In this article, you will learn how to configure your accounting preferences.
To access the accounting preferences, navigate to:
Admin -> Accounting -> Accounting Preferences
The preferences are divided into the following sections:
The dropdown box which allows you to choose whether transaction dates will be recorded on an accrual or cash basis.
|Currency||Allows you to set the base currency and enable multi-currency functionality. Click on the following link for more information about multi-currency:Multi-Currency Article|
Allows you to specify whether transactions can be deleted and a lockout date. Imposing a lockout date will prevent users from entering transaction dates that predate the lockout date.
Financial year start date: Set this to your first financial year start date since using Actionstep. Transactions before this date are ignored.
Opening balances date: Sets the date that is applied to your chart of accounts opening balances. Transactions prior to this date are ignored.
|Allows you to specify the default settings for any newly created client receipts.|
|Allows you to specify the default settings for any newly created firm withdrawals.|
|Allows you to change how Actionstep refers to various aspects of the accounting module.|
|Allows you to set the default payment terms for both sales and purchases. You can also edit the terms themselves and create new terms within this section.|
|This field is in relation to classic billing which is no longer available and will be deprecated at some point in the future. So this field is no longer available and will be removed.|
Sales tax calculator
|Click on the box Manage tax calculator settings to set up your tax return settings.|
When you are happy with your settings, click 'Save' to save any changes.