Use this tab of the form to select default GL accounts to be used for incomes and expenses for all entities or for the selected entity.
Default GL accounts. The Income & Expenses tab
The Profit and Loss field is intended for the default GL account to be used to record the profit or loss that incurred in the current period. Profit and loss is posted to the account as the result of running the month-end closing process. For more information, see Month-End Closing service tool.
Use the Cost of Services field to select the default GL account for accruing the costs of sold services. This account is used for cost allocation if the month-end closing process is done using a method that allocates the expenses proportionally to the cost of goods or services.
The account you select in the Selling Expenses field is used as the default GL account for accruing expenses incurred on consignment sales fees registered in Consignee Report document.
The Other Operating Expenses field is intended for selecting the default GL account to register other operational expenses related to the company's main business activity. It is used by default for the inventory write-offs and other expenses.
The Other Operating Income field is intended for selecting the default GL account to be used for posting of other incomes related to the company's main business activity.
The account you select in the Bank Charges field is intended to accrue the paid bank charges.
The account you select in the Finance Income field is intended for accruing the interests paid by the employees on their loans.
The Income Deferred account is used in cheque accounting if the Off-Balance-Sheet Cheque Accounting option is selected on the Administration > Settings > Money form. This account is used for Cheques Received.
The Expenses Deferred account is used in cheque accounting if the Off-Balance-Sheet Cheque Accounting option is selected on the Administration > Settings > Money form. This account is used for Cheques Issued.