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How To Select Accounting Financial Section

How To showing how to select the correct financial sections for accounts in relation to reporting
  • Last Update:2016-02-09
  • Version:001
  • Language:en

Financial section is used by ERP5 to determine the structure of the reports (Income statement and Balance sheet). This How To will show you which section accounts should be associated to

Table of Contents

Financial Sections Explained

When you select a section, you select the section in which the account balance will appear in the Balance sheet and in the Income Statement. The structure of your financial reports can be customised if you have a premium account.

If you prepare an import spreadsheet for accounting account, you must refer to the id of the category.

Accounting reports structure

See Income statement structureor Balance sheet structure.

Income Statement structure goes as follows:

INCOME EXPENSE
  1. Revenue
    • ...............
  2. Non Operating Income
    • ...............
  3. Interest Income
    • ...............
  1. Operating Expenses
    • ...............
    • Cost of Sales
    • Selling, General and Administrative Expenses
    • Other
  2. Non Operating Expense
    • ...............
  3. Interest Expense
    • ...............

Balance sheet structure goes as follows:

ASSET LIABILITY
A- Long Term Assets
  1. ...............
  2. Fixed Assets
    • ...............
    • Deprecation of Fixed Assets
  3. Intangible Assets
    • ...............
    • Deprecation of Intangible Assets
  4. Financials Assets
    • ...............
    • Deprecation of Financials Assets
B- Current Assets
  1. ...............
  2. Inventories
    • ...............
    • Deprecation of inventories
  3. Trade and Other Receivables
    • ...............
    • Deprecation of Trade and Other Receivables
  4. Cash and Cash Equivalents
A- Equity
  1. ...............
  2. Share Capital
  3. Profit or Loss
B- Long Term Liabilities
  1. ...............
  2. Loans
  3. Others Liabilities
C- Current Liabilities
  1. ...............
  2. Accounts Payable
  3. Other Current Liabilities

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