Accounts Master

ACCOUNTS MASTER

The accounts master contains all the options related to the accounts you have in your company.

1. “Accounts” shows all the existing accounts of the company. It's also where you can create new accounts as well or make changes to the existing ones. You can also add the billing address, taxation details and the shipping address of the accounts here as well.

2. “Opening Balance” is where it shows the opening balances of all the accounts of the company after you have successfully created all the accounts and transferred the relevant opening balances to each of the accounts.

3. “Accounts Group” shows all the existing account groups where all the separate accounts would come under. There are several default account groups. You can create new groups as per the requirement.

4. “Account Tree” shows all the accounts under their respective groups as well the ungrouped accounts.

To create an account the following steps are to be followed; Accounts > Accounts > New > Save

To edit an account;

Accounts > Accounts > Edit >Save

In the edit window we can make changes to the existing data.When you click the edit account button you can add more specific details that are shown above.

Also note if it is a debtor or creditor account you can enable the bill payment tracking so that as you receive or pay money you can select the bill against which you want to clear it with first or you can clear a part of the amount of one bill and another part of another bill while paying or receiving.

To add opening stock:

Accounts > Opening Balance >

Here we can add the opening balances of accounts by double clicking the debit or credit column

To add the address and GSTIN of a party in an account Accounts > Accounts > Billing address and Taxation >New> Save

Here we can add the address details and GSTIN of a party.

Account groups are created to differentiate the accounts on the basis of its nature.

Accounts > Account Group > New > Enter the account group name and select the parent group > Save

To create a control account follow these steps

Control account is created to consolidate the reports of the customers created under the control account.

Accounts > Accounts > New (enter the name as control account and select subgroup as sundry debtors) > Save

Accounts > select control account > Edit > Tick the control account checkbox > Save. Account Tree

Account Tree which groups Accounts by type, and then by Account group, for financial reporting.

Accounts > Accounts > Accounts Tree