Special accounts

BizController automatically calculates and transfers the net profit for each period as well as net cash flow to respective balance sheet accounts using a set of special accounts. Since BizController offers the user the possibility to define own, custom templates for financial statements (the balance sheet in particular) as well as to define a custom accounts list, it needs to know which accounts should show the profit for the year (a reserve) as well as cash (an asset) in the balance sheet.

Besides defining the special accounts in this module, it is also necessary to link the accounts to financial statements by supplying FSI numbers both on the Accounts tab in the Master Data module  and in the respective templates in the Template Editor.

On the profit side / cash flow side, the corresponding special accounts could be additional, unused technical account numbers that may or may not be utilised in reports. On the asset / liability side, you can link these accounts to your balance sheet reports, showing as your cash item or profit item lines.

Additionally BizController can automatically transfer the current year’s profit to another reserve account (previous years ‘profit) when a new financial year starts.

BizController transfers the net profit and net cash flow to the respective balance sheet accounts only for prospective information.  When entering or importing balance figures into the Historical Information Module, the user needs to supply all balances including “current year profit” and “net cash flow” accounts.

 

To define special accounts, click Financial Year Close (FY Close) and make sure Module on is showing on the screen.

Enter two pairs of account numbers for automatic postings to transfer the net profit and the net cash flow respectively. The account numbers should correspond with appropriate accounts on the accounts list defined by the user (you can add them manually in Master Data module if necessary).

If the entered value does exist on the accounts list, a green ‘V’ will be shown next to it, otherwise a red “x” will be displayed. To define accounts used by the system, go to Master Data > Accounts.

To reset accounts to their default values, click Defaults.