Create a New Balance Item
Balance items are major components of the balance sheet determining how and in what categories, subcategories and groups accounts are organized in financial statements.
The exact set of balance sheet items depends on the selected type of balance type.
So, when you create a new balance item, you create it specifically for a particular balance type and not as an independent entity. Thus, to create a balance item, you have to first access a balance type to which it has to belong.
To do that, follow the procedure below:
1. On the Codejig ERP Main menu, navigate to the Settings module, and then select Balance type.
A listing page of the Balance type opens.
2. On the listing page, click a table entry representing a balance type for which you want to create a balance item/ balance items.
You are taken to a page containing balance type details.
3. In the Balance items section, click the + Add new button above a table containing balance items that belong to this balance type.
You are taken to a page for defining the new balance item.
4. Provide the following data about the balance item:
- Balance item code
- Balance item name
- Type of balance view
- Balance type
- Specify what accounts will be displayed under this balance item in the financial statements that will be prepared according to the balance type to which this balance item belongs.
5. Click Save.
Upon creating a new balance item, you have to access the specific balance type once again to see the newly created item appear in the Balance items section.
Balance Item: General Area
Balance Item: Accounts Section
Balance Item: Account Movements Section