Use Cost Account Types to group your cost accounts. You can use the groupings to get cost
reports that are broken down by account type.
HINT-- Cost Types are a convenient way to classify expense accounts in the Goldenseal
accounting software. They are completely optional-- don't use them if they don't make sense for your business.
COST ACCOUNT TYPE BASICS
Entering Company Divisions | Data Fields | Using Lists | Using
Cost Account Types
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Entering Cost Account Types
To enter a Cost Account Type, follow these steps:
- Choose Account Groups from the Options menu, then choose Cost Account Types from the submenu.
- Click the New button, or click on an existing item and click the Edit button.
- Enter details for the job type.
Enter the following information for each Cost Account Type:
Name-- Type in a brief name for this cost type. This is the text that will appear in clairvoyant fields
when you enter a cost type into cost accounts.
Description-- Type in any comments you'd like to make.
Contract Text-- Enter the text that will be used for this type of cost account, when building contracts.
HINT: Generally you'll use a simple noun that describes the workers who do this type of work.
Expense Account-- Enter the Utility account that will be used to report Expense values.
Leave the account blank if you'd like to use the standard accounts.
Payables Account-- Enter the Utility account that will be used to report Accounts Payable
values. Leave the account blank if you'd like to use the standard accounts.
Using Cost Account Types
Enter a cost account type in the Cost Type field of each cost account ( Equipment, Employees, Material
Suppliers, Subcontractors and Other Costs).
Use cost account types to Find or Sort cost accounts, or to print reports broken
down by account type.
HINT-- If you have a construction company, you might want to use cost types such as electrical,
plumbing and masonry. That way you can identify your employees, suppliers or subcontractors who work
in each of those areas.
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