The Accounts section of the Parameters & Lists menu contains the following to view or add new options to the system.
Use this Window to view Accounting Year parameters, to set up a new Accounting Year and to run period/year end reports. At the beginning of each month, the system’s Accounting period must be manually updated to reflect the current accounting month. Without doing this, invoices or transactions will not be able to be produced.
Transaction types are things such as sales reciepts, payments and invoices. In this window you can view exisitng transaction type parameters or add a new transaction type to the system.
Nominal Levels can be used to group nominal codes together for classification and reporting purposes.
View or add to currencies currently held in the system or update default exchange rates.
View or edit VAT Code parameters, add countries you are VAT registered in.
Examples of payment methods are cheque, cash or visa. This window can be used to view exisitng payment method parameters or add new ones to the system.