Search options (Page 2 of 2)

Here is a list of everything I have changed from the default import of English - Great Britain - General chart of accounts:

GL Account Groups -> CURRENT LIABILITIES: set to Liabilities

System and General GL Setup -> Retained Earnings: add account 2331 (Retained Earning) in Long Term Liabilities

System and General GL Setup -> Profit/Loss Year: add account 8601 (Profit/Loss Year) in general and administrative expenses

System and General GL Setup -> Bank Charges Account: change to 7901 (Bank Charges) in general and administrative expenses

System and General GL Setup -> Shipping Charged Account: change to 5202 (carriage) in cost of goods sold

Sales -> sales areas: change USA to UK

I think this is everything I have changes from the default install so there is not too much to modify on the English - Great Britain - General chart of accounts.

I hope this helps.

Thanks for the information.

I found a bank charges account in the General and Administrative Expenses section.

Profit/Loss Year I added to the bottom of the General and Administrative Expenses section as suggested.

The Retained Earnings I added to the Current Liabilities section - I was not quite sure about this one though as there is also a Long Term Liabilities section.

The CURRENT LIABILITIES is of class type Assets
The LONG TERM LIABILITIES is of class type Liabilities

Which of the two should Retained Earnings be added to as I am not sure I have it in the correct one.

Thanks for your help.

Yes, that fixed it!

I went to Setup -> Points of Sale and edited my POS and the Allowed Credit Sale was no longer ticked. I ticked it and updated and the Payment drop down appeared on the Direct Invoice page.

Thanks for your help with this, it is much appreciated.

Ok, that explains it.

I don't know much about accounting so I am just trying to workout where all the figures come from and what they mean.

I have set up a test site now and am using it as a trial run, I am planning on using it properly from the start of the next tax year.  Basically I have been working out how much profit I have made, how much I have spent etc and then seeing how this corresponds to the various reports.  This way I have been learning about all the accountancy things as I go and what reports are relevant to me.

Thanks for the help.

Yes, that has fixed it!

Thank you very much for looking in to this today, it is much appreciated.

I can now start to set up for real, I have been working out how to use Front Accounting for my business on a demo for a month or so but now am ready to start using it properly - this was the last issue I was trying to resolve.

Thanks again.

Hi Joe,

Thanks for your help with this.

What I am trying to achieve is the following (tax set at 10%):

I enter a shipping amount in the quick entry, say £10

In the subtotal box I see £10
In the tax box I see £1.00
In the total box I see £11.00

Having it set up in this way would match my suppliers invoices exactly as they show everything excluding tax. They have products and shipping excluding tax as a subtotal, the relevant tax from products and shipping next in the tax box and then the main total.

This way means I can directly copy my suppliers figures straight in from their invoices and my invoice will then match theirs.

I have been trying many different combinations of remainder, amount, taxes added and taxes included but am not able to get one to show the results as above.

Yes, I see now - I did not realise that each process (sales order, delivery and invoicing) could have a separate reference number, I was thinking the reference number was for the entire chain of events and was the same for each process.

I will keep on using the demo until I figure everything out.

Thanks for your help.