- Account Type Overview
- Account Types in Zipi
- Show in Expenses
- Display to All
- Visibility for Divisions
- Parent Name
- Account Number
Account Type Overview
The five account types are: Assets, Liabilities, Equity, Revenue (or Income) and Expenses.
- Assets: tangible and intangible items that the company owns that have value (e.g. cash, computer systems, patents)
- Liabilities: money that the company owes to others (e.g. mortgages, vehicle loans)
- Equity: that portion of the total assets that the owners or stockholders of the company fully own; have paid for outright
- Revenue or Income: money the company earns from its sales of products or services, and interest and dividends earned from marketable securities
- Expenses: money the company spends to produce the goods or services that it sells (e.g. office supplies, utilities, advertising)
Account Types in Zipi
When importing your chart of accounts, the Account Types in the TYPE column (downloadable csv sample) must match exactly with the types listed below. For example, if you want to import Other Asset but instead put Other Assets, it will not import. Must be exact! These account types may not match your exported chart of accounts. It's up to you to ensure your import files accuracy.
- Other Asset
- Other Current Asset
- Other Current Asset (Accounts Receivable) - System Account. Cannot add/import/delete.
- Fixed Asset
- Payment Clearing
- Other Current Liability
- Current Liability - System Account. Cannot add/import/delete.
- Credit Card
- Long Term Liability
- Other Liability
- Trust Liability - System Account. Cannot add/import/delete.
- Retained Earnings
- Common Stock
- Preferred Stock
- Treasury Stock
- Additional Paid in Capital
- Partner Contributions
- Partner Distributions
- Other Income
- Cost of Goods Sold
- Other Expense
Show in Expenses
Do you want your expenses to be visible in your Purchases (Accounts Payable) module (click to view screenshot)? Type YES in the 'Show in Expenses' column ONLY for the expenses you want visible and NO for the ones you do not.
Display to All
Type YES in all rows if you want every ledger account to be visible by all companies and divisions within your organization.
Visibility for Divisions
If you have Divisions created within your organization, you can choose which Division each ledger account will be assigned, unless you choose Display to All.
All currency in Zipi is USD.
A General Ledger Code (GL Code) is a unique shorthand code or number given to each account in the Chart of Accounts.
Ledger account name.
Sub-Account Ledgers provide more precise details of particular accounts within the parent account and it is used to focus on particular data. In the example below, Promotional Materials is the Parent Name (Parent Account) and Property Signs/Installation is the Sub-Account.
Here is an example of how Parent Accounts / Sub-Accounts are added to the Chart of Accounts Import Template.
Bank account or credit card number associated to a specific ledger account.