You are here

Preparing Universal Accounting Templates

Universal accounting templates are accounting files with basic functionalities that can be used all over the world.

Concept

We offer a simple but complete solution that provides:

  • Full Accounting
    • Balance sheet
    • Income & Expense
  • Business intelligence
    • Cost and profit centers when suitable (specific projects management, members and/or donor list for non profit organizations)
    • Customers and suppliers management
  • Financial planning
    • Including the Budget table
    • Setup of predefined compositions for budgeting and for actual vs. budget comparison
       

Translations

  • Accounting plan is translated to different languages
  • Accounting plan is not localized. It does not consider country specific requirements
    For specific country-related solutions go to the country's page or visit Creating localized accounting solutions.

File names conventions

  • Name files in English
  • Use lower case only
  • Never use spaces.; for word separation use underscore "_"
  • When assigning the file name use the following abbreviations:
    • "basic" for accounting files that provide very basic structure
      Example "family_basic_double.ac2"
    • "cash" for cash book accounting files
      Example "family_basic_cash.ac2"
    • "income" for income and expense accounting files
      Example "family_basic_income.ac2"
    • "double" for double entry accounting files
      Example "family_basic_double.ac2"
    • "multi" for double entry with multi-currency files
      Example "family_basic_multi.ac2"
    • "vat" when the file has a VAT table
      "sme_basic_double_vat.ac2", "sme_basic_multi_vat.ac2"
  • Never translate the file name. Always use the English file name in other languages as well.
    Using English to name files makes it easier to translate and keep files in sync.

Currency

  • For languages that are common in Europe use the EUR currency
    • For English use USD
    • For Chinese use CHY
    • For Portuguese use BRL

Basic Accounting plan

Basic accounting files have a simple accounting plan that follows this numering convention for accounts and gruping.

Length of the accounts and groups numbers

  • Accounts and groups use only numbers
  • Accounts have 4 numbers
  • Groups have 2 numbers for the major level
    • When summing groups together is it possibble to use a combination
      Group "10-11" groups together the groups 10 and 11
  • Groups have 3 numbers for the minor level

Description and formatting

  • Accounts description is lower case
  • Sections headers are upper case and bold
  • Groups headers are lower case and bold
  • Groups descriptions are lower case and bold

Double entry accounting with separated sections for P&L

Example files:

  • restaurant_basic_double.ac2
  • restaurant_basic_income.ac2

Structure and numbering for double entry accounting with separeted section for P&L:

  • In order to be easy to enter groups and accounts
    • Leave empty accounts numbers when in the same group
      Like there where a group in between
    • Number groups 30, 31, 32 ...
  • For the Assets and Liabilities follow the SME swiss grouping
  • In the P&L enter the Revenues first and then the Costs below them
  • For Revenues and Costs use numbering similar to the BClass
Section Group Account Description Gr
*     BALANCE  
1     ASSETS 1
    1000 Cash 1
    1001 Bank 1
    1090 Internal transit 1
  1   Total Assets 00
2     LIABILITIES AND PRIVATE EQUITY 2
    2000 ... 2
    2800 Owner capital 2
  297   Current year profit 2
  2   Liabilities and Private equity 00
*     PROFIT & LOSS  
4     REVENUES  
    4000 Revenue .. 4
  4   Total revenue 02
3     COSTS  
    3000 Cost .. 3
  3   Total costs 02
  02   Results 297
  00   Difference must be null  

Double entry accounting with scalar P&L

When it makes sense, it is possible to use a scalar P&L.

Income and Expenses accounting

Follows the same numbering of double entry

  • Sections
  • Does not have result for current year
  • Does not have Owner capital, is the total of Assets less liabilities

In the Categories enter the Income first and then the Expenses below them.

Cost Centers

For the names of Cost Centers use numbers starting from 7000 (for example 7000, 7001, 8000, etc ... )

Compositions

These standard compositions have to be present:

  • Balance Sheet / Profit&Loss yearly
  • Balance/P&L 4 months compared to Budget 4 months
  • Budget 4 years
  • Budget yearly
  • Quarterly Budget

Share this article: Twitter | Facebook | Email