The Finance Masters page is divided into Accounts, Country Taxes, Currencies and Account Group.
Accounts display the list of all accounts used in TrakIT. It also displays whether these accounts are currently active or not.
Adding New Accounts -
Click on any Transaction Type as Income, Expense or Disbursement. Select the action as 'Create Sub - Account'.
Select Account Type and provide the Account name and Account Code for the Account.
Enter Custom Code if any existing code is getting used against multiple accounts.
Modifying Accounts / Moving / Deleting / Adding Data Links -
Click on any Account and select the Action.
This allows you to create these taxes along with rates and codes for each country. Select the country from the drop-down and all the taxes will be displayed as below:
Click on Add Tax button and the window will be displayed as below:
Select Tax: Select a specific Tax from the drop-down list.
Rate: Enter rate applicable to tax.
Finance Code: Enter finance code. This must be unique for each tax added. If the Finance Code is not specified, it defaults to the Tax Code.
Transaction Type: Select transaction type which can be Any type, Income or Expense only
Description: Specified description for the tax.
And click on 'Save Button'.
Modify Tax: Click on specific tax and make required changes. Tax can only be modified by SysAdmin.
Click on the icon to remove the country tax from the system. Only a SysAdmin can delete the country tax entry from the system.
Click on Add Currency and and select currency from the drop down and click on Add button.
Click on the icon to remove the currency from the system.
An account group refers to the group of accounts.
Adding new group
Click on create button. The page will display as below:
Group Name: Enter the name of group.
For Company: It can be for all Companies or any specific.
Group Remarks: Enter the group remarks .
Click on create button.
Any specific group can be deleted by clicking on the below icon: