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Merge pull request #369 from barredterra/patch-1
Fix account type formatting
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@@ -122,17 +122,50 @@ scenario like Bank Account or a Tax Account and has no effect on the Chart
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itself.
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Explanation of account types:
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- **Bank:** The account group under which bank account will be created.
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- **Cash:** The account group under which cash account will be created.
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- **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.
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- **Depreciation:** The expense account to book the depreciation of the fixed assets.
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- **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, .
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- **Fixed Asset:** The account to maintain the costs of fixed assets.
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- **Payable:** The account which represents the amount owed by a company to its creditors.
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- **Receivable:** The account which represents the amount owed by a company by its debtors.
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- **Stock:** The account group under which the warehouse account will be created.
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- **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.
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- **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.
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* **Bank**
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The account group under which bank account will be created.
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* **Cash**
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The account group under which cash account will be created.
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* **Cost of Goods Sold**
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The account to book the accumulated total of all costs used to manufacture / purchase a product or service, sold by a company.
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* **Depreciation**
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The expense account to book the depreciation of the fixed assets.
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* **Expenses Included In Valuation**
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The account to book the expenses (apart from direct material costs) included in landed cost of an item/product, used in Perpetual Inventory.
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* **Fixed Asset**
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The account to maintain the costs of fixed assets.
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* **Payable**
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The account which represents the amount owed by a company to its creditors.
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* **Receivable**
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The account which represents the amount owed to a company by its debtors.
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* **Stock**
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The account group under which the warehouse account will be created.
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* **Stock Adjustment**
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An expense account to book any adjustment entry of stock/inventory. Generally comes at the same level of Cost of Goods Sold.
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* **Stock Received But Not Billed**
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A temporary liability account which holds the value of stock received but not billed yet and used in Perpetual Inventory.
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### Creating / Editing Accounts
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@@ -151,10 +184,10 @@ it is up to you to modify or add or remove accounts.
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Typically, you might want to create Accounts for
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* Types of Expenses (travel, salaries, telephone etc) under Expenses.
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* Taxes (VAT, Sales Tax etc based on your country) under Current Liabilities.
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* Types of Sales (for example, Product Sales, Service Sales etc.) under Income.
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* Types of Assets (building, machinery, furniture etc.) under Fixed Assets.
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* Travel, salaries, telephone, etc. under **Expenses**.
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* Value Added Tax (VAT), Sales Tax, etc. under **Current Liabilities**.
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* Product Sales, Service Sales, etc. under **Income**.
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* Building, machinery, furniture, etc. under **Fixed Assets**.
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<div>
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