Balance Type: Balance Items Section

 

In this section, you add balance items to a balance type in accordance with which balance sheet and profit & loss report will be organized, if they are prepared based on this balance type.
 
Balance items are major components of the balance sheet determining how and in what categories, subcategories and groups accounts are organized.
 
When you create a new balance type, this section is empty. However, for pre-defined balance types, this section contains a unique set of balance items belonging to this balance type that determine how and in what categories, subcategories and groups accounts are organized.
 
In this section, balance items are presented as line items.
 
Line item is a line structure that contains an item and item details. Line item is comprised of a number of fields, such as quantity, price, net amount, and so on.
 
  • To create a new balance item, click the + Add new button.
 
You are taken to a page for defining a new balance item.
 
For more details, see Create a New Balance Item.
 
Upon creating a new balance item, you have to access the specific balance type once again to see the newly created item appear in this section. The following information will be provided about the item:
 

Line item fields

Used for

Code

Balance item code.

Name

Name of the balance item.

Type of balance view

  

Balance type

The balance type to which this balance item belongs.


It is always the same balance type as a given type. Balance items belonging to other balance types will not be displayed in this section for a particular type.

 
To view balance item details, click the line item representing a balance item you want to access. As a result, you are taken to a balance item details page.  
 
After creating balance items for a new type, you have to define the organizational format for this balance type by creating a hierarchical tree structure in which each balance item will form certain level.
 
To do that
 
1. Click the Folder icon above the table.
 
The balance item collapses hierarchical tree structure appears.
 
2. Expand the top level of the hierarchy.
 
All existing balance types are presented as Level 2 of the hierarchy.
 
3. Expand a balance type for which you want to further organize a tree structure.
 
4. Move available balance items to form a hierarchy the same way you move account categories, subcategories and groups to change the structure of the chart of accounts.
 
For more information how to organize a tree structure, see Reorganize Chart of Accounts Structure.
 
In case of pre-defined balance types, you can check the default hierarchical structure and modify it if necessary.