Cost Account Types

Use Cost Account Types to group your cost accounts. You can use the groupings to get cost reports that are broken down by account type.

HINT-- Cost Types are a convenient way to classify expense accounts in the Goldenseal accounting software. They are completely optional-- don't use them if they don't make sense for your business.

COST ACCOUNT TYPE BASICS
Entering Company Divisions | Data Fields | Using Lists | Using Cost Account Types

Website Info Links
Accounting Software | Bookkeeping Software | Job Costing Software

RELATED TOPICS
Company Divisions | Job Types | Sales Branches

Entering Cost Account Types

To enter a Cost Account Type, follow these steps:

Choose Account Groups from the Options menu, then choose Cost Account Types from the submenu.
Click the New button, or click on an existing item and click the Edit button.
Enter details for the job type.

Data Fields

Enter the following information for each Cost Account Type:

Name-- Type in a brief name for this cost type. This is the text that will appear in clairvoyant fields when you enter a cost type into cost accounts.
Description-- Type in any comments you'd like to make.
Contract Text-- Enter the text that will be used for this type of cost account, when building contracts.
HINT: Generally you'll use a simple noun that describes the workers who do this type of work.
Expense Account-- Enter the Utility account that will be used to report Expense values. Leave the account blank if you'd like to use the standard accounts.
Payables Account-- Enter the Utility account that will be used to report Accounts Payable values. Leave the account blank if you'd like to use the standard accounts.

Using Cost Account Types

Enter a cost account type in the Cost Type field of each cost account ( Equipment, Employees, Material Suppliers, Subcontractors and Other Costs).

Use cost account types to Find or Sort cost accounts, or to print reports broken down by account type.

HINT-- If you have a construction company, you might want to use cost types such as electrical, plumbing and masonry. That way you can identify your employees, suppliers or subcontractors who work in each of those areas.