Free Accounting Software Manual - Accounts, Identifiers, Jobs, Measurables, Taxes

Back to manual home
Getting Started
Import Chart of Accounts
Accounts, plus more
Purchases
Sales
Reports

Free Accounting Software tracks accounting information by:

Accounts - Just like any accounting system.
Identifiers - Customers, suppliers, employees. Any external entity.
Jobs - A classification that helps you track all expenditure on a project. A transaction can be assigned to zero one or multiple jobs.
Measurables - Inventory, other quantities and time that you want to track.
Taxes - Used for things like value added taxes (VAT, GST). Allows you to specify the amount of tax on a transaction.

Accounts

Although you may specify an account id you don't have to. An account id will be automatically assigned. You don't need to remember to account id becuase in Free Accounting Software accounts are entered by selecting them from a list using a search filter. Usually entering just 3 or 4 characters from the name will select it for you. e.g to select the account "Cash at bank" you could just type "cash" or "bank".

The account description is required. The other fields are not used for any processing and you may safely leave them blank or as the defaults.

Identifiers

Identifiers are customers, suppliers, emplolyees or any other external entity. The description and address will appear on invoices to or remittance advices that are generated for the identifier.

Jobs

Transactions can have zero one or more jobs. In the future this will enable you to filter reports and extract summaried reporting information. At the moment the job is recorded on the transaction and data exports job based reporting is not yet available. Job information does not print on documents generated for external purposes.

Measurables

Enter a description of the Measurable. The other fields are not currently used in any processing. When using the measurable on an sales invoice or purchase order the detail of the measurable is printed.

Taxes

You must enter the Tax Authority, Tax Table Code and Tax Code. Although these are key fields they are not automatically generated. The Tax Table Code is used for summarising taxation information that is printed on external documents.

When a tax code is created a linked account is also automatically generated. This account is where the tax amount is posted to. The net amount goes to the account specified on the transaction.