Add Account

You can add a Detail Account name anywhere in the Account Names List so long as it follows an existing Detail or Summary account name in the Account Name list.

You should first decide what sort of account you want to add, and then scroll to the relevant section of the Account Names List. Scrolling through the list you will see the fixed sequence of Category accounts:

INCOME. Salary, dividends, interest, fees, commissions etc.

EXPENDITURE. Rent/Mortgage, household, food, clothing, medical, travel, personal etc.

FIXED ASSETS. Things you own that cannot quickly be turned into cash, usually real estate.

SECURED LIABILITIES. Money borrowed against the security of fixed assets, usually mortgages.

CURRENT ASSETS. These things that can easily be turned into cash eg your automobile, household possessions, jewellery, hi-fi etc. Also any money owed to you, and your Bank accounts.

CURRENT LIABILITIES. This is money that you owe to others and includes all your charge accounts.

CAPITAL. As an ordinary private individual you will only have one account in this category - your Net Worth. You need only make entries directly to this account when you enter the value of your assets and liabilities for the very first time. The system will look after this account thereafter.

RESERVES. These are any deferred liabilities that you may have, ie things you will have to pay next year but which really relate to this year. Taxes not assessed until the following year are one example.

If you add an account name in the Current Asset or Current Liability category, the system will ask you if the account is to be a Bank or Charge account and if so, what currency the account is to be kept in.

Input

Account Number. The system will check the number of the preceding and following Detail accounts, and will suggest the number to be used for this new Detail account. You can change it to any other number that falls between the preceding and following Detail account numbers.

Account Name: You can enter any name that is relevant to you.

Account Type. You can select either Bank, Charge, Debtor, Creditor, Customer or Supplier Account only if you are in the Current Assets or Current Liabilities section of the Account Names List.

Currency. You can change the currency if this is a Bank, Charge, Debtor, Creditor, Customer or Supplier Account by selecting from the list of foreign currencies shown in the dialog.