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Goldenseal Account Types |
There are four basic types of accounts used in Goldenseal accounting software:
NOTE-- Assets and liabilities are the two "classic" types of accounts used in accounting. Goldenseal also uses jobs and cost accounts, since it is very focused on Job Cost Accounting. Job Accounts Use Job Accounts for your customers, projects and other sources of income. Job accounts consume expenses, and generate income (either directly or indirectly).
NOTE-- Equipment, Investment and Real Estate accounts are asset accounts, but they can also be considered as jobs, when you enter expenses or income. Asset Accounts Asset accounts handle any tangible or intangible thing of value in your business. The value of each asset account will be included in the balance sheet as a positive item.
Equipment, Investment and Real Estate accounts can also be considered as job accounts, and Equipment accounts are also listed as cost accounts. HINT-- Goldenseal automatically includes Accounts Receivable as an asset on the balance sheet-- you do NOT need to create an asset account to track it. Liability Accounts Liability accounts handle debts or other financial obligations. The value of each liability account will appear on your balance sheet on the 'minus' side.
We also include two account classes here which are not really liabilities:
HINT-- Goldenseal automatically includes accounts payable, unpaid payroll taxes and unpaid sales tax as a liability on the balance sheet-- you do NOT need to create liability accounts to track them. Cost Accounts Just about any person or business to whom you pay money should be entered as a Cost account.
HINT-- In the Chart of Accounts window you can list Equipment accounts as assets, as cost accounts, or as both. Utility Accounts Utility Accounts are Bookkeeping accounts for abstract items like Accounts Payable. Goldenseal already includes these accounts, and you don't need to set up any of them, on your own. Main Page | Accounts | Lists | Transactions | Menus | Index | Website | User Page | Site Map |