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Add ledger account descriptions #30

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2 changes: 1 addition & 1 deletion docs/.vitepress/sidebar.ts
Original file line number Diff line number Diff line change
Expand Up @@ -7,6 +7,7 @@ export default function sidebar() {
{ text: 'Introduction', link: '/basics/introduction' },
{ text: 'Accounting Basics', link: '/basics/accounting-basics' },
{ text: 'Interface', link: '/basics/interface' },
{ text: 'Chart of Accounts', link: '/miscellaneous/chart-of-accounts' },
],
},
{
Expand Down Expand Up @@ -90,7 +91,6 @@ export default function sidebar() {
{ text: 'Number Series', link: '/miscellaneous/number-series' },
{ text: 'Import Wizard', link: '/miscellaneous/import-wizard' },
{ text: 'Print Templates', link: '/miscellaneous/print-templates' },
{ text: 'Chart of Accounts', link: '/miscellaneous/chart-of-accounts' },
{ text: 'Customize Form', link: '/miscellaneous/customize-form' },
{ text: 'Settings', link: '/miscellaneous/settings' },
],
Expand Down
40 changes: 39 additions & 1 deletion docs/miscellaneous/chart-of-accounts.md
Original file line number Diff line number Diff line change
Expand Up @@ -54,4 +54,42 @@ To create a new account
![Create a New Account](./images/create-new-account.png)

This will display a new row where you can enter the account name. After you are
done press Save to create the account.
done press Save to create the account.

## Default Chart of Accounts

Here are the basic descriptions for each account in the default chart of accounts:

### Assets

1. **Bank Accounts**: Accounts for tracking the balances of your bank accounts.
2. **Cash**: Accounts for tracking cash on hand.
3. **Accounts Receivable**: Accounts for tracking money owed to you by customers.
4. **Inventory**: Accounts for tracking the value of your inventory.
5. **Fixed Assets**: Accounts for tracking long-term assets such as property, plant, and equipment.

### Liabilities

1. **Accounts Payable**: Accounts for tracking money you owe to suppliers.
2. **Credit Card**: Accounts for tracking credit card balances.
3. **Loans Payable**: Accounts for tracking loans you need to repay.
4. **Accrued Liabilities**: Accounts for tracking expenses that have been incurred but not yet paid.

### Equity

1. **Owner's Equity**: Accounts for tracking the owner's investment in the business.
2. **Retained Earnings**: Accounts for tracking the accumulated profits or losses of the business.

### Income

1. **Sales**: Accounts for tracking revenue from sales of goods or services.
2. **Service Income**: Accounts for tracking revenue from services provided.
3. **Interest Income**: Accounts for tracking interest earned on investments.

### Expenses

1. **Cost of Goods Sold**: Accounts for tracking the direct costs of producing goods sold.
2. **Rent Expense**: Accounts for tracking rent payments.
3. **Utilities Expense**: Accounts for tracking utility payments.
4. **Salaries Expense**: Accounts for tracking employee salaries.
5. **Advertising Expense**: Accounts for tracking advertising costs.