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Getting started with EasyACCT

SOLVEDby IntuitEasyACCTUpdated July 27, 2021

Welcome to EasyACCT.   This document will aid you in getting started with your EasyACCT product.   Each section contains links to articles that will assist you on a variety of subjects.

Let's get started!

Follow these steps to change the Current Data Path that EasyACCT defaults to:

  1. From the Company Selection screen, select System, System Utilities, and then System Characteristics.
  2. In the Path for Company Data field, select the down arrow to browse to the correct path.
    • For example, X:\EASYWDATA.
  3. Click OK to select the path.
  4. Click OK again to close the screen.
  5. Close the program.
  6. Re-open the program.
    • The program should open to the new default path.

The financial statement design can be copied from an existing company or sample company using the Company Wizard. Note that if you're using the Company Wizard, the companies should have the same Chart of Accounts. Alternatively, the statements can be created from scratch using the Financial Statement Templates, as described below. Afterwards, you can make customizations using the Custom Statements feature.

Follow these steps to set up the Balance Sheet, Income Statement and Statement of Cash Flows to print using the statement templates:

  1. Go to Write-Up, Update Company Files, Financial Statements and select Statement Templates.
  2. Select the Type of Financial Statements.
  3. Enter a Statement Message Line to print at the bottom of each page on the financial statements.
  4. Select a Font Name and Font Size.
  5. Each financial statement has its own tab to specify account ranges.  It is recommended not to have any gaps from one section to the next, even if that involves using non-existent accounts as the beginning and ending accounts.  For example, the Beginning Account number for Fixed Assets (i.e. 1500) should be one number higher than the Ending Account number for Current Assets (i.e. 1499).
    1. Enter the following on the Balance Sheet tab:
      • Statement Title
        • For example, "Balance Sheet."
      • Beginning and Ending Account ranges for each section:
        • Current Assets
        • Fixed Assets
        • Other Assets
        • Current Liabilities
        • Long Term Liabilities
        • Equity
    2. Enter the following on the Income Statement tab:
      • Statement Title
        • For example, "Income Statement."
      • Beginning and Ending Account ranges for each section:  
        • Revenue
        • Cost of Sales
        • Operating Expenses
        • Other Income/Expense
    3. Entering the follow on the Cash Flow tab:
      • Statement Title
        • For example, "Statement of Cash Flows."
      • Beginning and Ending Account ranges for each section:
        • Cash or Cash Equivalents
        • Depreciation Expense
        • Accumulated Depreciation
        • Amortization Expense
        • Accumulated Amortization
        • Gain or Loss on Asset Sales
        • Accounts used for Sold Assets
        • Accumulated Depreciation for Sold Assets
        • Retained Earnings Accounts
        • Distributions of Profits (Dividends)
  6. Click Save.

Follow these steps to set up a product or service:

  1. Go to Accounts Receivable > Update Company Files > Update Products/Services.
  2. Enter an identification number for the item in Product/Service Code.
    • The code can be letters, numbers, or a combination of both, up to 14 characters in length.
    • Click the Product/Service Code arrow or press Alt-V to view a list of items you've previously set up. Then, select the applicable item from the list and select OK or press Enter.
  3. Enter a Description for the item using up to 80 characters.
  4. Click the arrow next to General Ledger Code and select the Sales G/L code from the dropdown list.
    • G/L codes are set up on the Transaction Options on page 2 of the A/R Setup Wizard.
      • Up to 99 sales codes are allowed.
    • The G/L Code indicates which accounts to debit and credit when posting the transaction to the General Ledger module.
  5. Enter the price for the item in Selling Price.
    • You can override this amount when entering the invoice during transaction entry.
  6. Select the Charge Sales Tax checkbox if the item is subject to sales tax.
    • Clear this checkbox if the item is not subject to sales tax.
    • The sales tax rate is determined by the tax code assigned in the Customer Information screen.
  7. Type any additional notes that are applicable to the item in Comments.
  8. Click Save.

Follow these steps to set up a customer discount:

  1. From Accounts Receivable, select Update Company Files, and then Update Products/Services.
  2. Enter the Product/Service Code that you want to use for this item.
  3. Enter the Description.
    • For example, "Discount."
  4. Select the General Ledger Code for the item.
  5. Enter the discount amount as the selling price.

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