Account Details: General Area

Field/option

Used for

Code

Enter a 4-digit number code for the account for sorting and searching purposes.  

• Mind that the code of the account has to start with the 2 digits labeling an account subcategory to which it will be added. For example, if you have a subcategory 10 Intangible Assets, codes of accounts or account groups under this category have to begin with 10.
• If you add it as a subaccount, its code has to start with the first 3 digits labeling an account group where it will be located.  

Name

Enter an account name.

• It is a required field. If you do not provide a name for the account, you will not be able to save the account.

Type of account

Select a type of account to specify what transaction types can be recorded in it /what transaction operations can be performed with it.

It is necessary to select a type of account to ensure that transactions are correctly posted and recorded in appropriate accounts.

• It is a mandatory field. You will not be able to save the account unless you identify an account type for it.
• Types of accounts are predefined in Codejig ERP and you cannot add new ones.  
• Types of account do not necessarily correspond to account categories.

For information about predefined types of account, see Account Types.

Multicurrency option

Turn on this option to record all posting entries to this account in multiple currencies.

Those are the default system currency and a currency of a document that makes a posting entry to this account.  

The amount in foreign currency is recorded together with the equivalent in the system currency calculated at exchange date current on a transaction date.   

Keep this option turned off, to record all posting entries in the default system currency.

The option is available only for the following types of account:

• Vendors
• Customers
• Bank account
• Other assets and receivables
• Provisions
• Employee
• Equity
• Other liabilities and payables
• VAT
• Other taxes

Monetary option

This option becomes available only after turning on the Multicurrency option.

Turn it on to activate the revaluation process for this account.

Keep this option turned off if you do not wish to run the revaluation process for this account.

Account for losses caused by exchange rate fluctuations

The field becomes available only if the Monetary option is turned on.

Select an account in which unrealized losses that result from the revaluation will be recorded. Otherwise, unrealized losses will be recorded in the default Account for losses caused by exchange rate fluctuations specified in My company settings.

Account for gains caused by exchange rate fluctuations

The field becomes available only if the Monetary option is turned on.

Select an account in which unrealized gains that result from the revaluation will be recorded.  Otherwise, unrealized gains will be recorded in the default Account for gains caused by exchange rate fluctuations specified in My company settings.