This article explains how to add equipment account categories in Traction.
WARNING: Do not setup individual pieces of equipment, anywhere, in your Chart of Accounts. Equipment cost analysis is coming in a future release of Advanced Accounting.
|1. Click on the Dashboard icon at the top right of your screen. Select Accounting and then choose Chart of Accounts.|
|2. Scroll down until you find the Property & Equipment folder and click on the arrow to the right of Details. Select Add Account.||
|3. Fill in the boxes with the equipment's details and create a subheading under Equipment Cost, for example: Equipment. Click on the green box with the + Add Equipment to add the subheading. This will take you to the Add Subheading screen where you will confirm the Name and then click on Save & Close.||
|4. When you return to the Edit Account screen fill in the account information and add the subheading for the Equipment Accumulated Depreciation section. Click on the green box with + Add Acc. Depreciation on Equipment to add this subheading. This will take you to the Add Subheading screen where you will confirm the Name and then click on Save & Close. When you return to the Edit Account screen enter the Opening Balances and click Save & Close.||
|5. The subheadings and accounts were added to the Chart of Accounts under the Property & Equipment heading.|
|6. This process can be repeated to add other types of equipment. I will show an example of Farm Trucking. On the Add Account screen, select the subheadings we created for equipment and click on Save & Close when complete. The new accounts will appear under the Property & Equipment heading.||