Fastbase Accounting System - Online Manual

GL Account Details

Entered Wed, 2 Apr 2003 12:27 by Peter Campbell
Updated Tue, 11 Nov 2003 14:37
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Extra Description:
Enter an additional description or note relating to this account (optional).

Type:
Enter the type of this account, either current asset, fixed asset, liability, expense, income etc.

Master Account:
If this account is a sub-account and can be grouped into the total of another account then enter the master account here. The master account must be the same type as this account.

State:
Select 'Disabled' if the account is not allowed any manual postings. Control acounts that are linked to subsidiary modules (eg: debtors and credits control) would normally be flagged as disabled so users cannot mistakenly post to them.

Taxable:
Select 'No' if the account cannot have tax posted to it, this would apply to GST accounts and some income/expense accounts that do not attract GST. This option is mainly used to stop users mistakenly coding GST to selected accounts.

Tax Code:
If this account uses an alternate tax code then select the code here. See Utilities - Tax Codes for details.

Control Flag:
Some accounts need the control flag set so the system knows how to integrate this account correctly with the other modules.

• Bank Account, all bank accounts need to be specified so the system can allow entry of cash transactions and so that reconciliations can be performed.
  
• Asset Accounts, all asset control accounts need to be specified so the system can prompt the user for asset details when purchasing assets via supplier invoices and cash payments.
  
• Asset Maintenance Accounts, the system will prompt for asset and maintenance details when an asset maintenance account is selected. This provides history for the asset.
  
• Debtors Control, reserved for future use.
  
• Stock Control, reserved for future use.