Grouping of accounts is the vital part in implementing GoodBooks. Based on the grouping only, accounts are classified as Income, Expense, Asset or Liability. This classification is essential in the preparation of Profit & Loss A/c and Balance Sheet. It is highly advisable to consult with your auditor in this regard. Have your previous year P&L and Balance Sheet statements on hand before you start creating the groups.
Click here to see how you can create Account Groups.
Note
Note that the type you specify in the group master is the key in preparing the final accounts. Only based on the classification you have made here, GoodBooks prepares the Profit & Loss and Balance Sheet.
| Cash and Bank Balance |
| Capital Work In Progress |
| ADVANCE FOR EXPENSES |
| Current Assets |
| ADVANCE AGAINST SALARY |
| LOAN TO STAFF |
| ADVANCE AGAINST WAGES |
| LOAN TO WORKERS |
| Fixed Assets |
| Inventories |
| Investment |
| Loan and Advances |
| PreOperative Project Expenses |
| Provisions |
| Debtors |
| Manufacturing Expenses |
| Opening Stock (Mfg.) |
| Opening Stock (Trading) |
| Purchases |
| Closing Stock (Mfg.) |
| Closing Stock(Trading) |
| Sales |
| Administrative Expenses |
| Depreciation |
| Financial Expenses |
| Profit & Loss Account |
| Selling Expenses |
| Trading Expenses |
| Other Income |
| Current Liabilities |
| Society Deductions |
| Reserve and Surplus |
| Secured Loan |
| Share Capital |
| Creditors |
| Unsecured Loan |
Revisions
- January 13, 2016 @ 11:24:14 [Current Revision] by admin
- January 13, 2016 @ 11:24:14 by vv
- January 13, 2016 @ 11:23:27 by vv
- January 13, 2016 @ 11:22:56 [Autosave] by vv
- July 29, 2014 @ 13:27:20 [Autosave] by admin
- July 29, 2014 @ 12:53:53 by vv
- July 29, 2014 @ 12:45:15 by admin
- April 9, 2013 @ 07:12:27 by editor
- February 11, 2013 @ 11:14:14 by admin
- February 11, 2013 @ 11:13:42 by admin
