Assigning account types

Alerts and notices

In AdvanceFlow, accounts can be one of five types: A = Asset, L = Liability, Q = Equity, R = Revenue, E = Expense. AdvanceFlow uses the R and E account types to calculate the net income (loss) for a trial balance and to calculate the Net Income variable in workpapers. AdvanceFlow assigns the account type based on the Account Classification grouping code that you assign to that account using any of the methods below.

You can import the Account Classification account grouping if it is not already included in your engagement.

Import trial balance data

You can assign Account Classification grouping codes when you map column information during the spreadsheet import process.

View the Trial Balance workspace

  1. Click the Trial Balance tab.
  2. At the bottom of the Trial Balance workspace, click the tab for a view that includes the Account Classification column. If none of the trial balance views include this column, customize a trial balance view as needed to add it.
  3. In the Account Classification column, double-click the cell for the account to which you want to assign an account classification grouping code.
  4. In the Assign Account Grouping Code dialog, select the applicable code and subcode and click OK.

Add a new account

You can assign account classification grouping codes when you add an account in the Trial Balance tab.

During the conversion process

During the conversion process, you can map existing groupings or Account Classification grouping codes to those available in AdvanceFlow. For more information, see the following conversion guides.

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