Using Predefined Financial Categories
Using Predefined Financial Categories
If you’re starting a new business or want to completely overhaul your current accounting system, the easiest way to set up your accounts and categories is to let Big Business do it for you. Big Business includes a number of different predefined account and category arrangements, each tailored for a particular type of business. You choose the type of business that is closest to your own; Big Business prepares a list of accounts and categories based on your choice.
When the list is being prepared, Big Business gives you the choice of including
numbers in account codes. (These codes appear in lists and fields where you choose which category to use in a particular situation.) If you decide to include numbers, the codes are numbered according to standard accounting practices.
After Big Business prepares the list, you need to add the beginning balances for each account and category. (If this is a new business, the balances might be zero.) At the same time, you can add, delete, or edit accounts and categories. See “Using the Accounts & Categories Window,” later in this section, for instructions.
When you use a predefined list of accounts and categories, Big Business automatically sets up default categories. You need to confirm these defaults and make any changes that might be necessary. See “Assigning Default Categories,” later in this section. (3115)
To use predefined accounts and categories:
1. Click the Accounts & Categories button in the Set Up Checklist window.
The Accounts & Categories Set Up window appears.
2. Click the Select From List button.
3. In the Select Import File list, click the business type that most closely matches yours, then click the OK button.
A dialog box appears, asking if you want to include numbers in account codes.
4. Click the appropriate button in the dialog box.
Big Business prepares a list of accounts and categories, then displays the Accounts & Categories window. See “Using the Accounts & Categories Window,” later in this section, for information about the next step in setting up the accounts and categories.
Related: