Balance vs Result accounts
We assume you know the difference between Balance accounts and Result accounts. In this app Balance accounts are displayed in red color in most situations (except in reports). The account type are dependent of the account's group membership. Those descended from the Assets or Debts root groups are balance accounts and the remaining (descended from Incomes and Expenses) are Result accounts.
Bank, cash, payables and receivables accounts are Balance accounts hence we are required to copy their closing balances for the current year as opening balance for the following year.
Always make sure that your opening balances on January 1st for the current year always matches the previous year's closing balances for the same accounts!.
NOTE: Opening balance amounts are always saved in the transaction currency.
In order to edit the mainbook balance accounts opening balances: First click the Tables Button and then the Accounts Tab. Select the desired account and doubleclick it to edit its properties:
Account group
This is the account group into which this account's transaction amounts will be accumulated. If you select a balance account group (red color i tree view) this account will become a Balance account (normally red color), otherwise it will be a Result account (which always reset their opening balance at the start of each fiscal year).
Account number
The number of digits of your mainbook accounts are defined in your license, you can check all your numbering masks, languages and other stuff in Settings / App and License data tab.
Alternative number
If you are reporting to an overseas fundraiser or donor, chances are they are using another account plan numbering scheme that you do. So here you may enter (or receive from them) alternative account numbers which suit their need.
Account name
Enter the name of the account here, remember you can use national accounting numbering and names schemes which normally are publicly available in your country or area.
Foreign account name
If you are reporting to an overseas fundraiser or donor, you may add (or receive from them) the account name in their language. Together with the alternative account number feature (above) this enables them to read your accounting reports in their own language using their own account numbering scheme.
Opening balance
This is only applicable for balance type accounts. The opening balance for all Result type accounts are automatically reset to zero at the beginning of the fiscal year.
Currency
This field is not in use at the moment.
In order to edit the accounts receivables / payables opening balances: First click the Tables Button and then the Receivables/Payables Tab. Select the desired account and doubleclick it to edit its properties:
Adding or Editing Accounts Payables / Receivables
To learn more about this app's basic functions when editing data, please click here ...
As the Accounts Payables / Receivables most often addresses companies and people they store different data than the mainbook accounts.
Account group
This is the account groups in which this account's transactions will be accumulated into. This type of accounts are always 'Balance' (red color i tree view).
Account number
The number of digits of your accounts receivables / payablesare defined in your license, you can check all your numbering masks, languages and other stuff in Settings / App and License data tab.
Alternative number
If you are reporting to an overseas fundraiser or donor, chances are they are using another account plan numbering scheme that you do. So here you may enter (or receive from them) alternative account numbers which suit their need.
Account name
Enter the name of the account here, remember you can use national accounting numbering and names schemes which normally are publicly available in your country or area.
Foreign account name
If you are reporting to an overseas fundraiser or donor, you may add (or receive from them) the account name in their language. Together with the alternative account number feature (above) this enables them to read your accounting reports in their own language using their own account numbering scheme.
Opening balance
Make sure you enter the correct opening balance here. It must be an exact match with the previous year's FINAL closing balance. If this is not your first year using NXAccounts you can automatically update these balances by clicking the 'Copy account Balances from previous year...' button in Settings / Account settings tab
Currency
This field is not in use at the moment.
The Address, phone numbers and email address fields are self explanatory, they are not used in calculations or reports.