{"id":2032,"date":"2023-08-30T23:15:07","date_gmt":"2023-08-30T23:15:07","guid":{"rendered":"https:\/\/nsaq.io\/docs\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84%d8%ad%d8%b3%d8%a7%d8%a8%d8%a7%d8%aa-2\/"},"modified":"2023-09-30T08:46:28","modified_gmt":"2023-09-30T08:46:28","slug":"account-groups","status":"publish","type":"post","link":"https:\/\/nsaq.io\/en\/docs\/account-groups\/","title":{"rendered":"Account Groups"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n
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“In this page, you will find everything related to the Accounts Groups page, including how to access it, its concept, features, and also how to add, edit, and delete account groups.<\/span><\/p>\n

To access the ‘Account Groups’ page, please follow the following instructions:<\/strong><\/span><\/h3>\n
    \n
  • Start by clicking on the ‘Financial’ menu in the main menu.<\/span><\/li>\n
  • Then, click on ‘Financial Structure’ available in the top toolbar of the page.<\/span><\/li>\n
  • Next, click on the ‘Account Groups’ link.<\/span><\/li>\n<\/ul>\n

     <\/p>\n

    Concept of ‘Account Groups’:<\/strong><\/span><\/h3>\n

    Account Groups are a concept in accounting that refers to the grouping of a set of related accounts under a common category. Account Groups are used to organize and simplify the chart of accounts in an accounting system by providing a general summary of common financial transactions related to a specific group of accounts.<\/span><\/p>\n

     <\/p>\n

    Features of the ‘Account Groups’ page:<\/strong><\/span><\/h3>\n
      \n
    • Organization and Simplification:<\/strong> Using Account Groups helps simplify the chart of accounts and make it more organized. Instead of displaying many sub-accounts individually, they can be grouped under categories that share a common type of financial transactions. For example, if you manage a company, you can have account groups like ‘Fixed Assets,’ ‘General Expenses,’ ‘Sales,’ and so on. These groups gather related accounts and facilitate financial reporting and analysis.<\/span><\/li>\n
    • Data Modification and Hierarchy:<\/strong> One of the key advantages of the Account Groups page is the ability to modify the data of previously added groups. You can easily update the hierarchy of main groups or main categories through the button available at the end of each group.<\/span><\/li>\n
    • Deleting Groups:<\/strong> You can delete any previously added group. However, make sure that the group is not associated with general ledger accounts. You can do this by clicking the button at the end of each group.<\/span><\/li>\n
    • Making Groups Inactive:<\/strong> A feature of this page is the ability to make groups inactive, making them invisible in the system. You can activate this feature by clicking the ‘Show Hidden’ button available at the bottom of the table. After that, you can select the groups you want to hide and make them inactive.<\/span><\/li>\n<\/ul>\n

       <\/p>\n

      Explanation of How to Add a New ‘Account Group’:<\/strong><\/span><\/h3>\n
        \n
      • Add a Unique Identifier:<\/strong> First, add a unique identifier for the new group. This identifier represents the group’s identity and must be carefully chosen to avoid conflicts between numbers.<\/span><\/li>\n
      • Group Name:<\/strong> In the next step, add a clear descriptive name for the group. The name should accurately reflect the nature of the group for easy identification.<\/span><\/li>\n
      • Subgroup Of:<\/strong> If you want to divide groups into subgroups and main groups, you can choose another group to be a subgroup of. This option helps in organizing the hierarchical structure of accounts. For example, a main category ‘Expenses’ can have a subgroup ‘Administrative Expenses,’ and within that, a sub-subgroup ‘Salary Expenses.’<\/span><\/li>\n
      • Main Category:<\/strong> In this step, link the new group to a main category it belongs to. For instance, if you are adding a group for ‘Fixed Assets,’ it should be linked to a main category for assets.<\/span><\/li>\n
      • Add New Record:<\/strong> Finally, once you have completed the required details for the new group, click the ‘Add New Record’ button to confirm the addition.<\/span><\/li>\n<\/ul>\n

        Using these steps, you can easily and systematically add a new account group. By selecting a unique identifier, adding a clear descriptive name, and linking the group to a sub-group or main group, you can efficiently organize and manage your accounts.”<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

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