diff --git a/foundation/www/docs/user/manual/en/accounts/chart-of-accounts.md b/foundation/www/docs/user/manual/en/accounts/chart-of-accounts.md index 63300db0..aba7041b 100755 --- a/foundation/www/docs/user/manual/en/accounts/chart-of-accounts.md +++ b/foundation/www/docs/user/manual/en/accounts/chart-of-accounts.md @@ -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**.