How do you set up equipment account categories in Traction?

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.

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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.