Account Groups

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This option allows you to set up to two Reporting Groups for your General Ledger Accounts. These Account Groups should represent the further grouping or division of your Income, Expenses, Capital, Assets and Liabilities, i.e. Financial Categories or the main classification of the Accounts in the Accounting Equation.

The five main groups of the Financial Categories are usually further divided into Account Groups. e.g.

1. - Income - Income from normal business activities, e.g. sales, consulting, etc. and Other Income received such as interest, etc.

2. - Expenses - Expenses incurred during normal business activities, e.g. rent, cleaning, etc. and Expenses of a Capital nature.

3. - Capital - The contribution/s or investment from the owner/s. The groups you may wish to enter, would depend on the type of ownership for the business, e.g. Company, Close Corporation, Partnership or Sole Proprietorship.

4. - Assets - Fixed Assets (Immovable Assets) and Current Assets (Movable Assets)

5. - Liabilities - Long-term Liabilities and Current Liabilities.

You may create any number of groups to meet your requirements. These Account Reporting Groups are used to structure the layout of the Income Statement and Balance Sheet. You may also select to print General Ledger Transaction Reports only for those accounts which are linked to a specific reporting group, e.g. Fixed Assets, Current Assets, etc.

After setting up your Account Groups, you need to link these Account Groups to the correct Financial Categories. The following two (2) options are available:

1.Setup → System parameters → Financial Categories menu,

2.Edit → Accounts menu.

You will be able to select any of the Accounts Reporting Groups 1 or 2, if you have set it up on the following menu options:

Edit - Accounts - Bank, General Ledger and Tax (Account Types).

Reports - General Ledger

Chart of Accounts (Listing)

Budget Performance

General Ledger Account Movements

Trial Balance

Income Statement

Balance Sheet

To Set Reporting Groups for General Ledger Accounts:

1.Click on the Setup → System parameters → Groups menu. The Groups (Account Group 1 (default)) screen is displayed:

You may set different sequences for each reporting group in which the groups and accounts are listed on reports, etc.  This is done by selecting the groups on the list and use the Move up or Move down buttons.

Account Group 1

Account Group 2

2.If you wish to rename the Reporting Group Name - Account Group 1, over-type the description with your new description. This will change the description of the button for Account Group 1.

3.To add a new Group to the root directory or list, select the REPORTING GROUP ROOT on the list and click on the New button.

4.Enter the name of your Account Group and click on REPORTING GROUP ROOT on the list.

5.Repeat the process until you have entered all the Account Groups, etc.

6.If you need to add Reporting Group 2 for Account Groups, click on the Account Group 2 button and repeat the process as for Account Group 1.

7.Click on the OK button to save your changes and close (exit) this screen.

You may click on the Print button to print a list of your general ledger account groups.

You may set colours to display on the T-Account Viewer. To do this, click on the Back colour button to set the rows background colour and the Font colour button to set the Font colour.

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