Accounting Settings

View - Settings - Accounting

In the window Accounting settings you have access to all accountancy related settings for the active company database as well as some settings relating to the transfer of accounting data from other modules.

New : Via this button you open the window where you can create a new accounting year. Click on the arrow beside this button if you need to create the previous accounting year. You can read more about creating accounting years in Accounting Year and VAT Periods.

Tip! When there are two months remaining until the accounting year is over, you will automatically receive a reminder and be asked if you wish to create a new accounting year. If you answer Yes to this question the system will create the new accounting year for you.

The Accounting year and Current period can be changed according to your needs. Any changes will affect all journals that are entered, both for direct journal entry and for automatic entries using the sales/invoicing and purchasing modules.

Note! If you have selected Period given by date in the user settings for the Journal Entry module, this setting will override the current period and financial year defined in the Accounting settings.

The First month of accounting year is usually January. If your accounting year deviates from this, you can change it. You cannot edit this field if you have invoiced or posted journal entries in the new accounting year.

The default No. of VAT periods is 6 in Ireland (one every second month). If the accounts follow other reporting routines (in other countries), this can be altered here.

By selecting the option Allow long account numbers (more than four digits) you are able to enter account numbers with up to 7 digits.

You can also customise the accounting module by defining the user settings for Financials and Journal Registration.

Read more in User Settings for Financials

The Tabs

The main contents of the Accounting settings are in the tabs. Here there are many options for user customisation, as well as an overview of nearly all the N/Cs and journal types which all the modules in the system use.

Periods
Here, you can see which periods and associated VAT periods are closed in the accounts, when the period was closed and which user carried out the period closure. You cannot make any changes in this tab; it only provides an overview. Read more about Period End

Module Settings
Use the Module Settings tab to define default settings for the different accountancy modules. The settings you define applies to all company database users.
	Default receipts/payments accounts	Chart of Accounts
	Currency	Cost centre
	Cash VAT	Intrastat Settings

Accounting Settings
You can define several settings on the Accounting Settings tab.
	Control Accounts	Reports
	Journal Type Settings and Number Series	Maintenance of VAT rates
	Layout of Accounts

Customer & Supplier Ledger
All settings pertaining to the customer and supplier ledgers can be found on the Customer & Supplier Ledger Tab.
Customer & Supplier Ledger Settings

Notes
You can enter notes about the accounts here.

Integration
You can access integrations with the Financial module.Additional licenses and/or costs might be required.
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Link to accounting/auto_collect/concept-file (NO, SE, DK)
Link to compello concept file (NO only)