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Using TurboCASH

 







VIEW GENERAL LEDGER REPORTS
VIEW ACCOUNT LISTING (CHART OF ACCOUNTS)
  
The Chart of Accounts is a list of all general ledger accounts created and edited in the Edit - Accounts - General Ledger menu option. This Chart of Accounts or Account Listing is generated on the Accounts List Options screen and it will include Bank Accounts created in the Edit - Accounts - Bank Accounts and Tax Accounts created in the Edit - Accounts - Tax Accounts menu option.

The General Ledger account master files needs to be selected on the Accounts Search facility, Bank Accounts search facility and Tax Accounts search facility when you process transactions, documents, budgets and generate reports, etc.

Each account must be linked to an Account Group (created in the Setup - System Parameters - Groups (Accounts tab), which classifies or groups the accounts in the 5 Financial Categories (Income, Expenses, Assets, Capital and Liabilities). These Account Groups are linked to the Financial Categories in the Setup - System Parameters - Financial Categories menu option.

 

Name of the business. System date and time. Page number. Name of the report. Type - Income / Expenses will be reported on the Income Statement. Displays the 6 basic types of account. Account number or code. Account description or name. Account Group 1 and 2 - Each account must at least be linked to Account Group 1 as created in the Setup Groups menu option. Bank Account type is created in the Edit - Accounts - Bank Accounts menu option and must be linked to its own Payments and Receipts Batch. Tax Account type is created in the Edit - Accounts - Tax Accounts menu option and contains the Tax % applicable to the Tax codes. Debtors Control type is the control account for all transactions in the Debtors Ledger. Creditors Control type is the control account for all transactions in the Creditors Ledger. Retained earnings - At the closing of the Financial Year the Net Profit / Loss will be transferred to this account type.

This Chart of Accounts will be listed in 5 columns:
  1. Account - The account number or code is a 1 digit alpha character followed by 3 numeric digits. If sub-accounts have been created for an account, the sub-account number will be displayed as the last 3 digits. The first digit will indicate the account type and is as follows:

    • B- Accounts created in the Edit - Accounts - Bank Accounts menu option. Each of the Bank accounts must be linked to its own Payments and Receipts batch or journal.

    • G - Accounts created in the Edit - Accounts - General Ledger menu option as an Income or Expense Type or a Balance Sheet (Assets, Capital and Liabilities) account.

    • T- Accounts created in the Edit - Accounts - Tax menu option. These would be the tax codes containing the percentages, which applies to each Tax code for Output and Input VAT.

    • Description - This is the account description or name of the account or sub-account.

    • Account Group 1 - This is the Account Group 1 to which an Account is linked when the Account / Sub-account was created.

    • Account Group 2 - This is the Account Group 2 to which an Account is linked when the Account / Sub-account was created.

    • Type - The following types will be displayed

      • If a General ledger account or sub-account is created as an Income / Expense Account, the account balances will reflect on the Income Statement and will be used to calculate the net Profit or Net Loss.

      • If no type is displayed, the account balances will be reported on the Balance Sheet.

      • Bank Account - These accounts are created in the Edit - Accounts - Bank Accounts menu option.

      • Tax Account - These accounts are created in the Edit - Accounts - Tax Accounts menu option.

      • Retained income / Retained Earnings - This account type will be used to store the retained income or earnings and the net Profit or net Loss will be transferred to this account when the Financial Year is closed.

      • Debtors Control - This is the control account for the Debtors Ledger. All the transactions and balances for accounts created and edited in the Edit - Accounts - Debtor menu option will be displayed as a total in the control account.

      • Creditors Control - This is the control account for the Creditors Ledger. All the transactions and balances for accounts created and edited in the Edit - Accounts - Creditor menu option will be displayed as a total in the control account.


    If you have converted a Set of Books from a previous version of TurboCASH or Pastel version 5.2, your Chart of Accounts will be automatically converted.

    If you have created a new Set of Books and you have selected one of the existing templates installed from the TurboCASH. Seven installation CD or if you have downloaded a Set of Books (template) from Pink Software's Web Site, you will already have a basic Chart of Accounts which you can use. It is recommended that you print the Chart of Accounts on the Reports - General Ledger - Chart of Accounts menu option, and to check that all the required accounts are available for your requirements. You need to identify the additional Accounts, you wish to add or even to create Sub-accounts for specific Accounts. You may also need to change the descriptions for some Accounts and may even wish to delete some Accounts, which you will to use at all.