I am trying to regroup some of my accounts, but it appears I cannot create a new top level group on the balance sheet. I add a group and do not select any parent, then the group is created as Uncategorized (I am actually attempting to create such a category). For the profit and loss statements this does work:
For the Balance Sheet side, the New Group must fit under one of the headings of either Asset, Liabilities or Equity.
Ah too bad… The Dutch income declaration program separates some properties from Asset, Liabilities or Equity (and then calculates them in later). I was trying to replicate their interface.
Thanks for the fast reply though!
@Neograph734, the reason for @Brucanna’s answer is that in accounting, all balance sheet accounts must be in one of those three categories. This is not a quirk of Manager. There simply are no other primary categories. The fundamental accounting equation is Assets = Liabilities + Equity.
@Tut, makes sense. I think I can manage it by sub-grouping the different properties within the provided categories.
Thanks!
Your approach is the correct one, @Neograph734. The distinction is important because Manager determines whether entries affecting balance sheet accounts are debits or credits according to what category they are in. (Recall that in double-entry accounting, even a single entry such as a payment affects at least two accounts.)
This situation also reinforces the way financial accounting and tax accounting seldom are identical.