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Setting up Accounts
Accounts
are attached to Divisions and can provide a breakdown of the financial
activities of receipts and payments so you can understand the performance of a
specific Division.
Useful
accounts would be as follows:
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DIVISION = BARTERCARD |
| Sales |
BC-TM-SLS
Automatically created for you when
you create a division. |
|
| Barter Fees |
| Abbrev |
FEES |
| Type |
Expense |
| GST |
Y |
| Class |
Costs - Direct or
Costs - Financial |
| Use |
Trade fees |
|
|
| OD Fees |
| Abbrev |
ODFEE |
| Type |
Expense |
| GST |
N |
| Class |
Costs - Direct or
Costs - Financial |
| Use |
If you ever have an overdrawn account and charged a fee. |
|
|
| Purchases |
| Abbrev |
PUR |
| Type |
Expense |
| GST |
Y |
| Class |
Costs - Direct or
Costs - Financial |
| Use |
If you ever have an overdrawn account and charged a fee. |
|
|
| Advertising |
| Abbrev |
ADV |
| Type |
Expense |
| GST |
Y |
| Class |
Expenses - Operating |
| Use |
Recording Bartercard spending on advertising. |
|
|
| Drawings |
| Abbrev |
DRAW |
| Type |
Proprietorship |
| GST |
N |
| Class |
Drawings |
| Use |
Recording Bartercard personal spending. |
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Instruction
- Go to Cash Book
- Select Chart of Accounts
- Select the Accounts tab
- Select the Bartercard Division
- Add/Edit your accounts
Hint
We recommend that you get your accountant to review
your set up of accounts.
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