Setting up default accounts

You can setup default revenue accounts from Winery setup – Accounts. Click here for more information on accounts setup and linking them to an accounting package.

Default accounts 1

Click on the Defaults button. Here you can configure all your default accounts. So for example if you have not configured an asset account specifically for your bottled goods, then it will fall back to use the Asset account set here in your default accounts.

Default accounts 2

The following are the default accounts you can configure in vintrace:

AccountDescription
Work In ProgressTracks the value of your wine batches through the various stages of the production cycle.
Cost of GoodsTracks the value of the cost of goods sold from your sales.
RevenueTracks the value of the revenue generated from your sales.
ExpenseTracks the cost of the expenses incurred (purchases, services, etc.)
AssetTracks the value of your resources (finished products, stock)
LiabilityTrack legal debts/obligations that arise during production and business operations.
Write offTracks the resources that are written off.

To create a new account to set as default, you can click on the add button.

Default accounts 3