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Accounting Dashboard
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General Accounting Set up
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Analytic Accounts
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Chart of Accounts
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Day to Day Transactions
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Sales
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Banks & Bank Reconciliations
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Fixed Assets
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Year/Month End
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Reports
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Purchase Order approval
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POS
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POS Reconciliations
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Purchasing
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Non stock purchasing
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Expense Module
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Shopify Sales
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Invoice Reminders
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Customer Statements
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Tax
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Supplier Batch Payment
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Product Categories
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Inventory Valuation Journals
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Analytic Accounts
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Rebates
Product category account mapping explanation
1. In the account configuration settings, you will find a
section called
"Product Categories." Click on it to proceed.
2. Here, you will see a list of product categories that are already created. If you need to create a new category, you can click on the "New" button.
3. For each product category, you will find several fields related to the account mapping. The important fields to consider are:
1. Income Account: This account is used to record sales and revenue generated from products belonging to this category. Select the appropriate income account from the drop-down menu or create a new one if needed.
2. Expense Account: This account is used to record expenses associated with products in this category, such as cost of goods sold. Choose the appropriate expense account from the drop-down menu or create a new one if necessary.
3. Stock Input Account: This account is used for recording the value of incoming stock or inventory for products in this category. Select the appropriate stock input account from the drop-down menu or create a new one if required.
4. Stock Output Account: This account is used for recording the value of outgoing stock or inventory for products in this category. Choose the appropriate stock output account from the drop-down menu or create a new one if needed.
5. Stock Valuation Account: This account is used to track the value of inventory or stock for products in this category. Select the appropriate stock valuation account from the drop-down menu or create a new one if necessary.
2. Here, you will see a list of product categories that are already created. If you need to create a new category, you can click on the "New" button.
3. For each product category, you will find several fields related to the account mapping. The important fields to consider are:
1. Income Account: This account is used to record sales and revenue generated from products belonging to this category. Select the appropriate income account from the drop-down menu or create a new one if needed.
2. Expense Account: This account is used to record expenses associated with products in this category, such as cost of goods sold. Choose the appropriate expense account from the drop-down menu or create a new one if necessary.
3. Stock Input Account: This account is used for recording the value of incoming stock or inventory for products in this category. Select the appropriate stock input account from the drop-down menu or create a new one if required.
4. Stock Output Account: This account is used for recording the value of outgoing stock or inventory for products in this category. Choose the appropriate stock output account from the drop-down menu or create a new one if needed.
5. Stock Valuation Account: This account is used to track the value of inventory or stock for products in this category. Select the appropriate stock valuation account from the drop-down menu or create a new one if necessary.
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