Account

The user needs to assign every account in the chart of accounts needs to an account category. Account categories describe all the general types of capital, revenue, and Financial Setup expense accounts. These include assets, liabilities, income, and expenses. The user needs to assign each category to an account code range.

The user is also able to assign a year-end clearing account for income and expense categories. If there is an account code in the chart of accounts for retained earnings, it is used as the year-end clearing account.

This section includes the following modules:

• Account Categories

• Chart of Accounts

• Financial Period

• Substitute Accounts

• Sub Charts of Accounts

• Transaction Approval Routing