12.1.4. Accounting Setup

The accounting setup for SocrateCloud entities can only be done if Show Accounting Tabs is checked in the User Preferences window located in the Tools menu. The initial accounting setup is described below, for each entity type:

Product

The product accounting setup can be done at category level in the Accounting tab, Product Category window and will be applied to all the related products or, at product level, in Accounting tab, Product window.

Starting with version 2.0, a new account was defined for Products:Purchases not received, that replaces the Inventory Clearingaccount for vendor transactions (material receipt, vendor invoice, matchings).

This is used to post the vendor invoices for stockables that await the receipt and is closed when the Receipt- Vendor Invoice matching is posted in the correspoding Unallocated Cash account.

The posting form for invoices is:

Debit: Purchases not received

Credit: Vendor Liability (or Vendor Asset Related)

The posting form for Receipt-Vendor Invoice matchings is:

Debit: Unallocated Cash

Credit: Purchases not received

This account can be individualised by indicating it at Product Category/Product level.

Business Partner

The business partner accounting setup can be done at group level in the Accounting tab, Business Partner Group window and will be applied to all the related business partners or, at business partner level, in Accounting tab, Business Partner window.

The accounting setup for employees is done in the Employee Accounting tab located in the Business Partner window, Employee tab.

Bank and Accounts

The bank account setup is done for each account in the Accounting tab, located n the Bank window, Account tab.

Cashbook

The accounting setup for cashbooks is done in the Cashbook window, Accounting tab.

Warehouse

The accounting setup for warehouses is done in the Warehouse & Locators window, Accounting tab.