Merge pull request #369 from barredterra/patch-1

Fix account type formatting
This commit is contained in:
Nabin Hait
2018-12-31 12:42:46 +05:30
committed by GitHub

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@@ -122,17 +122,50 @@ scenario like Bank Account or a Tax Account and has no effect on the Chart
itself.
Explanation of account types:
- **Bank:** The account group under which bank account will be created.
- **Cash:** The account group under which cash account will be created.
- **Cost of Goods Sold:** The account to book the accumulated total of all costs used to manufacture / purchase a product or service, sold by a company.
- **Depreciation:** The expense account to book the depreciation of the fixed assets.
- **Expenses Included In Valuation:** The account to book the expenses (apart from direct material costs) included in landed cost of an item/product, used in Perpetual Inventory, .
- **Fixed Asset:** The account to maintain the costs of fixed assets.
- **Payable:** The account which represents the amount owed by a company to its creditors.
- **Receivable:** The account which represents the amount owed by a company by its debtors.
- **Stock:** The account group under which the warehouse account will be created.
- **Stock Adjustment:** An expense account to book any adjustment entry of stock/inventory, and generally comes at the same level of Cost of Goods Sold.
- **Stock Received But Not Billed:** A temporary liability account which holds the value of stock received but not billed yet and used in Perpetual Inventory.
* **Bank**
The account group under which bank account will be created.
* **Cash**
The account group under which cash account will be created.
* **Cost of Goods Sold**
The account to book the accumulated total of all costs used to manufacture / purchase a product or service, sold by a company.
* **Depreciation**
The expense account to book the depreciation of the fixed assets.
* **Expenses Included In Valuation**
The account to book the expenses (apart from direct material costs) included in landed cost of an item/product, used in Perpetual Inventory.
* **Fixed Asset**
The account to maintain the costs of fixed assets.
* **Payable**
The account which represents the amount owed by a company to its creditors.
* **Receivable**
The account which represents the amount owed to a company by its debtors.
* **Stock**
The account group under which the warehouse account will be created.
* **Stock Adjustment**
An expense account to book any adjustment entry of stock/inventory. Generally comes at the same level of Cost of Goods Sold.
* **Stock Received But Not Billed**
A temporary liability account which holds the value of stock received but not billed yet and used in Perpetual Inventory.
### Creating / Editing Accounts
@@ -151,10 +184,10 @@ it is up to you to modify or add or remove accounts.
Typically, you might want to create Accounts for
* Types of Expenses (travel, salaries, telephone etc) under Expenses.
* Taxes (VAT, Sales Tax etc based on your country) under Current Liabilities.
* Types of Sales (for example, Product Sales, Service Sales etc.) under Income.
* Types of Assets (building, machinery, furniture etc.) under Fixed Assets.
* Travel, salaries, telephone, etc. under **Expenses**.
* Value Added Tax (VAT), Sales Tax, etc. under **Current Liabilities**.
* Product Sales, Service Sales, etc. under **Income**.
* Building, machinery, furniture, etc. under **Fixed Assets**.
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