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GROUPS SETUP
ACCOUNT GROUPS SETUP
  
This option allows you to set up to 2 Reporting Groups for your General Ledger Accounts. These Account Groups should represent the further grouping or division of your Income, Expenses, Capital, Assets and Liabilities, i.e. Financial Categories or the main classification of the Accounts in the Accounting Equation.

The 5 main groups of the Financial Categories are usually further divided into Account Groups e.g.
  1. Income - Income from normal business activities, e.g. sales, consulting, etc. and Other Income received such as interest, etc.

  2. Expenses - Expenses incurred during normal business activities, e.g. rent, cleaning, etc. and Expenses of a Capital nature.

     

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  3. Capital - The contribution or contributions or investment from the owner or owners. These groups you may wish to enter, may depend on the type of ownership for the business, e.g. Company, Close Corporation, Partnership or Sole Proprietorship.

  4. Assets - Fixed Assets (Immovable Assets and Current Assets Movable Assets

  5. Liabilities - Long-term Liabilities and Current Liabilities.
You may create any number of groups to meet your requirements. These Account Reporting Groups are used to structure the layout of the Income Statement and Balance Sheet. You may also select to print General Ledger Transaction Reports only for those accounts which is linked to a specific reporting group, e.g. Fixed Assets, Current Assets, etc.

After setting up your Account Groups, you need to link these Account Groups to the correct Financial Categories in the Setup - System Parameters - Financial Categories menu option.

You will be able to select any of the Accounts Reporting Groups 1 or 2, if you have set it up on the following menu options. To Set Reporting Groups:
Click on the Setup - System Parameters - Groups menu option or press the and and and keys on your keyboard. The Reporting Groups screen will be displayed:

Title bar. Close button - click to close or exit this screen. Select to create, edit, delete or move Account Groups. Select to create, edit, delete or move Debtor Groups. Select to create, edit, delete or move Creditor Groups. Select to create, edit, delete or move Stock Groups. Select to create, edit, delete or move Document Groups. Double-click to change the name for the Reporting Group. List of the Reporting Groups. Group 1 - if not inactive - click to select Group 1. Click to add a new Group to the list. Click to rename a selected Group on the list. Click to delete or remove a selected Group from the list. Click to move a selected Group 1 position up on the list. Click to move a selected Group 1 position down on the list. Group 2 - if not inactive - click to select Group 2. Click to print the list of the Groups displayed. Click to save your changes and to close or exit this screen.
Click on one Accounts Group tab, if not already displayed. The screen will change to reflect the Account Group 1.
If you wish to rename the Reporting Group Name - Account Group1, double-click on the Account Group1 and type in your new description.
To add a new Account Group to the root directory or list, select the Account Group 1 and click on the New button.
Click on the button to save your changes and close or exit this screen, unless you wish to add or edit Account Reporting Group 2 or any of the other Reporting Groups.

You may also edit the Reporting Groups in the list and print the list using the following buttons:

Option Description
Edit The selected entry may be edited or renamed.
Delete The selected entry will be deleted from the list of the reporting groups.
Move Up The selected entry will be moved one place up with each click of the mouse in the list of reporting groups.
Move Down The selected entry will be moved one place down with each click of the mouse in the list of reporting groups.
Print The report or list of your Reporting Groups which is displayed on the screen will be generated to the screen, printer, file, e-mail or fax as set in the Default Output field on the Options tab of the Setup - System Parameters - Company Info menu option on the Options tab.