Standard Account Codes connect your business’s chart of accounts to the accounting functions in Cyncly Retail One. Set up your account-number ranges first, then create and assign the accounts for each function.
As you create accounts, Retail One adds them to your chart of accounts. Each Standard Account Code field uses a separate account to keep its amounts easy to track, review, and reconcile.
Before You Begin
Make sure you have access to Accounting and your business’s approved account information.
Plan the account numbers, names, and types your business will use. Account names do not need to match the Standard Account Code field labels, but they should clearly describe each account’s purpose.
If your business already has a chart of accounts, use it to plan your setup.
Configure Account Code Ranges
Account Code Range sets the number ranges Retail One uses to assign account types. When you create an account, its number determines its type. Set up these ranges before you create accounts.
Enter the beginning numbers from lowest to highest, leaving room for accounts in each category. If you change one beginning number, you may need to adjust the beginning numbers that follow it.
For example, if Current Assets begins at 1000 and Fixed Assets begins at 1600, Retail One sets the ending number for Current Assets to 1599. An account numbered 1510 falls within the Current Assets range.
- Go to Accounting > Account Codes.
- Select Account Code Range.
- Select Edit.
- Enter the beginning account number for each category in its editable field.
- If your business uses separate ranges for Miscellaneous Expense and Provision for Taxes, turn on Do you want to provide range for Miscellaneous Expense and Provision for Taxes. This switch appears below Miscellaneous Income in the Profit & Loss column. Enter the beginning numbers for these categories.
- Review the shaded values. Retail One calculates these values for you.
- Correct any fields that show Invalid value, then select Save.
Choose Accounts and Account Types
Use your approved account information to choose an account for each Standard field. Give each account a name that clearly describes its purpose.
| Standard Account Code field | Example account name | Account type |
|---|---|---|
| Checking | Operating Bank Account | Current Assets |
| Accounts Receivable | Trade Accounts Receivable | Current Assets |
| Inventory | Flooring Inventory | Current Assets |
| WIP Material | Work in Process — Materials | Current Assets |
| Customer Deposits | Customer Advances | Current Liabilities |
| Accounts Payable | Trade Accounts Payable | Current Liabilities |
| Sales | Sales Revenue | Sales Income |
| Cost of Materials | Flooring Material Cost | Cost of Sales |
| Cost of Material % Billing | Material Cost — % Billing | Cost of Sales |
Related functions can use the same account type, but each Standard field needs its own account. For example, Cost of Materials and Cost of Material % Billing both use Cost of Sales accounts. Separate accounts let you track regular material costs and percentage-billing material costs on their own.
How Retail One Assigns Account Type
Retail One fills the Account Type column based on the account number and your Account Code Range settings. The account name does not determine its type.
Choose a number within the range for the account type you need. After you create the account, check its type in the Chart of Accounts list.
Plan account numbers carefully. The account Edit dialog lets you change an account’s name and active status, but it does not let you change its number or type.
Create and Assign an Account
Create an account for each Standard field that does not already have a suitable account in your chart of accounts.
- Go to Accounting > Account Codes.
- Select Standard Account Codes.
- Select the Settings icon beside the field you want to set up. The Chart of Accounts window opens.
- Select Add.
- Enter an Account Code within the range for the account type you need.
- Enter a descriptive Name of up to 31 characters.
- Make sure the account is Active.
- Select OK to create the account.
- In the Chart of Accounts list, check the new account’s number, name, type, and active status.
- Select the checkbox beside the new account.
- Select OK to assign it to the Standard field.
The account number and name appear in the Standard Account Code field. Repeat these steps for the remaining fields.
Creating an account and assigning it are separate steps. After you create the account, select it and save the assignment.
Assign an Existing Account
If your chart of accounts already has a suitable account, assign it to the Standard field. Choose an account that you have not assigned to another Standard field.
- Go to Accounting > Account Codes.
- Select Standard Account Codes.
- Select the Settings icon beside the field you want to set up.
- In the Chart of Accounts window, find the account. To filter the list, enter an account name or number in that column’s search field, then press Enter.
- Check that the account has the correct account type and is Active.
- Select the checkbox beside the account.
- Select OK to save the assignment.
The account number and name appear in the Standard Account Code field.
If a message says the account has already been mapped, another Standard field already uses it. Select a different account or create a new one for the field you are setting up.
Review Your Assignments
After you finish the list:
- Compare each assignment with your approved account information.
- Make sure each assigned account is active and has the correct account type.
- Check that each field uses a separate account with the correct purpose.
- Reload the page and make sure the assignments still appear.
As part of Review Accounting Setup, check that transactions post to the correct accounts and that account balances agree with the supporting records before your business starts using Accounting.