Details on how Foreign Currency Balance and the Balance column appear on the Chart of Accounts
Tag: Chart of Accounts
Foreign Currency Balance Column of Chart of Accounts is Zero but Balance is Not Zero.
When checking Chart of Accounts, Foreign Currency Balance column shows zero however Base Currency Balance column does not.
Some Accounts in Chart of Accounts have inactive check box is greyed out
Some Accounts in chart of accounts have inactive check box greyed out.
Unable to add subsidiary in an existing G/L Account
Unable to add subsidiary in an existing G/L Account
Replicating the previous existing Tax Code with a New Rate*.
Step1:-First, navigate to Setup>Accounting>Tax Codes. Step2:-You will see a list of countries and select the one you want to create for. Step3:-To replicate the code, select the Tax Code you wanted to and also refer its GL and verify these below fields:- Include Children (or) not Tax Agency Tax Type Purchase Tax Account Sales Tax… Continue reading Replicating the previous existing Tax Code with a New Rate*.
Merging Accounts (COA)
Merging accounts enables you to combine all the information and transactions from one account into another. Important: Merging bank and credit card accounts automatically un-reconciles the reconciled transactions in the Merge From account. You must re-reconcile these transactions in the register of the Merge To account. You can merge one account into another if they… Continue reading Merging Accounts (COA)
Import Income Accounts
Scenario:- We have to import accounts with type income.For one account, there should be two subsidiaries. For the other one there should be three . And this account will be the child account of the first one. While adding more than one subsidiary to a account through import we can use ‘|’ for separation HEADQUARTERS… Continue reading Import Income Accounts
If the G/L Account has currency (other than Bank a/c)
If we provide a currency in a G/L account, then you cannot post transactions into this account in any other currencies. we can only post the transactions related to that particular currency which is specified in the G/L account (COA). For Example, when we select a currency in the journal, the system will list the… Continue reading If the G/L Account has currency (other than Bank a/c)
Formula to categorize Asset and Liability Account From Account Number
TRS-900 Mostly chart of accounts is categorized by account type and account description. If we need to distinguish accounts from account number we can use formula text when searching accounts. If asset accounts number were starting with the character ‘1’ and liability accounts were starting with ‘2’ we can use the following formula to distinguish… Continue reading Formula to categorize Asset and Liability Account From Account Number