Sub Accounts
What is a Sub Account?
A Sub Account is used to project the balance sheet accounts. For example, if you would like to add a projection against "Plant & Equipment" called "Tools", you click on the green icon that appears next to the balance sheet account and enter the details shown below.
The "Balance Sheet Account" represents the other side of the transaction. In the example above, this represents "Cash at Bank" meaning that the Tools will be paid from "Cash at Bank".
Any sub-account linked to a cash account will appear in the Cashflow Forecast. You can also update the value in the Cashflow Forecast, however all sub-accounts must be added in the balance sheet.
Where does the Sub Account appear in the Balance Sheet?
When the Sub Account is added, it will appear in green against the relevant accounts including GST (if applicable) as shown below;
There would also be $100 showing against the GST account.
To simply show all sub accounts, click on the option in the top right corner "show sub-accounts only". This will make it easier to review/update the projections.
How do you specify whether GST is applicable?
The GST is specified at the account level. In the example above, GST has been ticked against "Plant & Equipment" in the Chart of Accounts and therefore all sub accounts entered against "Plant & Equipment" will be subject to GST.