Accounts

Overview

Chart of Accounts is a list of numbered accounts containing Ledger Account Names and Numbers that are affected by the financial transactions of a business into the General Ledger. The Purpose of the Chart of Accounts is to provide a listing of the different accounts used by the organisaion according to their intended purpose. Readysell has a set Chart of Accounts, the Chart is reviewed by the Site as additonal Accounts may need to be added.

The 7 Basic Accounting Types (in order) are:

Assets - Things you own
Liabilities - Things you owe
Equity - Owners Stake in Company
Revenue - Income through Sales of the Products of the Business
Costs of Goods Sold - Costs to provide the service or to manufacture or acquire the product the business sells
Expenses - Things that are paid for that are consumable, they have no lasting value but are part of the cost of running a business
Other Revenue and Expenses - Revenue and Expenses that are unusual cases and are not directly related to the business product and are not usual costs of running a business.

Getting Started

Reference

Buttons

There are no custom buttons for this list. Refer to Common Buttons.

Fields

Field	Description
Account ID	The Account ID, used to identify the General Ledger account
Account Type	The account type determines whether this account is an asset, expense, income or liability.
Description	This field shows the account's

Status Tab

Field	Description
Current Period Range
Start Period	The Period you have set to be the Start Period
End Period	The Period you have set to be the End Period
Actual Opening Bal	Total Sum of all Transactions that are dated into the Period Less than the Start Period that has been set.
Actual Closing Bal	Actual Opening Balance + Actual Movement
Budget Opening Bal	Total Sum of All Values that are in a Period Less that the Start Period that have been set with Budgets.
Budget Closing Bal	Budget Opening Balane + Budget Movement
Actual Movement	The total sum of all movements from the start to the end period
Budget Movement	Sum of all Values in the Budger for the Period
Comparison Period Range
Comparison Start Period	Sum of all Values in the Budger for the Period
Comparison End Period	The Previous Comparative End Period
Actual Opening Bal	Total Sum of all Transactions that are dated are have a Period Less than the Comparative Start Period.
Actual Closing Bal	Actual Opening Balance + Actual Movement
Budget Opening Bal	Total Sum of All Values that are in a Period Less that the Comparative Start Period that have been set with Budgets.
Budget Closing Bal	Budget Opening Balane + Budget Movement
Actual Movement	The total sum of all movements from the comparative start to the comparative end period
Budget Movement	Sum of all Values in the Budget for the Period

Account Sites tab

Button

Image	Field	Description

Image	Field	Description
Filter: - All sites Active Sites Inactive Sites	Filter	Display the balance/transactions for the site and period select
	Related	Shows objects related to the current selection, in this case it will show the site details.
	Dissections	Is a list of all the transactions that have been dissected against that Bank Account highlighted for the Period Range that has been set.
	Daily Totals	Shows you a Total Dollar Value Summarised by Date,Transaction Type for all transactions for that one Account Site.

Account Sites>Balances and Budgets Tab

The Balance and Budgets tab contains the Movement for the period and the Budget for the Period. The 'Variance' is the difference between the Movement and Budget for the period set. The Period range that is set,whether it be at the header level or detail level is global.

As you highlight each Period within 'Balance and Budgets' a Daily Balances tab Summary View displays below. This view show you the sum of all Movements and Budgets by Date Range for that Period highlighted.

As you highlight anywhere within the Daily Balances detail view, then click on Dissections button, you will see the break up for that makes up that whole period highlighted.

Once again if you highlight one of the transactions within the Dissections Detail View and click on 'Show Source Record' you will see the original transaction itself.

Field	Description
Period	The Financial year selected being either the current period or all periods by dropping down the filter and selecting.
Actual Movement	The actual movement is the total of all the debit less credit postings to one general ledger account site for a single period
Budget Movement	This is the budget movement
Variance	This field shows the variance for the balance and budget

Daily Balances

Field	Description
Date	The date and time of the daily balance and budget in summary
Actual Movement	The actual movement is the total for that day in summary
Budget Movement	This is the budget movement for that day in summary
Variance	This field shows the variance for the balance and budget in summary for the day

Settings

Field	Description
Show on P&L	Output General Ledger Account/Description and Values on P&L Report
Show on Bal Sheet	Output General Ledger Account/Description and Values on Balance Sheet Report
Heading on P&L	Output on the P&L as a heading
Heading on Bal Sheet	Output on the Balance sheet as a heading
P&L Sort Index	Usually left as 0
Bal Sheet Sort Index	Usually left as 0
P&L Parent	Insert the Parent GL account for the child GL account.
Bal Sheet Parents	Insert the Parent GL account for the child gl account
Normally Debit/ Credit	How the value is to display on the report
Daily Budgeting	If this is turned on you can set up or import daily budgets for a general ledger account as opposed to periodical budgets.
Clear to Account	The P&L appropriation general ledger account that all the income/cost of goods and expense accounts are cleared to.
Clear At Year End	This needs to be turned on for all Income/Revenue/Cost of Goods and Expense accounts that you wish to clear at year end to the Clear to Account.

Settings>Bank Account tab

Field	Description
Is Bank Account	If this field is True, this determines that this account is a bank account and can be linked to tenders. If this check box is ticked, the transactions can be seen in the Banking file. If this check box is checked you can perform a bank reconciliation for this form of a bank account. If you ever turn this check box off at any point in time, then any tender used that is linked to this bank account the movements will not flow through to the banking module.
Primary Bank Account	You can only have 1 primary main bank account.
Bank Account Bank	The bank eg ANZ
Bank Account Name	The name on the Bank Account
Bank Account bsb	BSB
Bank Account Number	Bank Account number

Benchmarks

Field	Description
Benchmark ID	Name