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Header accounts are used as titles of groups of accounts.
Header accounts are used only for grouping accounts of a similar purpose. Typically, header accounts have detail accounts under them; that is, detail accounts are assigned to specific header accounts. In the list in the left-hand side of the Accounts List window, header accounts appear in bold type, and their detail accounts appear below them in plain type at the next level.
Transaction amounts can't be assigned (posted) to header accounts -- only to detail accounts.
Header accounts aren't required in AccountEdge, except for the eight Level 1 accounts (asset, liability, income, expense, equity, cost of sales, other income and other expense). Header accounts you create must be either Level 2 or Level 3.
Header Account
Detail accounts are the AccountEdge accounts that have transactions assigned to them.
Each detail account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type.
Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in AccountEdge, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account.
Detail accounts can be Level 2, Level 3 or Level 4.
Detail Account
Tab-delimited files contain fields that are separated by tab characters. For example, if a tab character appears between "Brewster" and "300 Roundhill Drive" in a file of customer information, the file counts "Brewster" and "300 Roundhill Drive" as two separate fields in a record.
Tab-delimited files are often used by popular spreadsheet and worksheet programs.
Tab-delimited File Format
Comma-separated files contain records that are separated by commas. For example, if a comma appears between "Brewster" and "300 Roundhill Drive" in a file of customer information, the file counts "Brewster" and "300 Roundhill Drive" as two separate fields in a record.
Comma-separated files are often used by popular database programs.
Comma-separated File Format
Item invoices are used to record the sale of items and services for which you selected I Sell This Item in the Item Information window. When you save an item invoice, your in-house quantities of the inventoried items (the items for which you also selected I Inventory This Item in the Item Information window) listed on the invoice change accordingly. You can print item invoices and send them to your customers, if you wish.
Item Invoices
Service invoices are used to record the sale of items and services that you didn't enter information about in the Item Information window. This type of invoice allows you to track sales transactions that don't affect your inventory quantities. You can print service invoices and send them to your customers, if you wish.
Service Invoices
Professional invoices are also used to record the sale of items and services that you didn't enter information about in the Item Information window, and include the specific date each item was sold. You can print professional invoices and send them to your customers, if you wish.
Professional Invoices
Time billing invoices are used to record the sale of services or activities for which you've entered information in the Activity Information window. You can enter line items in the Time Billing view of the Sales window by entering billing amounts for activity slips in the Prepare Time Billing Invoice window or by entering line items manually.
Time Billing Invoices
Miscellaneous sales are used to record the sale of items and services that you donít track in the Item Information window, and that don't require a printed invoice.
Miscellaneous Sales
Header records are usually used as titles in import files; for example, some header records in an import file of customers might be titled "Customer Name," "Address" and "Telephone Number." If you indicate that your import file's first record is a header record, that record won't be imported into AccountEdge.
Header Record
Data records are actual information that you want to include in your AccountEdge data file. If you indicate that your import file's first record is a data record, that record will be imported into AccountEdge.
Data Record
Item bills are used to record the purchase of items for which you selected I Buy This Item in the Item Information window. When you save an item bill, your in-house quantities of the inventoried items (items for which you also selected I Inventory This Item in the Item Information window) listed on the bill will change accordingly.
Item Bills
Service bills are used to record the purchase of items and services that you didn't enter information about in the Item Information window. This type of bill allows you to track purchasing transactions that don't affect your inventory quantities.
Service Bills
Professional bills are also used to record the purchase of items and services that you didn't enter information about in the Item Information window; they also include the specific date each item was purchased.
Professional Bills
Miscellaneous bills are used to record the purchase of items and services that you didn't enter information about in the Item Information window, and that don't require a printed record.
The balance of the transaction is due at the time the items are delivered.
C.O.D.
The balance of the transaction is due at the time the transaction occurs. (In other words, no credit is extended to your customers.)
Prepaid
The payment due date and early payment discount date are based on a number of days since the transaction date.
In A Given Number Of Days
The payment due date and early payment discount date are based on the month in which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 10th and the balance due date is EOM, a discount would apply if the balance was paid by April 10 and the entire balance would be due April 30.
On A Day Of The Month
The payment due date and early payment discount date are based on a number of days after the end of the month.
# Of Days After EOM
The payment due date and early payment discount date are based on the month after which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 1st (the first day of the following month) and the balance due date is EOM, a discount would apply if the balance was paid by May 1 and the entire balance would be due May 31.
Day Of Month After EOM
Identifiers are one-letter labels you can assign to cards in AccountEdge to help you organize your cards into groups that are more specific than just Employee, Customer, Vendor or Personal. When you create reports or view information about cards throughout the AccountEdge system, you can limit the information you view to that of a specific group of cards by indicating the identifiers you've assigned to the cards in that group. For example, you could use the letter W to identify your wholesale customers and R to identify your retail customers. Then you could print reports that show information for only one group of customers or the other, or for all your customers.
(If you want to enter descriptions for your identifiers, click the arrow that appears next to the Identifiers window. The Identifiers window will appear, and you can make your entries. Click OK when you've finished making entries in the Identifiers window.)
Identifiers
The balance of the transaction is due at the time the transaction occurs. (In other words, no credit has been extended to your company.)
Prepaid
Asset accounts track things a business owns, such as the money in a checking account, computers and office buildings. Money owed to a business is also considered an asset.
Current assets can be converted into cash (including cash itself) within a relatively short period of time (usually less than a year).
Fixed assets usually take more than a year to convert into cash. An office building can be considered a fixed asset.
Asset accounts are assigned the prefix 1 in MYOB AccountEdge, and normally have a debit balance.
Asset accounts
Liability accounts track things a business owes, such as a working capital loan. Money owed by a business for purchases is also considered a liability.
Current liabilities are due within a relatively short period of time (usually less than a year).
Long-term liabilities usually aren't due for more than a year.
Liability accounts are assigned the prefix 2 in MYOB AccountEdge, and normally have a credit balance.
Liability accounts
Equity accounts track a company's net worth. A company's equity, also known as "owners' equity" or "capital," is calculated by subtracting its liabilities from its assets. Some common equity accounts are current year earnings, retained earnings and shareholders' equity.
Equity accounts are assigned the prefix 3 in MYOB AccountEdge, and normally have a credit balance.
Equity accounts
Income accounts, also known as "revenue accounts," track the increase in equity from the sale of items or services.
Income accounts are assigned the prefix 4 in MYOB AccountEdge, and normally have a credit balance.
Income accounts
Cost of sales accounts track the amount paid to sell an item or service. The amounts tracked by cost of sales accounts are sometimes referred to as "cost of goods sold" amounts.
Cost of sales amounts are subtracted from income amounts to determine gross profit.
Cost of sales accounts are assigned the prefix 5 in MYOB AccountEdge, and normally have a debit balance.
Cost of sales accounts
Expense accounts track the cost incurred when a business attempts to create income.
Expense accounts are assigned the prefix 6 in MYOB AccountEdge, and normally have a debit balance.
Expense accounts
Other income accounts track the income that isn't directly related to a company's operations, such as interest income.
Other income accounts are assigned the prefix 8 in MYOB AccountEdge, and normally have a credit balance.
Other Income accounts
Other expense accounts track the expenses that aren't directly related to a company's operations, such as loan interest and fines.
Other expense accounts are assigned the prefix 9 in MYOB AccountEdge, and normally have a debit balance.
Other Expense accounts