Inner Accounts

This tab is used for creating and managing inner accounts of the organization for bookkeeping needs and requirements as well as for managing the balance reports and the accounts of Hyper. The inner accounts are used for following the revenues and the expenses of the organization and the transactions inside the organization (e.g. cashier) and with external institutions (e.g. banks, VAT etc.), which are not defined as Clients / Suppliers cards.

Inner Accounts

Introduction

This tab gathers and displays the inner accounts of the organization. This tab has two sections:

  1. The Inner Accounts table - This table displays all of the inner accounts. The inner accounts details can be modified (according to the users authorizations) and the accounts manager can open each account journal in order to follow and manage its transactions.
  2. Accounts Tree for Reports - The tree displays the inner accounts distribution in the following categories:
    • Profit & Loss Statements
    • Assets
    • Liabilities & Equity
    In each of the above, the user can create additional sub-categories to classify the inner accounts.

Inner Accounts Table

This table displays the inner accounts of the organization as well as general information about each of the accounts: Account Purpose, Notes, Entries Amount and Balance. The values of the the Entries Amount and the Balance will be displayed and refreshed after pressing the Trial Balance button, at the top of this table.

The following action buttons are available for this table:

Create New (F8) Create new inner accounts, as described below.
Edit Account Header (F6) Open the Edit Account Header window to modify its details and status.
Account Journal (F10) Open the selected account journal. For further information click here.
Trial Balance This button displays the values of the "Entries Amount" and "Balance" fields. This button also refreshes these values after creating additional bookkeeping entries or transactions.
Delete Delete the selected inner account. Only empty accounts can be deleted. The system will not allow to delete used accounts and will alert the user. Use the Trial Balance button to see whether this account is in use.
The information fields at the bottom of the table describe any selected account. Additional information fields can be added according to the users requirements.

Create New Inner Account

Hyper allows to create and manage the inner accounts of the organization. The Create New (F8) is used for creating the inner accounts of the organization, for any type of transaction.

new inner account

In order to create the new account, follow the next steps:

  1. Press the Create New (F8) button.
  2. In the "Create New" window, fill in the following fields, as required:
    Field Title Description
    Account Name This is a mandatory field. Use clear and rational names that describe the account and its purpose.
    Account Purpose Select the purpose of the account from the following list:
    • General - An account that can not be related to any of the other purposes.
    • Revenue - Any revenue account that should be related to Profit & Loss statement.
    • Expense - Any expense account that should be related to Profit & Loss statement.

      Please Note - the above accounts use the bookkeeping currency only.

    • Continuous Bank Account - The accounts that manage the continuous entries of the organization.
    • Cash Income - The inner accounts that receive the cash incomes.
    • Cheque Income - The inner accounts that receive the cheques incomes.
    • Electronic Income - The inner accounts that receive any electronic income (e.g. credit cards, Bank transfer etc.).
    • Cash Payments - Inner accounts for cash payments.
    • Cheque Payments - Inner accounts for cheque payments.
    • Electronic Payments - Inner accounts for electronic payments (e.g. credit cards, Bank transfer etc.).
    • Setting of GST / VAT - According to the local law and regulations, the bookkeeping manager should define the required GST / VAT accounts. When creating a bookkeeping entry, the user can use the GST / VAT Tool button, to split the transferred amount between two accounts: the Client/Supplier account and the GST/VAT account. This actions is used for relating the VAT/GST of the entry to the required VAT account.
    • Institution - This account is used for the Tax payments of the organization (credit and debit).
    • Hired Worker - This account is used for managing the payments for the employees (e.g. salaries, food cost, transportation etc.). If the organization pays a dividend, the employee's ID number should be filled in the required field, as was filled in the client card.
    • General (Daily Currency Value) - This account can be managed with any currency. This account is used for currencies exchange and usually in use in companies that make currencies exchange for their clients. In the Bookkeeping tab of the System Fundamentals, These companies should be defined as "Bookkeeping in Multi-Currency Mode". Also, this account should be defined as the "Currency Swaps Default Account".
    Notes A short description of the account's purpose.
    GST/VAT Account Name Id there is any default GST/VAT account for this account, select it from the list of GST/VAT accounts in this field. This field is available for Revenue and Expense accounts only.
    % GST/VAT to derive The % GST/VAT to derive for this account. This field is available for Revenue and Expense accounts only.
    Link to ID Number If the account is related to a Company / Employee, the ID Number should be filled in this field.
    BK Reports Group Hyper allows to sort and organize the clients in groups, according to the user's needs. Select the required group from the list.
    Export Account to 3rd party When using additional bookkeeping system, fill in the account number in that system to allow future follow up.
  3. Press the OK (F6) button. The new inner account will be added to the list of inner accounts. This account can be managed and followed at any time, by using the Account Journal (F10) button. the

Accounts Tree for Reports

This tree is used for building the the bookkeeping reports, according to the inner accounts category. As default, the tree contains the following reports categories:

  • Profit & Loss Statement - The report of these accounts is used for the Profit & Loss Statement.
  • Assets - The report of this category is used for the organization balance calculation.
  • Liabilities & Equity - The report of this category is used for the organization balance calculation.

Right click on the accounts tree to open the following action buttons menu:

Add Title Add new node (folder) under the selected node. The bookkeeping manager can add additional accounts and nodes into it.
Search Search for required node or account. The search results will be marked and will be displayed one by one, by using the F3 button.
Save Settings Use this button to save the modifications. Please Note - the modifications will not be saved automatically.
Delete Delete the Account or Node (and its accounts). The reports can not be deleted.
Sort by Value / Key Sort the account in the folder, by the accounts name.
Move Node Up/Down Manually change the order of the Nodes.
Add Accounts Balance The following actions are available for the Assets and Liabilities & Equity:
  • Add Client Accounts Balance - A new "Clients" balance account will be added under the selected title.
  • Add Supplier Accounts Balance - A new "Suppliers" balance account will be added under the selected title.
  • Add Hired Worker Accounts Balance - A new "Hired Workers" balance account will be added under the selected title.
Add Profit & Loss Balance Here This action is available for the Assets and for the Liabilities & Equity of the organization. A new "Profit & Loss Statement" account will be added under the selected title.

Reports Definition

In order to relate the inner accounts to the reports, follow the next steps:

  1. Choose and click the required report.
  2. Click the required node, or create a new one (as described above).
  3. Use the check boxes to select the required accounts to be related, from the inner accounts list. After choosing the required node, the check boxes of the accounts will be marked as follows:
    • - this account is not related to any report and and can be selected.
    • - This account was related to the selected node.
    • - This account is related to other report and can not be selected.
  4. The required account will be added under the selected node and will be marked with .
  5. The modifications must be manually saved, by pressing the Save settings button (from the right click menu).

System Administrator

Inner Accounts definitions

In order to automatically create bookkeeping entries, some of the inner accounts should be defined in the Bookkeeping tab of the System Fundamentals.

Authorizations

The system administrator should verify the authorizations to view and edit the inner accounts and the "Accounts Tree for Reports".