|
23 | 23 | an Account is used as the basic tool to organize the recording of where money comes from and
|
24 | 24 | goes to. &app; also extends the concept of real world accounts such as a bank account or loan
|
25 | 25 | account to grouping income and expense accounts. This allows you to quickly see where you spent
|
26 |
| - your money and what your major income and expenses are. &app; sets Account Types (as described |
27 |
| - in the next section) to help in organizing and grouping accounts. Account Types can be used to |
28 |
| - create a Chart of Accounts. |
| 26 | + your money and what your major income and expenses are. &app; sets Account Types to help in |
| 27 | + organizing and grouping accounts. Account Types can be used to create a Chart of Accounts. |
29 | 28 | </para>
|
30 | 29 |
|
31 |
| - <sect1 id="acct-types"> |
32 |
| - <title>Types of &app; Accounts</title> |
33 |
| - |
34 |
| - <para>&app; supports a number of different account types. It is recommended to choose an appropriate |
35 |
| - account type based on the list of account types described below. |
36 |
| - </para> |
37 |
| - |
38 |
| - <warning> |
39 |
| - <para>The Accounts Payable and Accounts Receivable types are used internally by &app;’s business |
40 |
| - features. Transactions involving these accounts should not be added, changed or deleted in |
41 |
| - any way other than by using<itemizedlist> |
42 |
| - <listitem> |
43 |
| - <para>post/unpost bill/invoice/voucher or |
44 |
| - </para> |
45 |
| - </listitem> |
46 |
| - |
47 |
| - <listitem> |
48 |
| - <para>process payment |
49 |
| - </para> |
50 |
| - </listitem> |
51 |
| - </itemizedlist> |
52 |
| - </para> |
53 |
| - </warning> |
54 |
| - |
55 |
| - <table frame="topbot" id="TypeAccounts"> |
56 |
| - <title>Types of &app; Accounts.</title> |
57 |
| - |
58 |
| - <tgroup cols="2"> |
59 |
| - <thead> |
60 |
| - <row> |
61 |
| - <entry> |
62 |
| - <para>Account Type |
63 |
| - </para> |
64 |
| - </entry> |
65 |
| - |
66 |
| - <entry> |
67 |
| - <para>Description |
68 |
| - </para> |
69 |
| - </entry> |
70 |
| - </row> |
71 |
| - </thead> |
72 |
| - |
73 |
| - <tbody> |
74 |
| - <row> |
75 |
| - <entry> |
76 |
| - <para>Accounts Payable |
77 |
| - </para> |
78 |
| - </entry> |
79 |
| - |
80 |
| - <entry> |
81 |
| - <para>Accounts Payable are used by businesses to record amounts that must be paid. Example: The business |
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| - has bought something, but the business has not paid the bill until later. |
83 |
| - </para> |
84 |
| - </entry> |
85 |
| - </row> |
86 |
| - |
87 |
| - <row> |
88 |
| - <entry> |
89 |
| - <para>Accounts Receivable |
90 |
| - </para> |
91 |
| - </entry> |
92 |
| - |
93 |
| - <entry> |
94 |
| - <para>Accounts Receivable records amounts for which money has not yet been received. Example: A business |
95 |
| - has sold something and issued a bill, but the client has not payed until later. |
96 |
| - </para> |
97 |
| - </entry> |
98 |
| - </row> |
99 |
| - |
100 |
| - <row> |
101 |
| - <entry> |
102 |
| - <para>Asset |
103 |
| - </para> |
104 |
| - </entry> |
105 |
| - |
106 |
| - <entry> |
107 |
| - <para>Asset accounts are used for tracking things that are of value and can be used or sold to pay debts. |
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| - (Normally a placeholder account) |
109 |
| - </para> |
110 |
| - </entry> |
111 |
| - </row> |
112 |
| - |
113 |
| - <row> |
114 |
| - <entry> |
115 |
| - <para>Bank |
116 |
| - </para> |
117 |
| - </entry> |
118 |
| - |
119 |
| - <entry> |
120 |
| - <para>The Bank account type denotes savings or checking accounts held at a bank or other financial |
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| - institution. Some of these accounts may bear interest. This is also the appropriate |
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| - account type for check (debit) cards, which directly withdraw payments from a |
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| - checking account. |
124 |
| - </para> |
125 |
| - </entry> |
126 |
| - </row> |
127 |
| - |
128 |
| - <row> |
129 |
| - <entry> |
130 |
| - <para>Cash |
131 |
| - </para> |
132 |
| - </entry> |
133 |
| - |
134 |
| - <entry> |
135 |
| - <para>The Cash account type is used to denote the cash that you store in your wallet, shoe box, piggyback, |
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| - or mattress. |
137 |
| - </para> |
138 |
| - </entry> |
139 |
| - </row> |
140 |
| - |
141 |
| - <row> |
142 |
| - <entry> |
143 |
| - <para>Credit Card |
144 |
| - </para> |
145 |
| - </entry> |
146 |
| - |
147 |
| - <entry> |
148 |
| - <para>The Credit Card account type is used to denote credit card accounts, both for cards that allow |
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| - floating lines of credit (e.g. VISA, MasterCard, or Discover) and with cards that do |
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| - not permit continuing balances (e.g. American Express) |
151 |
| - </para> |
152 |
| - </entry> |
153 |
| - </row> |
154 |
| - |
155 |
| - <row> |
156 |
| - <entry> |
157 |
| - <para>Currency |
158 |
| - </para> |
159 |
| - </entry> |
160 |
| - |
161 |
| - <entry> |
162 |
| - <para>Currency Accounts were used for trading currencies, but have been replaced by the Currency Transfer |
163 |
| - pane on the Transfer Funds Window (<xref linkend="trans-win-enter"></xref>). |
164 |
| - </para> |
165 |
| - </entry> |
166 |
| - </row> |
167 |
| - |
168 |
| - <row> |
169 |
| - <entry> |
170 |
| - <para>Equity |
171 |
| - </para> |
172 |
| - </entry> |
173 |
| - |
174 |
| - <entry> |
175 |
| - <para>Equity accounts are used to store the opening balances when you first start using &app; or start a |
176 |
| - new accounting period. |
177 |
| - </para> |
178 |
| - </entry> |
179 |
| - </row> |
180 |
| - |
181 |
| - <row> |
182 |
| - <entry> |
183 |
| - <para>Expense |
184 |
| - </para> |
185 |
| - </entry> |
186 |
| - |
187 |
| - <entry> |
188 |
| - <para>Any expense such as food, clothing, taxes, etc. This type is called a category in Quicken. |
189 |
| - </para> |
190 |
| - </entry> |
191 |
| - </row> |
192 |
| - |
193 |
| - <row> |
194 |
| - <entry> |
195 |
| - <para>Income |
196 |
| - </para> |
197 |
| - </entry> |
198 |
| - |
199 |
| - <entry> |
200 |
| - <para>Any income received from sources such as salary, interest, dividends, etc. This type is called a |
201 |
| - category in Quicken. |
202 |
| - </para> |
203 |
| - </entry> |
204 |
| - </row> |
205 |
| - |
206 |
| - <row> |
207 |
| - <entry> |
208 |
| - <para>Liability |
209 |
| - </para> |
210 |
| - </entry> |
211 |
| - |
212 |
| - <entry> |
213 |
| - <para>Liability accounts are used for tracking debts or financial obligations. (Normally a placeholder |
214 |
| - account) |
215 |
| - </para> |
216 |
| - </entry> |
217 |
| - </row> |
218 |
| - |
219 |
| - <row> |
220 |
| - <entry> |
221 |
| - <para>Mutual Fund |
222 |
| - </para> |
223 |
| - </entry> |
224 |
| - |
225 |
| - <entry> |
226 |
| - <para>A professionally managed portfolio of stocks and bonds or other investments divided up into shares. |
227 |
| - </para> |
228 |
| - </entry> |
229 |
| - </row> |
230 |
| - |
231 |
| - <row> |
232 |
| - <entry> |
233 |
| - <para>Stock |
234 |
| - </para> |
235 |
| - </entry> |
236 |
| - |
237 |
| - <entry> |
238 |
| - <para>A share of ownership in a corporation, which entitles its owner to all the risks and rewards that go |
239 |
| - with it. |
240 |
| - </para> |
241 |
| - </entry> |
242 |
| - </row> |
243 |
| - </tbody> |
244 |
| - </tgroup> |
245 |
| - </table> |
246 |
| - |
247 |
| - <para>The <emphasis role="bold">New Account Hierarchy Setup</emphasis> assistant described in the first |
248 |
| - section of this help is a convenient way of setting up a set of accounts to use as a framework |
249 |
| - of account types. |
250 |
| - </para> |
251 |
| - |
252 |
| - <para>When new accounts are created the available choices of account types are grayed out according to |
253 |
| - what type the parent account is. The following list contains the possible choices. |
254 |
| - </para> |
255 |
| - |
256 |
| - <itemizedlist> |
257 |
| - <listitem> |
258 |
| - <para>Accounts Payable: All accounts except Equity, Expense and Income can be child accounts. |
259 |
| - </para> |
260 |
| - </listitem> |
261 |
| - |
262 |
| - <listitem> |
263 |
| - <para>Accounts Receivable: All accounts except Equity, Expense and Income can be child accounts. |
264 |
| - </para> |
265 |
| - </listitem> |
266 |
| - |
267 |
| - <listitem> |
268 |
| - <para>Asset: All accounts except Equity, Expense and Income can be child accounts. |
269 |
| - </para> |
270 |
| - </listitem> |
271 |
| - |
272 |
| - <listitem> |
273 |
| - <para>Bank: All accounts except Equity, Expense and Income can be child accounts. |
274 |
| - </para> |
275 |
| - </listitem> |
276 |
| - |
277 |
| - <listitem> |
278 |
| - <para>Cash: All accounts except Equity, Expense and Income can be child accounts. |
279 |
| - </para> |
280 |
| - </listitem> |
281 |
| - |
282 |
| - <listitem> |
283 |
| - <para>Credit Card: All accounts except Equity, Expense and Income can be child accounts. |
284 |
| - </para> |
285 |
| - </listitem> |
286 |
| - |
287 |
| - <listitem> |
288 |
| - <para>Currency: All accounts except Equity, Expense and Income can be child accounts. |
289 |
| - </para> |
290 |
| - </listitem> |
291 |
| - |
292 |
| - <listitem> |
293 |
| - <para>Equity: Only Equity accounts can be child accounts. |
294 |
| - </para> |
295 |
| - </listitem> |
296 |
| - |
297 |
| - <listitem> |
298 |
| - <para>Expense: Only Expense or Income accounts can be child accounts. |
299 |
| - </para> |
300 |
| - </listitem> |
301 |
| - |
302 |
| - <listitem> |
303 |
| - <para>Income: Only Expense or Income accounts can be child accounts. |
304 |
| - </para> |
305 |
| - </listitem> |
306 |
| - |
307 |
| - <listitem> |
308 |
| - <para>Liability: All accounts except Equity, Expense and Income can be child accounts. |
309 |
| - </para> |
310 |
| - </listitem> |
311 |
| - |
312 |
| - <listitem> |
313 |
| - <para>Mutual Fund: All accounts except Equity, Expense and Income can be child accounts. |
314 |
| - </para> |
315 |
| - </listitem> |
316 |
| - |
317 |
| - <listitem> |
318 |
| - <para>Stock: All accounts except Equity, Expense and Income can be child accounts. |
319 |
| - </para> |
320 |
| - </listitem> |
321 |
| - </itemizedlist> |
322 |
| - </sect1> |
323 |
| - |
324 | 30 | <sect1 id="chart-create">
|
325 | 31 | <title>Creating a Chart of Accounts</title>
|
326 | 32 |
|
|
354 | 60 | <para>Editing the Chart of Accounts is done within the <guilabel>Parent Account</guilabel> pane of the
|
355 | 61 | <guilabel>Edit Account</guilabel> dialog. It is possible to move an account to any part of the
|
356 | 62 | Chart of Accounts. It is recommended to keep accounts generally under the related types of
|
357 |
| - accounts as described in <xref linkend="acct-types" />. This helps to preserve the Chart of |
| 63 | + accounts as described in <ulink url="&url-docs-C;guide/accts-types1.html">&app; Accounts</ulink>. This helps to preserve the Chart of |
358 | 64 | Accounts structure.
|
359 | 65 | </para>
|
360 | 66 |
|
|
546 | 252 | </note>
|
547 | 253 |
|
548 | 254 | <para>Below these checkboxes is a pane that contains a list of <guilabel>Account Types</guilabel>. Select
|
549 |
| - a type from the descriptions in <xref linkend="acct-types" />. |
| 255 | + a type from the descriptions in <ulink url="&url-docs-C;guide/accts-types1.html">&app; Accounts</ulink>. |
550 | 256 | </para>
|
551 | 257 |
|
552 | 258 | <para>The next pane contains an account tree to choose a <guilabel>Parent Account</guilabel>. To create a
|
|
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