Free Accounting Software + Tax Returns, BAS, Bookkeeping and Payroll from Free Accounting Pty Ltd

Free Accounting Software Forum - Hierachy in the Chart of accounts

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22/10/2012
I may be trying to overcomplicate the system. However I am used to a chart of accounts being set up in a hierachy which facilitates reports.

EG 4-5000 Income
4-5001 Men's Shed
4-5100 Membership
4-5200 Donations
4-5300 Event Income

4-6000 Play Group
4-6100 Subscriptions
4-6200 Sales

And so on, without this distinction I'm puzzled how the income from various organisations can be reported seperately and in a similar manner expenses.

Your advice would be appreciated as it didn't seem to be included in any of the video's or the manual
24/10/2012
In terms of the Profit and Loss layout the accounts are sorted in alphabetical order of their name. So you can achieve the order that you are looking for by changing the name of the account to include the code in the beginning, e.g. "4-5300 Event Income". Note in this case the "4-5300" is entered as part of the account name not the account id.

The system cannot do the subtotals, and the accounts cannot be arranged in a hierarchy. Accounts are simply reported in the income, expense, asset, liability, equity groups. For most organisations this is not such an issue as the number of accounts is not that large. I agree it would be nice but it's not available, yet.

In terms of reporting separately another option is to use divisions. Although this is more for separating something like "Memberships NSW" from "Memberships QLD".
20/11/2012
so if i use for example an account for veterinary supplies i can then divide that account into divisions ie cattle and horses (or use "divisions") so i can get a breakdown or a report for cattle and horses in veterinary supplies ? that correct?
26/11/2012
Exactly. You can then see if you are making money from each division. For example, if the cattle division is not making the same profit margin as the horses division you could use this information to review your pricing etc.
 

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