Utility Accounts

Utility accounts are "classic" bookkeeping accounts.  The Goldenseal accounting software uses them to keep track of expenses, revenues, accounts payable, accounts receivable, and similar bookkeeping items.

WORKING WITH UTILITY ACCOUNTS
        When to use Utility Accounts | Editing Utility Accounts
        Viewing Transactions in a Utility Account | Using in Reports

ENTERING UTILITY ACCOUNT DATA
        Creating new Expense Accounts | Creating new Revenue Accounts
        Creating other Utility Accounts | Viewing a Utility Account | Reporting Types
        Data Fields

UTILITY ACCOUNT RECORDS
       Entering Records | Changing Records | Deleting Records | Voiding Records
       Finding Records | Sorting Records | Fixing Mistakes

Website Links
       Accounting Software | Bookkeeping Software | Business Management Software

RELATED TOPICS
       Utility Account calculations

When to use Utility Accounts

Goldenseal uses utility accounts "behind the scenes" to manage some tasks. You can also create your own utility accounts if you'd like to use "classic" accounting within Goldenseal.

HINT-- Even if you never look at them, Utility accounts will still keep the accounting functions running smoothly.

Viewing a Utility Account

To view utility accounts, follow these steps:

  1. Choose Utility Accounts from the Accounts menu.
  2. You'll see a browser window that shows all utility accounts.
  3. Click on the Browser control to move to a different account.

HINT-- You can also use the Find command to locate a specific account.

Utility Account Fields

Each Utility account contains the following fields:

Account Name-- Type in a short name for the account. This is the text that will be displayed in menu fields. The account name for standard accounts cannot be changed.
Comments-- Type in any comments you have about this account.
Include in Starter File-- Turn on the checkbox if you'd like to include this account when you create a new starter file.

HINT-- Goldenseal automatically includes the basic Utility accounts in any new company file.  You only to use the checkbox for new Utility accounts that you have created.

Created-- The account creation date is entered automatically.
Record Number-- A record number is automatically assigned to the account.
Last Changed-- Goldenseal shows the date this account was last changed.
Reporting Type-- Enter the type of account. The reporting type for standard accounts cannot be changed.
Current Balance-- Goldenseal calculated the current balance for the account. This number cannot be changed.
Active Item Count-- The number of transactions that currently apply to this account.
Permanent Item Count-- The number of transactions that apply to this account.

Reporting Types

Utility accounts can be of any of the following types:

ASSETS

Accounts Receivable-- Totals for billed sales, billed projects, rents that are due, and similar items.
Prepaid Expenses-- Expenses that you have marked as prepaid.
Undeposited Funds-- Money received but not yet deposited.
Misc. Assets-- Other items considered as an asset on the balance sheet.

REVENUES

Revenue Accrued-- Totals for income accrued (when work is done).
Revenue Cash-- Totals for cash income (when payment is received).
Revenue Other-- Other income.

LIABILITIES

Accounts Payable-- Totals that you currently owe to suppliers and subcontractors.
Unpaid Benefits-- Benefits not yet paid.
Unpaid Taxes-- Payroll tax and Sales tax not yet paid.
Unpaid Other-- Miscellaneous unpaid items.
Misc. Liability-- Other items considered as a liability on the balance sheet.

EXPENSES

Expenses Accrued-- Totals for expenses accrued (when work is done).
Expenses Cash-- Totals for cash expenses (when the item is paid).
Expenses Other-- Other expenses.

OTHER

Current Equity-- Current business value.
Starting Equity-- Business value when you started using Goldenseal.
Inventory-- Value of items held for resale or use in projects.
Utility-- Miscellaneous items that are not listed on the balance sheet.

Editing Utility Accounts

Goldenseal uses each utility account to store totals for a specific accounting function. The utility account also keeps a list of transactions that it uses to generate reports.

You can change the name of any utility account, and you can enter any comments you have about it.

You cannot change the reporting type or current balance for any of the standard utility accounts that Goldenseal starts out with. You also can't change the basic function-- Goldenseal will continue to use the Unbilled Sales account to track billable sales, even if you rename it to something else.

Viewing Transactions in a Utility Account

In some Utility accounts you can see all transactions that currently are included in the account.

For example, to see all unbilled sales, follow these steps.

  1. Choose Utility Accounts from the Bank menu.
  2. Go to the Unbilled Sales account (it's the first one).
  3. Choose Detail Transactions from the View menu.
  4. You'll see all unbilled sales transactions.

Creating new Expense Accounts

Goldenseal starts out with five expense accounts for equipment, labor, materials, subcontractors and other costs.

Goldenseal automatically posts Equipment Hours to the equipment expense account, Material Purchases to the material expense account, and so on.

If you want to track expenses with "classic" bookkeeping accounts, create addition expense accounts.  To do so, follow these steps:

  1. Choose Utility Accounts from the Bank menu.
  2. Click the New button, or choose New Record from the Edit menu.
  3. Give the new account an name.
  4. Enter Expenses- Accrued into the Reporting Type field.
  5. Repeat steps 2 to 4 for each new account.
To use the new expense accounts, you'll first need to set up the layouts so you can show the utility account on data entry screens.
For example, to add an Expense Account field to the Material Purchases layout, follow these steps:
  1. Choose Custom Layouts from the Options menu, then choose Transactions from the submenu.
  2. You'll see a window for changing layouts. Choose Material Purchases from the Transaction popup menu.
  3. Select the Field tool from the palette at the left side of the window (underneath the rounded rectangle).
  4. Click in the layout at the place where you'd like the field to be, and drag to the opposite corner.
  5. You'll see a list of available fields. Choose Expense Account from the list, and click OK.
When you enter a new Material Purchase, enter the expense account to which you'd like to assign it.

You can also include expense accounts in Equipment HoursLabor Hours, Other Costs and Subcontractor Costs.

Creating new Revenue Accounts

Goldenseal starts out with four basic revenue accounts-- for sales, project income, rentals and other income.

If you want to track expenses with "classic" bookkeeping accounts, create addition revenue accounts.  To do so, follow these steps:

  1. Choose Utility Accounts from the Bank menu.
  2. Click the New button, or choose New Record from the Edit menu.
  3. Give the new account an name.
  4. Enter Revenue- Accrued into the Reporting Type field.
  5. Repeat steps 2 to 4 for each new account.
To use the new revenue accounts, you'll first need to set up the layouts so you can show the utility account on data entry screens.
For example, to add an Revenue Account field to the Sales layout, follow these steps:
  1. Choose Custom Layouts from the Options menu, then choose Transactions from the submenu.
  2. You'll see a window for changing layouts. Choose Sales from the Transaction popup menu.
  3. Select the Field tool from the palette at the left side of the window (underneath the rounded rectangle).
  4. Click in the layout at the place where you'd like the field to be, and drag to the opposite corner.
  5. You'll see a list of available fields. Choose Revenue Account from the list, and click OK.
When you enter a new Sale, enter the revenue account to which you'd like to assign it.

You can also include revenue accounts in Billing Records and Rental Transactions.

Creating Other Utility Accounts

You can create multiple Undeposited Funds accounts, and assign them to Payment Receipts the same as you would for revenue accounts.

You can also create any type of new Utility Account, and use Cash Transfers to transfer funds between it and other accounts.

Using in Reports

To show totals for a new utility account in a report, first create a calculator that uses the new account. To do so, follow these steps:

  1. Choose Calculations from the Options menu, and choose Utility Accounts from the submenu.
  2. Click the New button.
  3. Enter the new account into the Account field.
  4. Enter the type of calculation into the Field field. For example, to get totals during a time period from a new expense or revenue account, choose Total In Date Range.
  5. Click OK.
To use the new calculation in a report, follow these steps:
  1. Choose Custom Layouts from the Options menu, and choose Reports from the submenu.
  2. Open the report where you'd like to show the account total.
  3. Click on the Calculator tool.
  4. Click at one corner of where you'd like to show the field, and drag to the opposite corner.
  5. You'll see a list of calculated fields. Enter Utility Accounts into the popup menu at top, then choose the calculator you created in the previous steps.