Chart of accounts


The Chart of Accounts determines your structure in budget123. It comes directly from your accounting system and is continuously synchronized with any changes you may make in your accounting system.

Chart of accounts

In the overview you will find, among other things, the settings that allow a group of accounts to be shown as a Specification, and the settings that determine whether a SumAccount is represented in your Profit & Loss Report and in your Cash budget.

The VAT setting for the individual account is also taken automatically from your accounting system. You can manually change if the account should be subject to VAT or not. You can also work with differentiated VAT by selecting standard VAT, reduced-rate VAT or zero-rate VAT in the column named VAT Code.

Profit & Loss account properties

At the far right in Cash properties you can specify the Profit & Loss accounts that should be subject to Value adjustments (and thus have no influence on the cash budget.

Value adjustment

How to remove the effects of liquidity

If you would like to purchase inventory in assets, you should enter the value in the Opening Balance Sheet for the month when you wish to adjust your inventory. You then select the Profit & Loss account that should affect the inventory account. With any subsequent entries in the goods sold account in Profit & Loss, the values will not affect your cash budget, but will be drawn on the asset account thereby depreciating the inventory.

Properties for Assets & Liabilities accounts

In terms of the properties of liquidity in the Assets & Liabilities accounts, you have to select where in the cash budget the account value should be placed. In order for you to use the account in the Module for investments/loans, it is necessary to select either Investment or Debt.

In cash budget

Please note!

In an Assets account you can select Investment and in a Liabilities account you can select Debt.

Global settings for the Chart of Accounts

The settings for the Chart of Accounts are global which means that any changes you make here will be applied to all your models in budget123. The only exception is the setting for the credit period, which can be set individually.

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