You can set up the Chart of Accounts manually or let the system set up the accounts automatically. In the latter case, the system will set up the chart of accounts based on following rules:
- Income, Cost of Goods Sold and Expense accounts will be set up for the entire company. To build Profit and Loss statements by station and/or departments, the system will use classes with each transaction related to these accounts.
- All other types of accounts such as Assets, Liabilities and so on will be set for each station separately. The recommended setup for these types of accounts for multi-store companies is account series. For more details, see Account Series.
- Sub-accounts must be assigned to the same company as parent accounts.
- Using account numbers is strongly recommended.
The accounts that CStoreOffice® creates are to help you get started. After a CStoreOffice® technician sets up your company, you can add additional accounts, delete accounts you don't need, and modify your company lists.
If the user chooses to set up accounts manually, then transaction assignments must be set up manually as well. For more information, see Transaction Assignments.
Example of Account Numbering
All accounts in the chart of accounts are numbered based on the rules described in this section.
After the initial setup is done, and before the first synchronization with QuickBooks, the user can change account numbers based on his or her own preferences. Account names may also be changed; however, the type of account and its purpose cannot be changed.
For example:
0110.01 Cash on Hand – can be changed to > 11 Petty Cash but it cannot be changed to > 11 CBB Bank account.
The system assigns numbers to the accounts automatically based on the following rules:
An account number consists of four digits. Sub-accounts are described by a decimal and two digits after the four digit account number.
XXXX.XX
1234.56
The first two numbers from the left describe the type of account:
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01-09 |
Cash accounts: Cash, Bank. |
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| 10-19 | A/R |
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| 20-29 | Current Assets | 20xx | Inventory |
| 25xx | Intercompany money transfers | ||
| 26xx | Intercompany money transfers - reserve | ||
| 29xx | Due to/from Stockholders | ||
| 30-39 | Fixed Assets | 30xx | Land |
| 31xx | Building | ||
| 32xx | Equipment | ||
| 33xx | Leasehold improvements | ||
| 34xx | Furniture and fixtures | ||
| 38xx | Accumulated depreciation | ||
| 40-49 | Other Assets | 40xx | Franchise fee |
| 41xx | Accumulated amort. – Franchise fee | ||
| 42xx | Goodwill | ||
| 43xx | Accumulated amort. - Goodwill | ||
| 44xx | Loan fees | ||
| 45xx | Accumulated amort. – Loan fee | ||
| 46xx | Settlement fees | ||
| 47xx | Accumulated amort. – Settlement fees | ||
| 48xx | Security deposits | ||
| 60-69 | A/P |
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| 70-79
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Current liabilities
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70xx | Accrued payroll and taxes |
| 75xx | Credit line | ||
| 80-85 | Long term liabilities | 80xx | Note payable |
| 86-89 | Equity | 86xx | Partner 1 |
| 87xx | Partner 2 | ||
| 88xx | Partner 3 | ||
| 9100-9199 | Income. Since the system is using classes to show Profit and Loss by station/department, we do not need to set up duplicate income accounts for different locations. We can use the same 4 digits for each type of account. For example: - 9100 – Gasoline sales - 9101 – Kerosene sales - 9102 – Diesel sales |
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| 9200-9299 | Cost of sales. Since the system is using classes to show Profit and Loss by station/department we do not need to setup duplicate COG accounts for different locations. |
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| 9300-9499 | Operating Expenses. Since the system is using classes to show Profit and Loss by station/department, we do not need to setup duplicate expenses accounts for different locations. |
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| 9500-9999 | Open |
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The third and fourth numbers from the left – Company ID, station ID:
| 1 | XYZ, Inc. | 0 | Consolidated corporate accounts |
| 1 | Downtown Citgo | ||
| 2 | Broad BP | ||
| 3 | Carson Citgo | ||
| 4 | Walnut Exxon | ||
| 5 | Penn Mobil | ||
| 6 | Liberty BP | ||
| 7 | Braddock Shell | ||
| 2 | ABC, LLC | 0 | Consolidated corporate accounts |
| 1 | Reading Exxon | ||
| 2 | Lancaster BP | ||
| 3 | Coatesville Sunoco | ||
| 4 | Rt30 Sunoco | ||
| 5 | Mount Washington Sunoco |
Up to 9 companies with up to 9 stations in each can be set up this way. If more companies or station set-ups are required, the system will use the three-digit company/station designation (total 5 digits).
For accounts at the company level, for example, a consolidated bank account, the system will use zeros for station IDs.
The numbers after the decimal – Sub-accounts Ex:
| 1 | Cash on hand |
| 2 | Undeposited funds |
| 3 | Store bank |
| 4 | Gasoline bank |
