Chart of Accounts

PROBLEM

Setting up a 'chart of accounts' in MacNail Construction Accounting Software

DIAGNOSIS

When people ask how to do a 'chart of accounts', you have to ask them what they want to accomplish.

Usually this comes from someone who has used Quickbooks, MYOB or another program that uses a 'classic' chart of accounts to identify payees, expenses, etc.

SOLUTION

1. To distinguish between vendors, that info goes in Master Index and then in the 'payee' column.
2. To distinguish between costs for different jobs, use the 'job' column.
3. To distinguish between different construction costs on a job, use the 'cat' column and job costing.
4. To split up 'overhead' costs such as utilities, supplies, etc, use the Office Cost Control file. It already comes with basic 'overhead' type costs, and they can add/change/delete the list or change the codes if they so desire.

We aren't a double-entry system where you create a zillion accounts to handle each kind of transaction, but instead have different places to put different types of information.

COMMENTS

Entered 1/8/93 by Dennis.