Configuration: Account Profiles
Use the Account Profiles screen to add the base account numbers (first 5 digits) of your chart of accounts.
To open the Account Profiles screen, click the Need to create an account? Click here to add link on the Account Profiles screen.
Accounts must be added to the Account Profiles screen before they can be added to the Chart of Accounts and combined with a profit center.
The fields appear on the Account Profiles screen are:
| Field | Description |
|---|---|
| Account Number |
The base Account Number used when entering chart of account numbers. The base Account Numbershould adhere to the format defined in the Account 1st Digits screen (chart of accounts first digits) and Account Groupings screen. |
| Name | The Name of the account will represent the account throughout the system and on any reports where the G/L number appears. |
| Type | The Type of account determines the location the account will appear on financial reports. |
| Asset or Liability | Used on balance sheet accounts and denotes which side of the balance sheet this account will appear on. |
| Memo Account | If selected, the system adds a memo account to the account profile. Memo accounts appear only on financial statements and do not affect the G/L balancing process. They are used to represent quantities related to financial values. For example, if the G/L equipment inventory account is 12000, a memo account 12001 might be created to show the total number of units corresponding to that inventory value on financial reports. |
The account types are:
| Type | |
|---|---|
| Account | Report |
| Balance Sheets Account | Assets & Liabilities. |
| Profit/Loss Account | Sales & Cost of Sales. |
| Expense Account | Expense & Miscellaneous Income. |
The buttons on the Account Profiles screen are:
| Button | Function |
|---|---|
| Save | Saves changes made to the Account Profiles screen. |
| Save & New | Saves a newly added account profile and refreshes the Account Profiles screen, allowing you to add another account profile without closing the screen. |
| Close | Closes the Account Profiles screen without saving and returns to the Account Profiles screen. |