![]() |
|
||||
Overhead Accounts |
|||||
|
WORKING WITH OVERHEAD ACCOUNTS ENTERING OVERHEAD ACCOUNT DATA OVERHEAD ACCOUNT RECORDS RELATED TOPICS When to Use Overhead AccountsUse Overhead accounts to track Øindirect" costs that can't be assigned to a customer or project.Goldenseal starts out with one required Overhead account. For many businesses, the one basic Overhead account is sufficient. You may want to create additional overhead accounts to track costs in more detail. Using multiple Overhead accounts is especially useful for the following:
Creating Overhead AccountsTo create a new Overhead account, follow these steps:
Data FieldsEnter the following information for each overhead account:Account Name-- Type in a brief name for the account. This is what will appear in the Chart of Accounts and clairvoyant fields. Job Cost Budget-- Choose a budget Estimate to use for this account. Apply Profit to-- Use the clairvoyant field to select the Equity account where profits or losses from this account will be applied. You can use the Current Earnings account, or any equity account that you created on your own. Distribute to Other Accounts-- If the overhead costs and income from this account will be sent to other overhead accounts, turn on the checkbox, and enter the distribution method. Creation Date-- The date that the account was created is entered automatically. Change if it you like. Category System-- Choose the category system that will be used for classifying costs for this account. Location Package-- Choose the cost locations that will be used for this account. Comments-- Type in any comments you have about this account. Include in Starter File-- Turn on the checkmark if you'd like to include this account when you export a Starter file Calculated FieldsGoldenseal shows the following calculated values for this account:Current Balance-- The current job cost total. Status FieldEnter the current status of this account:Active-- You currently use this account. Inactive-- You don't currently use this account, but you may in the future. Closed-- You definitely don't use this account any more. Distributing OverheadAn overhead account can distribute its costs and income to other overhead accounts. This allows you to set up intermediate accounts which will allocate costs among the primary overhead accounts.To distribute costs and income to other accounts, turn on the Distribute to Other Accounts checkbox, then enter the accounts and distribution percentages. The total percentage that is distributed must add up to 100%. Entering Overhead ExpensesTo enter overhead expenses, follow these steps:
Using Overhead AccountsEach overhead account receives costs and income. You can see which parts of your business are most profitable by checking the status of each overhead account with the Job Costs command.Main Page | Accounts | Lists | Transactions | Menus | Index | Website | User Page |