Set up grouping schedules
Grouping schedules enable you to group similar accounts together for reports and financial statements — available in a future release — and to calculate net income in the trial balance. You can add or modify an unlimited number of grouping schedules for your project.
Open your project and click the Groupings tab.
- We recommend that you use the , which you can modify or rename. If necessary, you can add new grouping schedules.
Code |
Description |
Subcode |
Description |
CA |
Current Assets |
CASH |
Cash and Equivalents |
|
|
MS |
Marketable Securities |
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|
AR |
Accounts Receivable |
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|
INV |
Inventory |
|
|
PE |
Prepaid Expenses |
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|
OCA |
Other Current Assets |
NPE |
Net Property and Equipment |
PE |
Property and Equipment |
|
|
NON |
Non-Depreciable Property and Equipment |
|
|
AD |
Accumulated Depreciation |
NCA |
Non Current Assets |
LT |
Long Term Investments |
|
|
IA |
Intangible Assets |
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|
ONCA |
Other Non Current Assets |
CL |
Current Liabilities |
AP |
Accounts Payable |
|
|
CUR |
Current Portion of Long Term Debt |
|
|
NP |
Notes Payable |
|
|
AL |
Accrued Liabilities |
|
|
COMP |
Compensation |
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|
INT |
Interest Payable |
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|
TAX |
Income Taxes Payable |
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|
OCL |
Other Current Liabilities |
LTL |
Long Term Liabilities |
LTD |
Long Term Debt |
|
|
DEF |
Deferred Income Taxes |
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|
OLTL |
Other Long Term Liabilities |
EQ |
Equity |
CS |
Capital Stock |
|
|
CAPC |
Capital Contributions |
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|
CAPW |
Capital Withdrawals |
|
|
APIC |
Additional Paid in Capital |
|
|
TS |
Treasury Stock |
|
|
PE |
Partnership Equity |
|
|
RE |
Retained Earnings |
|
|
OE |
Other Equity |
|
|
DIV |
Dividends |
INC |
Income |
SALE |
Sales Revenue |
|
|
RET |
Returns and Allowances |
COS |
Cost of Sales |
COS |
Cost of Sales |
EXP |
Operating Expenses |
GEN |
General and Administrative Expenses |
|
|
SE |
Selling Expenses |
|
|
RM |
Repairs and Maintenance |
|
|
DEP |
Depreciation Expense |
|
|
OC |
Owners Compensation |
|
|
OOE |
Other Operating Expense |
OI |
Other Income |
Gain |
Gain on Sale |
|
|
OI |
Other Income |
OE |
Other Expenses |
LOSS |
Loss on Sale |
|
|
OE |
Other Expenses |
INT |
Interest Expense |
INT |
Interest Expense |
TAX |
Provision for Income Taxes |
TAX |
Provision for Income Taxes |
MEMO |
Memo |
MEMO |
Memo |
OTH |
Other Miscellaneous |
|
|
- Each grouping schedule is comprised of a set of codes or subcodes. You can add, edit, or delete codes and subcodes. To add a new code, click Add and select Code. In the Add Code panel, enter a name for the code, add a description, and then and a detail.
There are 14 predefined categories available in the application.
Current Assets |
Net Property and Equipment |
Non Current Assets |
Current Liabilities |
Long Term Liabilities |
Equity |
Sales |
Cost of Sales |
Operating Expenses |
Other Income |
Other Expenses |
Interest Expense |
Provision for Income Taxes |
Memo |
- You can modify each grouping schedule by assigning accounts to codes or subcodes. Select one or more ungrouped accounts, select a code or subcode, and then click Group.
Notes
- Each code can have an unlimited number of subcodes.
- When accounts are grouped to revenue and expense codes or subcodes in the Account Classification grouping schedule, the application calculates the net income and displays the balance in the Net Income row of the trial balance. Currently, the application calculates net income for only the Account Classification grouping schedule.
- When accounts are grouped to a code or subcode, you can edit that account from this screen.