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Version: 7.0

Settings and reference data

Where to find it​

Open:

  • Accounting -> Configuration -> Settings
  • Accounting -> Configuration -> Chart of accounts
  • Accounting -> Configuration -> Cash Flow Items

Settings​

The Settings form contains:

  • Readonly posted journal entries - if enabled, posted journal entries become read-only until they are unposted;
  • the numerator used for manual journal entries;
  • tabs for Journals and Asset types.

The Lock date is maintained in the header of the General ledger. It is used as a hard boundary for editing journal entries.

Chart of accounts​

The chart of accounts is a tree. Each account has:

  • ID
  • Name
  • Type
  • Parent
  • Cash equivalent
  • Cash Flow Item (Debit / Credit)

Important rules:

  • account type must be defined on the account itself or inherited from one of its parents;
  • the Cash equivalent flag is used in the cash flow statement;
  • cash flow item mappings are inherited from parent accounts if they are not set directly on the child account.

If the database is initialized without accounts, the module loads a default chart with the main groups:

  • Assets
  • Liabilities
  • Equity
  • Revenue
  • Expenses

and common subaccounts such as Cash, Bank, Accounts Receivable, Accounts Payable, Fixed assets, Accumulated depreciation, Wages payable, and Taxes payable.

Journals​

Journals are used on document types and manual journal entries. A journal contains:

  • ID
  • Name
  • Numerator

If the database is initialized without journals, the module creates default journals:

  • Bank
  • Cash
  • Sales
  • Purchase
  • Miscellaneous

Cash Flow Items​

Cash Flow Items classify movements for the cash flow statement. Each item has:

  • Name
  • Activity: Operating, Investing, or Financing

These items are then assigned to GL accounts as the debit and/or credit classification.

Asset types​

Asset types are used when creating and depreciating assets. An asset type defines:

  • Name
  • Numerator
  • Journal
  • Fixed asset account
  • Acquisition account
  • Depreciation account
  • Expense account
  • Useful life, months

The module also creates a default asset type named Asset if the database is empty.

What is configured outside this section​

Posting rules for bills, invoices, payments, receipts, shipments, adjustments, scrap, and payslips are configured on the corresponding document type cards in other modules. See Posting from source documents.