Financial Account Numbers | ProdSys Help Center

Introduction

In ProdSys, account numbers play a crucial role in managing the financial flow of the business, particularly when it comes to handling sales (both domestic and export) and purchases. Each type of article in the system is associated with three main types of accounts: Domestic Sales, Export Sales, and Purchases. This article explains how account numbers are structured, their purpose, and how to ensure all articles are linked to the correct financial accounts in ProdSys.

Purpose of Account Numbers

The main purpose of account numbers in ProdSys is to assign specific financial accounts for different types of transactions involving articles. These accounts ensure that the correct entries are made in the company’s accounting system, helping businesses track revenues and expenses efficiently and ensuring compliance with VAT and tax regulations.

Accessing the Account Numbers in ProdSys

Login: Start by logging into your ProdSys account using your username and password.
Navigate to Account Numbers: From the main menu, go to System > Settings > Sales Accounts. Here you will find a list of all the financial accounts associated with articles.

Key Features of the Account Number Page

Number: Displays the unique code for each financial account. For example, 3000 might represent "Sales Revenue, Domestic."
Description: Provides a clear description of what the account is for. For example
"Sales revenue, taxable goods, high VAT rate."
VAT Code: The VAT (Value Added Tax) code associated with the account. For example, Mva 25% applies a 25% VAT rate to taxable sales.
Default Type: Indicates whether the account is used for Domestic Sales, Export Sales, or Purchases. This categorization ensures that transactions are correctly allocated to the appropriate account types.

Linking Articles to Accounts

Each article in the system is automatically linked to three main financial accounts:

Domestic Sales: For sales transactions within the country.
Export Sales: For sales transactions to customers outside the country.
Purchases: For purchasing transactions related to acquiring goods or services.

These accounts ensure that every transaction involving an article is captured correctly in the company's financial reports.

Creating Default Sales Accounts

To ensure that all articles in your system are linked to the appropriate financial accounts, you can use the Create Default Sales Accounts button located in the upper-right corner of the screen.

Create Default Sales Accounts: This button automatically generates the necessary default accounts (Domestic Sales, Export Sales, Purchases) for all articles. This ensures that no article is missing the required financial account links, which is essential for accurate financial reporting.
Manual Adjustments: If needed, you can manually adjust or add specific accounts by clicking the three dots next to each account in the list. This allows for more flexibility if your company requires custom account setups for certain types of articles.

Best Practices for Managing Account Numbers

Ensure All Articles Have Accounts: By using the Create Default Sales Accounts button, you can automate the process of linking articles to the necessary financial accounts, reducing the chance of errors or omissions.
Editing Accounts on Articles: You can edit accounts on articles individually or
mass update accounts on multiple articles.
Regularly Review Accounts: Periodically review the account numbers and descriptions to ensure they are up-to-date and reflect any changes in your company’s financial structure or tax obligations.
Custom Accounts for Specific Needs: If your business has unique financial needs, consider creating custom accounts for certain types of transactions, such as specialized purchases or niche sales categories.

Conclusion

The account number functionality in ProdSys is essential for managing the financial side of article transactions. By ensuring that each article is linked to the correct financial accounts for domestic sales, export sales, and purchases, businesses can maintain accurate financial records and ensure compliance with tax regulations. Using the Create Default Sales Accounts button streamlines this process, ensuring that all articles are properly accounted for and reducing the risk of financial discrepancies.