Adapting the Chart of Accounts (2)
Omit From Financial Statements If Balance Is Zero. Check the box to omit the account from financial statements if its balance is zero. Leave the box unchecked if you want the account to appear on financial statements, regardless of its balance.
Allow Project Allocations. Check this box to be able to allocate amounts to projects.
Opening Balance. Enter the account balance as of the earliest transaction date.
On the Class Options tab
Account Class. Select a description of the account’s purpose. Assigning account classes for asset accounts is particularly useful, because you can differentiate between cash, bank, and other types of asset accounts.
On the Account Reconciliation tab
Save Transactions For Account Reconciliation. Check this box if the account is a bank or credit-card account, and you want to reconcile the transactions in this account to the transactions on your bank or merchant statement.
On the Additional Information tab
Fields 1 to 5. Enter additional information about this account if you wish. You can rename each of the five fields by choosing Set Field Names from the Edit menu.
On the Related Historical Accounts tab
Fiscal Year; Account. If you have changed any account names or numbers or deleted any accounts during a fiscal year, Simply Accounting shows the details on the Related Historical Accounts tab.
On the Budget tab
Budget This Account. This box appears only if you have checked the Budget Revenue And Expense Accounts box on the General tab of the Settings dialog box, and only for a Revenue or Expense account. Check this box to set up a budget for a revenue or expense account. When you check this box, budget period fields appear, based on the Budget Period Frequency option selected on the General tab of the Settings window. The total budgeted amount also appears. Click the Allocate button to distribute the total amount evenly among the budget periods, or enter the budget amounts for each period.
Taken From : Simply Accounting
