This form allows to rename built-in Employee clearing account account.
To access this form, go to Settings, then Chart of Accounts, then click Edit button for Employee clearing account account.
The form contains the following fields:
There are following fields:
Enter the name for the employee clearing account. This account tracks amounts owed to or from employees, such as expense reimbursements, salary advances, or other employee-related transactions.
The default name is Employee clearing account, but you can rename it to better suit your business needs, such as 'Employee Advances' or 'Staff Reimbursements'.
Optionally, enter an account code to help organize your chart of accounts. Codes are useful for sorting accounts and can make it easier to find accounts in reports and transactions.
Select the Balance Sheet group where this account should appear. Employee clearing accounts are typically shown under current assets (if employees owe money) or current liabilities (if the business owes employees).
Choose the appropriate group based on whether your business typically has net amounts receivable from or payable to employees.
Click Update button to save your changes.
This account cannot be deleted, it is automatically added to your Chart of Accounts when you have created at least one employee.
For more information see: Employees