How to use the “Heading Only” account?
Software: MoneyWorks accounting software
Heading Only.
If you want the account to be primarily used as a heading in summary reports, set this option. You will not be able to directly code to these accounts, and they will be greyed out in the choices window.
– Page 37 of the MoneyWorks user guide
Heading Only is a checkbox field in the account profile, it allows you to set an account as a Heading Only to group a series of accounts.
For example, in the chart of accounts list, you have:
7011 Salary
7012 CPF Employer
7013 Foreign Worker Levy
7021 Dep – Furniture & Fittings
7022 Dep – Office Equipment
7023 Dep – Property
7031 Advertising & Promotion
7032 Referral Fee
7041 Audit Fee
7042 Tax Computation Fee
9011 Income Tax
These accounts will be presented in the Profit & Loss report as:
Now, add these “heading only” accounts to the chart of accounts list:
7010 Payroll Expenses
7020 Depreciation Expenses
7030 Selling Expenses
7040 Administrative Expenses
9010 Tac Expenses
Reprint the Profit & Loss report, in the print setting, set the “Sort” field as “Subtotal as = First 3 Digits”
The “First 3 Digits” means the first 3 digits of the account code.
Example:
7010 Payroll
7011 Salary
7012 CPF Employer
7013 Foreign Worker Levy
The first 3 digits of these accounts are “701”, So it will take the Heading Only account 7010 Payroll as a header and summaries up the series of accounts with the first 3 digits “701” under it.
