When a database is created, 12 default major headings and 12 reporting codes are automatically created by the system which cannot be deleted. You can only change the description, the code and type are not editable fields.
One of these reporting codes is automatically assigned to each nominal account record that is created when a new database is created and this will be the reporting code that matches the major heading assigned to that account.
You can change the Major Heading or Reporting Code name, but you cannot change the type or the code. You can access the default Major Headings from:
Click Financials then Settings and then click Major Headings.
To set the table into edit mode, click the Edit button at the top of the screen.
Make your changes and click Save.
The default Major Headings and Reporting Codes created are as follows:
ode | Major Heading and Reporting Code Name | Type |
1 | Sales | Profit and Loss |
2 | Cost of Sales | Profit and Loss |
3 | Other Income | Profit and Loss |
4 | Overheads | Profit and Loss |
5 | Finance Charges | Profit and Loss |
6 | Tax | Profit and Loss |
7 | Fixed Assets | Balance Sheet |
8 | Intangible Assets | Balance Sheet |
9 | Current Assets | Balance Sheet |
10 | Current Liabilities | Balance Sheet |
11 | Long Term Liabilities | Balance Sheet |
12 | Capital Employed | Balance Sheet |