Chapter 13: The Accounts & Categories Window (1)


Chapter 13: The Accounts & Categories Window (1) (6155)






In the Accounts & Categories window, each account or category is represented by a line with six columns:

The Account Type column indicates what kind of account or category this is - Cost of Goods Sold, Current Asset, Current Liability, Equity, Expense, Fixed Asset, Income, or Long Term Liability. Accounts that are imported must use these titles. Choosing the account type is important because it determines whether the account or category is a debit or credit account. Big Business uses the double-entry bookkeeping system, so each transaction is recorded with two or more iooppositely categories that must balance. (In general, you don't need to worry about these accounting details, because Big Business takes care of them for you. However, if you type in new accounts and categories, or edit existing ones, you must be careful about choosing account types.)
The Bank Account Type column is used only if the entry is a bank account rather than a category. There are five bank account types: Checking, Savings, Credit Card, Loan, and Cash. Bank accounts that are imported must use these titles.
The Account Code column is used for a short name or numeric code. This code appears in QuickPop lists where you choose which account or category to use in a particular situation in Big Business.
The Account Name column is for a text description of the account or category.
The Balance column is for the current balance of the account or category. When the Accounts & Categories window appears, the balance is zero for each entry if you used predefined accounts or chose to enter them manually. If you imported data, the balance reflects your old software's current balance.
The Lock column is used to display which categories have been designated as the five Automatic categories reserved for Big Business. If you used predefined accounts and categories, the special categories are already set up. Their rows are highlighted and a padlock symbol appears in the last column. If you imported accounts and categories or plan to enter them manually, the special categories will be designated when you set defaults. See Understanding Automatic CategoriesTopic302.

When you enter or change information in the list, you can use the Tab, Return, or Enter key to move from column to column.



Related:

Chapter 13 Contents