Non-Current Liabilities Movement Statement - How to Create “Categories” with Utilisation Accounts

Sinking Fund Example

1) Create your Utilisation accounts in SETTINGS > Chart of Accounts

Create separate Non-Current Liabilities accounts for each category, 

Examples:

3102    Sinking Fund Utilisation – General

3103    Sinking Fund Utilisation – Lift

3104    Sinking Fund Utilisation – Painting 

These Utilisation accounts become the category headings in the report.

2) Use the Utilisation Accounts when Recording Expenses

When the sinking fund is used, select the relevant utilisation account:

AP Invoice

Credit: Creditor

Debit: Sinking Fund Utilisation – [Category]

Cash Payment

Credit: Bank

Debit: Sinking Fund Utilisation – [Category]

3) Generate the Report

Go to REPORTS > click Non-Current Liabilities Movement Statement

Set Date Range

Any accounts starting with the word “Sinking” will appear in the Selected Accounts box by default.

Click Preview or Export PDF or Export Excel.