The layout of the Trading Account, Profit & Loss Account and Balance Sheet is defined here. It is listing of all general ledgers. Each account in the chart of accounts is typically assigned a name and a unique number by which it can be identified. Small business do not assign numbers, often use by big businesses having branches, division etc. Intelligent allows the user to define up to 2 levels of layout for Final Accounts, viz. Account Group and Account. The tree structure in left window show’s account group and right window shows ledgers in that particular group. By right click of the mouse on any group you can add, modify, delete a group. You can add account under any group and can see group summary also. On right click of ledger you can add, modify and delete an account, you can see ledger of particular account.
Example
Simple Chart of Accounts
Group headings – Sales, Cost of Goods Sold, Direct Expenses, Administration Expenses, Selling Expenses, Distribution Expenses, Establishment Expenses, Financial Expenses
Within each of these headings will be the individual nominal ledger accounts that make up the chart of accounts. Establishment expenses may consist of rent, rates, repairs
Balance Sheet Accounts
Asset Accounts —-
Cash, Bank Accounts, Accounts Receivable (Debtors), Prepaid Expenses, Inventory (Stock on Hand), Land, Buildings, Vehicles & Equipment, Investments & Stocks, Accumulated Depreciation and Other Assets
Liability Accounts —-
Accounts Payable (Creditors), Credit Cards, Tax Payable, Employment Expenses Payable, Bank Loans,
Stockholders’ Equity Accounts —-
Common Stock (Share Capital), Retained Earnings (Revenue Reserves), Drawings
Profit & Loss accounts
Revenue Accounts —-
Sales Revenue, Sales Returns & Allowances, Sales Discounts, Interest Income,
Cost of Goods Sold Accounts—-
Purchases and sales Expense All sales Expense Purchase Returns & Allowances
Expense Accounts —-
Advertising Expense, Bank Fees, Depreciation Expense, Payroll Expense, Payroll Tax Expense, Rent Expense, Income Tax Expense, Office Expense, Utilities Expense
