Phreebooks Company setup


Company Setup

Chart of accounts

There are files at /modules/install/charts/ Edit one for your starting set of accounts. Be sure to remove any backup files.

Typical account numbering account numbering

Account types in Phreebooks

Account type Description
Assets Things we have or are owed to us
Cash Bank accounts, liquid funds
Accounts-Receivable Invoices due us
Inventory Product on hand for sale
Other-Current-Assets Prepaid expenses, Short term investments
Fixed-Assets Land, Buildings, Machinery, furniture, tools. Long-term Assets
Accumulated-Depreciation The most complicated account type - used as a negative asset to offset the value listed for fixed assets as they age. Instead of making individual corrections of value for each fixed asset, a total of depreciation is entered once a year. If a fixed asset is thrown-out, a gl transaction can be entered between the fixed-asset account and the accumulated-depreciation account for the original value of the item.
Other-Assets Intangibles: Patents,copyrights, goodwill, trademarks. Longterm Prepaid expenses, Long term receivables
Liabilities Things that we owe; Debts, Obligations
Accounts-Payable Bills we owe
Other-Current-Liabilities Other short term debts, Payroll taxes owed,
Long-Term-Liabilities Debts with a future of over one year.
Equity Equities = Assets - Liabilities

Sometimes thought of a special liability so that
Assets = Liabilities

Equity-gets-closed Might be used to distribute Dividends.
Equity-Doesn't-get-closed Opening balance - what the company starts off with. Stock
Equity-Retained-Earnings There should be only one of these accounts

This represents all earnings-losses from prior years. Normally you won't ever make entries directly to this account.

Income Money coming in
Income Sales revenue, Interest earned, Fees charged
Expenses Money going out
COGS Cost of good sold

This is generated as an invoice is saved.

Expenses Money paid for services and consumables

Sub Accounts

Sub accounts can be set up as deep as necessary. Pulling up the information into reports will need a 'special report' similar to what is there for invoices and P&L reports.

Setting your logo

You will want to change the file in:

my_files/company_name/image/phreebooks_logo.jpg

Where company_name is the name of your company, to your own logo.


Setting Defaults

Company/my_company

You will find the fields to set your companies identity - most are self explanatory, but a few need comment.

Company/Customer Defaults

Company/Vendor defaults

Company/Inventory Defaults

The next are item types -

Company/User Account Defaults

Company/Shipping Defaults

Company/E-Mail Options

Company/Sessions

Company/Credit Cards

Setting Starting numbers

By editing the current_status table You can set the starting Sales order, Invoice, Purchase order, Check, Deposit, and quote numbers


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Disclaimer

This information may have errors; It is not permissible to be read by anyone who has ever met a lawyer.
Use is confined to Engineers with more than 370 course hours of electronic engineering for theoretical studies.
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