In this field, you identify the purpose of the account. Newly created accounts are automatically assigned the Posting account type, but you can change this. Click the AssistButton in the field to select one of the following five options:
|
Account Type |
Function |
|
Posting |
Posting. |
|
Heading |
A heading for a group of accounts. |
|
Total |
Total is used when you want the program to total a series of balances on accounts that do not immediately precede the Total account. You use Total when accounts from many different account groupings should be totaled. If you use the Total type, the Totaling field must not be left blank. |
|
Begin-Total |
A marker for the beginning of a series of accounts to be totaled that ends with an End-Total account. |
|
End-Total |
A total of a series of accounts that starts with the preceding Begin-Total account. The total is defined in the Totaling field. |
Begin-Total and End-Total are used together to group accounts, for example:
|
No. |
Name |
Account Type |
|
1000 |
Sales |
Begin-Total |
|
1100 |
Sales, Norway |
Posting |
|
1200 |
Sales, Germany |
Posting |
|
1300 |
Sales, Belgium |
Posting |
|
1400 |
Total Sales |
End-Total |
When you click the Functions button and then select Indent Chart of Accounts, the accounts between Begin-Total and End-Total are automatically indented one space. At the same time, the Totaling field for the account of the End-Total type is filled in based on the accounts in the group. In the example above, the sales from Norway, Germany and Belgium would be added up and the result displayed in the balance field for the Total Sales account.
It is advantageous to let the Indent function fill in the Totaling field for End-Total accounts instead of adding the numbers yourself.