accountchart

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accountchart [2025/02/06 08:59] – chillhubadminaccountchart [2026/04/27 08:31] (current) – chillhubadmin
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-==== Account Charts ====+==== Charts of Accounts ====
 If you’d like to use the accounting features in Chillhub, refer to the following guide for step-by-step instructions on configuring the chart of accounts, account rules, and financial periods. If you’d like to use the accounting features in Chillhub, refer to the following guide for step-by-step instructions on configuring the chart of accounts, account rules, and financial periods.
 +  * [[accountchart#manage_chart_of_accounts|Manage Chart of Accounts]]
 +    * [[accountchart#account_form|Account Form]]
 +  * [[accountchart#configuring_financial_period|Configuring Financial Period]]
 +    * [[accountchart#financial_period_form|Financial Period Form]]
 +  * [[accountchart#manage_account_rules|Manage Account Rules]]
 +    * [[accountchart#account_rules_form|Account Rules Form]]
 +For more information on accounting features and financial reports, please refer to the [[accountreport|Accounting & Financial Reports]].
  
 === Manage Chart of Accounts === === Manage Chart of Accounts ===
   - Log in to [[https://app.chillhub.com.my|Chillhub App]].   - Log in to [[https://app.chillhub.com.my|Chillhub App]].
-  - Navigate the Invoice page by selecting **Menu** -> **Accounting** -> **Accounts Chart** \\ {{:coa:coa_2.jpg?200|}} \\ {{::coa:coa_1.jpg?600|}}+  - Navigate the Accounts Chart page by selecting **Menu** -> **Accounting** -> **Accounts Chart** \\ {{:coa:coa_2.jpg?200|}} \\ {{::coa:coa_1.jpg?600|}}
   - The following options are located on the toolbar   - The following options are located on the toolbar
     * {{mdi>magnify?24}} **Search**: Allows you to search for specific data     * {{mdi>magnify?24}} **Search**: Allows you to search for specific data
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     * Current Asset: //Short-term assets expected to be converted into cash within one year (e.g., cash, inventory, accounts receivable)//      * Current Asset: //Short-term assets expected to be converted into cash within one year (e.g., cash, inventory, accounts receivable)// 
     * Non-current Asset: //Long-term assets that will not be liquidated within a year (e.g., land, buildings, equipment)//      * Non-current Asset: //Long-term assets that will not be liquidated within a year (e.g., land, buildings, equipment)// 
 +  * **Obsolete**: Mark this account as obsolete to indicate it is no longer used. Obsolete items will be hidden from selection in future transactions but retained for historical records. 
   * **Liability Type**: Current Liability/Non-Current Liability (only applicable when root type is **Liability**)   * **Liability Type**: Current Liability/Non-Current Liability (only applicable when root type is **Liability**)
     * Current Liability: //Debts or financial obligations expected to be settled within one year (e.g., accounts payable, SST tax payable).//      * Current Liability: //Debts or financial obligations expected to be settled within one year (e.g., accounts payable, SST tax payable).// 
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   * //Cash Account Attributes//   * //Cash Account Attributes//
     * **Cash Account**: Indicates that the account can be used for receiving or making payments (e.g., bank accounts, cash in hand). Only applicable when root type is **Asset**     * **Cash Account**: Indicates that the account can be used for receiving or making payments (e.g., bank accounts, cash in hand). Only applicable when root type is **Asset**
 +    * **Credit Card Payable**: Indicates that the account can be used for making payments. Only applicable when root type is **Liability**
     * **Exclude from Statements**: Prevents payment transactions related to this account from appearing in **debtor or creditor statements**. This is useful for handling overpayments or advance payments, which can be applied to future invoices instead of being refunded. Only applicable for **Cash Account**     * **Exclude from Statements**: Prevents payment transactions related to this account from appearing in **debtor or creditor statements**. This is useful for handling overpayments or advance payments, which can be applied to future invoices instead of being refunded. Only applicable for **Cash Account**
   * //Inventory Account Attributes//   * //Inventory Account Attributes//
     * **Inventory Account**: Indicates that the account is an inventory account. Only applicable when root type is **Asset**     * **Inventory Account**: Indicates that the account is an inventory account. Only applicable when root type is **Asset**
     * **Cost of Good Sold Account**: The corresponding Cost of Goods Sold (COGS) account when inventory items are sold. Only applicable for **Inventory Account**     * **Cost of Good Sold Account**: The corresponding Cost of Goods Sold (COGS) account when inventory items are sold. Only applicable for **Inventory Account**
-    * **Inventory Adjustment Account**: The corresponding Cost of Goods Sold (COGS) account when there are adjustment on the inventory item. Only applicable for **Inventory Account**+    * **Inventory Adjustment Account**: The corresponding Cost of Goods Sold (COGS) account when there are adjustments on the inventory item. Only applicable for **Inventory Account** 
 +  * //Liability Account Attributes// 
 +    * **Taxes Payable/Deferred Account**: Marks the account as used for tracking tax amounts. Only Applicable when the root type is **Liability**.
   * //Expense Account Attributes//   * //Expense Account Attributes//
     * **Cost of Goods Sold**: Indicates that the account is a COGS account, covering any costs directly tied to producing products sold to customers (e.g., direct labor wages, purchase price, shipping costs). Only applicable when root type is **Expenses**.     * **Cost of Goods Sold**: Indicates that the account is a COGS account, covering any costs directly tied to producing products sold to customers (e.g., direct labor wages, purchase price, shipping costs). Only applicable when root type is **Expenses**.
     * **Non-cash Expenses**: Expenses such as Depreciation and Amortization, which do not involve actual cash transactions. Only applicable when root type is **Expenses**.     * **Non-cash Expenses**: Expenses such as Depreciation and Amortization, which do not involve actual cash transactions. Only applicable when root type is **Expenses**.
 +=== Configuring Financial Period ===
 +  - Navigate to Accounts Chart page
 +  - Click {{mdi>calendar-range?24}} **Configure Financial Period** button at the top right.
 +  - Managing Financial Periods:
 +    * To create new financial period, click {{mdi>plus?24}} **New** button at the top right.
 +    * To edit existing financial period, click {{mdi>pencil?24}} button in the corresponding data table row.
 +    * To delete existing financial period, click {{mdi>delete?24}} button in the corresponding data table row.
 +== Financial Period Form == 
 +Define a financial period by specifying its name, start and end dates, and setting up opening balances for relevant accounts.\\ {{:coa:coa_4.jpg?400| }}
 +  * **Financial Period Name**: Name of the financial period.
 +  * **Start Date**: The beginning date of the financial period.
 +  * **End Date**: The ending date of the financial period.
 +  * **Opening Balance Data Table**:
 +    * **Account**: The account to which the opening balance applies. (read-only)
 +    * **Opening Balance**: The initial balance carried forward for the selected account.
 +=== Manage Account Rules ===
 +  - Navigate to Accounts Chart page
 +  - Click {{mdi>gavel?24}} **Configure Rules** button at the top right.
 +  - Managing Account Rules:
 +    * To create new account rules, click {{mdi>plus?24}} **New** button at the top right.
 +    * To edit existing account rules, click {{mdi>pencil?24}} button in the corresponding data table row.
 +    * To delete existing account rules, click {{mdi>delete?24}} button in the corresponding data table row.
 +== Account Rules Form == 
 +Define account rules to specify default accounts for particular transactions and industries. \\ {{:coa:coa_5.jpg?400| }}
 +  * **Account Rule**: Name of the account rule.
 +  * **Industry**:(Optional) Specifies default accounts based on industry type (e.g., a specific Revenue or Inventory Account for a particular industry).
 +    - Create a new account rule
 +    - Specify the industry to override default settings.
 +    - Assign the default accounts to be overridden.
 +  * **Default Cash Account**: Default cash account for payment transactions.
 +  * **Default Cash on Hand**: The default cash account used when the payment method is **Cash**.
 +  * **Default Bank Account**: The default cash account used when the payment method is **Bank Transfer**.
 +  * **Default E-Wallet Account**: The default cash account used when the payment method is **E-Wallet**.
 +  * **Default Cheques Clearing Account**: The default cash account used for customer payment when payment method is **Cheque**
 +  * **Default Card Clearing Account**: The default cash account used for **Customer Payment** when payment method is **Credit Card** or **Debit Card**
 +  * **Default Card Payable Account**: The default account used for **Supplier Payment** when payment method is **Credit Card** or **Debit Card**
 +    * Must be **Liability** account with **Credit Card Payable** enabled
 +  * **Inventory Tracking Method**: Determines whether inventory and COGS are updated in real time (Perpetual) or at period end (Periodic).
 +    * **Perpetual**: Purchases are recorded in the Inventory Account, with inventory and COGS updated in real time with each purchase and sale transaction.
 +    * **Periodic**: Purchases are recorded in the Purchase Account, with inventory and COGS updated manually at the end of each financial period.
 +  * **Default Inventory Account**: Default account for recording inventory movements under the Perpetual method.
 +  * **Default Purchase Account**: Default account for recording inventory purchases under the Periodic method.
 +  * **Default Sales Revenue Account**: Default account for recording sales (product) revenue.
 +  * **Default Service Revenue Account**: Default account for recording service related revenue.
 +  * **Default Accounts Payable Account**: Default account for supplier payables.
 +  * **Default Accounts Receivable Account**: Default account for customer receivables.
 +  * **Default Foreign Exchange Gain Account**: Default account used to record gains arising from favorable exchange rate differences in foreign currency transactions.
 +  * **Default Foreign Exchange Loss Account**: Default account used to record losses arising from unfavorable exchange rate differences in foreign currency transactions.
 +  * **Default Unearned Revenue Account**: Default account used for recording advance payments received for sales orders.
 +  * **Default SST Payable Account**: Default account used for tracking Service Tax or Sales Tax that is already due.
 +  * **Default Service Tax Deferred Account**: Default account used for tracking Service Tax invoiced but not yet due until payment is received.
 +
 +<aichat button float>Welcome to Chillhub AI Assistant. I can help you understand and use your ERP system.</aichat>
    
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  • Last modified: 2025/02/06 08:59
  • by chillhubadmin