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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.