Account Categories
Account Categories
This function is used to maintain Account Categories.
An account category is used during the configuration of various types of the financial report at Configuration > Financial Report Layouts.
It is not recommended that you make changes to your Account Categories without consulting Aqilla first.
Account Category page shows the Category Name and Code and each account category groups various accounts, - as shown in the sample screenshot on the right:
Account Categories are grouped according to their Category Code. In the screenshot, you can see the the overall code for Assets is AS, and every subsequent category that starts with AS will be put under Assets.
The Balance Sheet demonstrates this by showing you the overall group Assets (AS), and two groupings for Current Assets (ASCA) and Fixed Assets (ASFA)
For example: A new account category for a Investment Account (Current Assets) could have the category code ASCAIN
A new account category for Equipment Depreciation (Fixed Asset) would instead have the category code ASFAED
Create New Account Category
You can click on one of the current Account Categories or click on Create New Account Category.
On the Account Category Edit page you edit the category name and code, as well as designate the category sign as Debit or Credit.
The bottom of the page is dedicated to the accounts that are part of the Account Category.
Each field on this record is described below. Mandatory fields are highlighted thus.
Field | Description |
|---|---|
Account Category Name | The account category name that will be displayed in financial reports - max 60 alphanumeric characters. |
Account Category Code | A code used to create a hierarchy within a financial report - max 6 alphanumeric characters. |
Sign | Credit or Debit - determines how report rows are summated. |
Alternative Account Category Name | An alternative account category name used to present reports in a second language. |
The account category code is a two character pair used to create a hierarchy of account categories, the lowest level of which is a collection of accounts thus:
Field | Description |
|---|---|
AS | Assets |
ASCA | Current Assets |
ASCADB | Debtors (a collection of accounts as shown in the above screenshot) |
This method allows report lines to be expanded or collapsed by clicking on an icon:
This method makes it simple to restructure a chart of accounts - c.f. other applications which require structured general ledger account codes.
To avoid additional work configuring the system it is best not to delete VAT accounts - but they can still be renamed and re-coded. See Reports > VAT 100 Report.
