Accounts ⛭

Setup>Configuration>Accounting>Accounts

General

Field
Notes
Current Status
Shows if the Accounts are Open or Closed.
Display Nominal codes
If this box is checked the Account Nominal Codes are shown both in the Chart of Accounts and in the account selection drop-down lists (e.g. on the Item's Accounting tab). See Nominal Codes.
Enable Document history/audit trail
By default, all Transactional Documents, such as Sales Invoices, have an audit history trail that records all the changes made to the Document, and by whom. This checkbox allows you to enable/disable this feature. For more information see Show History.
Create Credit Note for unused payment
When checked a Credit Note will be automatically created for an Unused Payment, i.e. you Receive Payment on the Customer Master before committing to ship the Customer's Order.

Numerical Formats

Field
Notes
Use commas
By default, numbers have comma separators per 1000. This checkbox enables/disables this feature.
On reports display negative numbers in brackets
By default, negative numbers are displayed using a '-' sign, as in normal arithmetic. For accountancy reports, sometimes it is customary to display negative numbers using brackets instead e.g. -123.00 becomes (123.00). This checkbox enables/disables this feature. Note: This feature only applies to Reports and not to Line Items.
Decimal places for costs
Two, three, or four decimal places.
Decimal places for prices
Two, three, or four decimal places.
Decimal places for discounts
Two, three, or four decimal places.
Decimal places for totals/balances
Two, three, or four decimal places.

Discounts

Setting
Options
Discount Calculation
Using Unit Price Cost
Using Total Pre-tax amount

Default Accounts

Users can set default pointers for transactions
Field
Notes
Tax Liability
Sales Tax or VAT liabilities.
Inventory Asset
Stock Inventory Asset Account.
Cost Of Goods Sold
Set COGs account.
Income
Expense
Discount
Post Discount Item entries here unless otherwise specified on the Accounting tab on this Item. See Discount Item.
Markup
Post Markup Item entries here unless otherwise specified on the Accounting tab on this Item. See Markup Item.
Bank Charge
For charges paid for non trading related activities i.e. Banking fees.
Bank Interest
For income recieved from non trading related activities i.e. Bank Interest.
Stock Adjustment
Pending Item Receipts
a.k.a GRNI - Goods Received Not Invoiced. See Item Receipts.
Currency Gains/Losses