Maconomy Workspace Client Help

Account Information Card Tab

This section includes the fields and descriptions for the Account Information Card tab.

Account Island

Field Description
Account Here you enter the name and number of the account you are creating. Maconomy checks that the number is not already being used. The account number is the sole and absolute identification of the account. To retrieve an existing account in the window, use the search functions in the Find menu.

The structure of the chart of accounts is defined in the Account Structure workspace. The structure is thus independent of the account number. It will, however, be an advantage to sort the account numbers in numerical groups, as you select ranges of account numbers in many selection criteria fields. For further information, please see the field “Account Type.”

The field is alphanumeric; it can include both numbers and letters. Because accounts are sorted by number in the printed balance sheet, it is recommended that you use the same number of characters for all accounts. Also note that standard Maconomy printouts only include up to ten characters.

Department Here you assign the account to a department selecting from existing departments in the pop-up field. Dividing the chart of accounts into departments is important when printing, as you can choose to print per department. Furthermore, as Maconomy’s P&L accounts all refer to a department, you can obtain individual departmental results and print these.

You maintain your company’s departments in the Posting References workspace.

Blocked This field shows whether the account is blocked. If the field is marked, the account is blocked and Maconomy will reject all entries to it. You cannot post a journal with entries to a blocked account.

Account Information Island

Field Description
Account Type In this field, you specify the account type. Maconomy has two kinds of posting accounts: “Manual” and “Control.”
  • ”Manual” means that you can enter manual entries to the account in the General Journal workspace.
  • ”Control” means that you cannot enter manual entries in the General Journal workspace. This account type is used for accounts to which Maconomy makes automatic entries from other modules.

    When you create a control account or change a manual account into a control account, Maconomy will automatically create a dimension combination of the type “Posting Reference” in the Dimension Combinations workspace. The number of the automatically created dimension combination will be the number of the control account. Furthermore, the account description is transferred to the dimension combination.

    By preventing manual entries, you can balance accounts against the modules. For example, you can balance customer control accounts against a customer balance, aging list, or currency positions. Note that if the account type is changed from control to manual, you lose this ability to balance accounts. You are therefore recommended not to change account type.

P&L/Balance Sheet Here you specify whether the account is a Profit & Loss (P&L) or balance sheet account. This has significance for the year-end result. The closing balance for a balance sheet account is transferred as opening balance, whereas the closing balance for a P&L account is transferred to the opening balance of the new Retained Earnings Account. The opening balance for a P&L account will hereafter be zero in the new fiscal year. The Retained Earnings Account is entered as a dimension combination in the System Information workspace in the Set-Up module.

Note that when the fiscal year is closed, you can no longer change existing P&L accounts to balance sheet accounts and vice versa.

Tax Code In this field you can select a tax code. The tax code is a reference to a G/L account for ingoing and outgoing tax, respectively. The options for this field are created in the G/L Tax Codes workspace. The G/L tax code is used by Maconomy to calculate tax when you add entries in various windows. Maconomy automatically retrieves the tax rate and the tax account when you enter the account number. However, you can change the tax code as you add entries. This field is only relevant for manual accounts.

You can add up to three different tax codes if necessary. To enable multiple tax codes, the system parameters “Show Three Tax Levels” and/or “Show Two Tax Levels” must be marked in the System Parameters workspace. When multiple tax codes are enabled, the “Tax Code” field will be replaced by the following fields: “Tax Code 1,” “Tax Code 2,” and, if enabled, “Tax Code 3.” For further information on multiple tax codes, please see the description in “Tax Codes.”

Item Tax Code In this field, you can specify a company tax code created in the Popup Fields workspace in the Set-Up module. The field is used by Maconomy for determining the tax code to be used in the calculation of tax on entries on which the current account is used. The item tax code is part of the criteria for the selection of a G/L tax code in the G/L Tax Tables workspace if a G/L tax table has been specified for the company responsible for the entry in question.

If no G/L tax table has been specified, or if no lines in the G/L tax table match the entry in question, Maconomy uses the G/L tax code specified in the field “Tax Code” for the current account.

When you post entries, the item tax code is used for determining which tax report entries to create. Based on the tax report entries, you can create tax reports showing the tax and tax basis entries assigned to a given tax report field. However, this kind of reporting can only be made if the field “Extended Tax Reporting” has been selected in the System Information workspace.

Account Group In this field, you select an account group. Account groups are used for grouping accounts so that when printing the Account Information Card you can print the accounts of all account groups together or just a single group. Account groups are created in the pop-up field “Account Group” in the Popup Fields workspace in the Set-Up module.
Allocation Code In this field, you can specify an allocation code. When you specify the current account on a line in the General Journal workspace, the allocation code specified here is automatically transferred to the line in question. Allocation codes are created in the Allocation Codes workspace and are used for automatic allocation of amounts entered in the General Journal workspace in percentages on a number of dimensions. See also the Allocation Codes workspace.
Currency Here you can select the currency of the account. You cannot change the currency after making entries to the account.
Currency Account If you mark this field, manual entries made to the account in the General Journal workspace must be made in the currency specified in the field “Currency” above. This may be practical if the account represents a bank account kept in a given currency.

Only accounts where this field is marked are included in currency reports.

Reconciliation Here you determine whether to apply finance reconciliation to the account. If you mark the field, the account becomes accessible in the Finance Reconciliation workspace.
Bank Reconciliation This field shows whether bank reconciliation is applied to the account. The box will be checked automatically if the current G/L account is attached to an external account which is reconciled with a bank. External accounts are created in the External Accounts workspace in the Banking module in connection with payments, customer payments, and bank reconciliation.

Dimension Combination Island

Field Description
Dim. Comb. No. In this field, you can enter the number of a dimension combination of the type “Dimension Derivation” created in the Dimension Combinations workspace.

If you specify a dimension combination, Maconomy will use the values in this dimension combination when deriving dimensions from the current account. However, any dimension derivation values specified in this island will be used instead of those specified for the same dimensions in the dimension combination. This means that the dimension combination only applies to the dimensions for which no value has been entered on the account information card.

The functionality on period-specific sets of derived dimension values in the Derived Dimensions workspace, which is described in the field “Location” below, also applies to this field.

See the section on dimension derivation in “Introduction to the G/L module,” as well as the description of the Dimension Derivation and Dimension Combinations workspaces in the G/L module for further information about dimension derivation.

Description In this field, you can enter a description for the dimension combination entered above.

Print Control Island

Field Description
Statistics 1-4 Here you can enter any code used to specify a target group in printed statistics.
Invert Sign If you mark this field, movements and balances will be shown with inverted signs, that is, credit amounts will be shown as positive figures and debit amounts as negative figures. This applies to the Print Trial Balance and Print Balance Sheet workspaces.

Balance Island

Field Description
Quantity 1 This field shows the account’s quantity balance. The field is updated when you post journals with quantity entries. Quantity can be entered in the general journal, and can be used for currency holdings, how much oil you have purchased during the year, and so on. If you have marked the “Post Quantity” field in the System Information workspace in the Set-Up module, Maconomy will transfer the quantities in the posted invoices and credit memos to the relevant item sales accounts when you post invoice journals. The field will also be updated at the year-end close and when you extend the fiscal year. Please note that if the system parameter “Update balance on account information card” is not marked, the amounts in this field are not kept up to date, neither when posting entries nor when performing year-end closing. If the system parameter “Update balance on account information card” is not marked, this field will therefore show the balance of the account at the time when the parameter was unmarked. You cannot change the field’s value here.
Quantity 2 The functionality of this field is similar to that of the field “Quantity” above.

User Island

See the chapter “Getting Started” for a description of the fields in the User island.

Remarks Island

In these fields, you can enter supplementary comments regarding the current account.

Derived Dimensions Island

Field Description
Location In this field, you can specify a value for the Location dimension if you want this value to be derived from the current account. If you also want this value to overwrite any existing values for the dimension, you can indicate this by checking the “Overwrite” check box. If you do not choose overwriting, the dimension value will only be transferred to a table line being created if the “Location” field on the current table line is not filled in manually or through a registration code.

Even if you have specified a dimension combination in the field “Dim. Comb. No.” above, a value entered in this field will be used rather than the value (if any) found for this dimension in the dimension combination in question. This means that the dimension combination only applies to this dimension if you have not entered a value in this field.

Please note that if a dimension combination has been specified in the field “Dim. Comb. No.,” a mark in the field “Overwrite” will only have effect if you have also entered a dimension value. If you mark the field “Overwrite,” but you do not enter a dimension value in this field, the “Overwrite” field is ignored, as dimension values and overwriting specification are always retrieved together from the same dimension derivation island, dimension combination or dimension combination line.

In the Derived Dimensions workspace, you can create period-specific sets of derived dimensions if the dimension values to be derived from the current account should vary, depending on the entry date of the registrations to which dimension values are derived from the current account. In this context, the value in this field is always reflected in the corresponding field on the dimension derivation line that has a blank ending date, and changing the dimension values in this field will cause the corresponding information on that dimension derivation line to be updated accordingly, and vice versa.

When you create an account, Maconomy automatically creates a line in the Derived Dimensions workspace with the information specified in this island, and a blank starting and ending date, indicating that this line applies on all registrations regardless of entry date. In effect, as long as you do not need the dimension values derived from the account to change on a given date, you only need to enter dimension derivation information in this island.

Please note, however, that if you have added a period-specific set of derived dimensions in the Derived Dimensions workspace, the dimension derivation line that has a blank ending date is not necessarily the dimension derivation line valid on today’s date. You should therefore be aware that if period specific sets of derived dimensions have been created for the account, the dimension values derived from the current account are not necessarily those specified in this island.

See the section on dimension derivation in “Introduction to the G/L module,” as well as the description of the Dimension Derivation and Dimension Combinations workspaces in the G/L module for further information about dimension derivation. For information on period specific sets of derived dimensions, see the Derived Dimensions workspace in the G/L module.

Entity The functionality of this field is similar to that of the field “Location” above.
Project The functionality of this field is similar to that of the field “Location” above.
Purpose The functionality of this field is similar to that of the field “Location” above.
Spec. 1-3 The functionality of these fields is similar to that of the field “Location” above.
Local Spec. 1-3 The functionality of these fields is similar to that of the field “Location” above.

Registration Control Island

Field Description
Employee No. By marking the column “Allowed,” you can specify that entering an employee number is allowed when you post on the current account. If the field is not marked, Maconomy will reject any employee number specified on manual postings to the current account. Furthermore, an employee number specification will only be transferred from a journal to a G/L entry if this field is marked on the account information card.

If you want to be able to enter an employee on a manually entered customer or vendor entry, this field must be marked on the associated customer and vendor control accounts.

In the column “Required,” you can specify that an employee number must be entered on manual postings to the current account. If no employee number is specified, the entry will be rejected.

Tax Code By marking the column “Allowed,” you can specify that entering a tax code is allowed when you post on the current account. This also includes postings made as a result of registering time and expenses on activities using the current account as P/L account. If the field is not marked, Maconomy will reject any tax code manually specified on manual postings to the current account.

If you want to be able to enter a tax code on a manually entered customer or vendor entry, this field must be marked on the associated customer and vendor control accounts.

Registration Control, Dimensions Island

Field Description
Location You can check the “Allowed” column to make it possible to assign any dimension value to the current account. If the field has not been checked, Maconomy will reject dimension values other than the standard dimension value when making entries on the current account. Also, location entries can only be transferred from a journal to a G/L entry if the dimension “Location” has been marked on the account information card.

If you wish to enter a Location value on a manually entered customer or vendor entry, the relevant control accounts must also be marked here.

You can check the “Required” field to make it mandatory for the user to enter a Location value, either through manual entry or a registration code. The user can, however, enter the standard dimension value, but only manually. Maconomy will disallow any entries without a Location specification.

Entity The functionality of this field is similar to that of the field “Location” above.
Project The functionality of this field is similar to that of the field “Location” above.
Purpose The functionality of this field is similar to that of the field “Location” above.
Spec. 1-3 The functionality of these fields is similar to that of the field “Location” above.
Local Spec. 1-3 The functionality of these fields is similar to that of the field “Location” above.

Finance Entry Island

Field Description
Transfer Mark the following check box(es) as appropriate:
  • Customer No. — Here you can specify whether customer numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting customer or job entries. For instance, Maconomy creates a number of G/L entries when you post an invoice in the Sales Orders module or a job invoice in the Job Cost module. In this case, the number of the customer to whom the invoice or the job pertains will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Vendor No. — Here you can specify whether vendor numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting vendor entries. For instance, Maconomy creates a number of G/L entries when you post a vendor invoice or an invoice allocation in the A/P module. In this case, the number of the vendor to whom the vendor invoice pertains or the job number from an invoice allocation line will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Job No. — Here you can specify whether job numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting job entries. For instance, Maconomy creates a number of G/L entries when you post a job invoice in the Job Cost module. In this case, the number of the job to which the invoice pertains will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Activity No. — Here you can specify whether activity numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting job entries. For instance, Maconomy creates a number of G/L entries when you post a job journal in the Job Cost module. In this case, the number of the activity specified on each journal line will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Task — Here you can specify whether tasks should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting job entries. For instance, Maconomy creates a number of G/L entries when you post a job journal in the Job Cost module. In this case, the task specified on each journal line will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Item No. — Here you can specify whether item numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting item entries. For instance, Maconomy creates a number of G/L entries when you post an inventory change transaction in the Inventory module. In this case, the number of the item to which the inventory change pertains will be transferred to G/L entries posted on the accounts on which this field is marked.
  • Asset No. — Here you can specify whether asset numbers should be transferred to G/L entries on the current account when Maconomy creates G/L entries in connection with posting asset entries. For instance, Maconomy creates a number of G/L entries when you post an asset entry in the Fixed Assets module. In this case, the number of the asset to which the asset entry pertains will be transferred to G/L entries posted on the accounts on which this field is marked.