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Accounts Editor command (Accounts menu)

Use this command to display a form that allows you to edit certain account information. The Accounts Editor form offers the following options:

Account Category

Provides a list of all account categories ( Asset and System). To edit an account select a category. Use this form to edit Asset Accounts and to add/edit System Accounts.

System Accounts and Assets

Provides a list of accounts that are included in the Account Category. Select an account to edit. If the Account Category is a system category, the list includes the – Create new account option allowing you to add a new System Account. This form may not be used to add Asset Accounts. Asset Accounts may be added using the Initial/Supplemental Inventory Form or by recording transactions.

Account Name

Provides a place for you to edit the name of the selected account.

Description

Provides a place for you to edit the description of the selected account. Text can be copied from a selection in the Prior Text drop-down box that displays in the toolbar.

CUSIP/Symbol/ID

Provides a place for you to edit the CUSIP Number, Symbol, or other identifier for the selected asset.

Select Initial or Supplemental Inventory

Displayed for information only. Use Initial/Supplemental Inventory Form to edit.

Date Asset Received

Displayed for information only. Use Initial/Supplemental Inventory Form to edit.

Acquisition Date

Type the date that the current asset was acquired. The field is used to record the original acquisition date for the asset usually the donor’s date of acquisition. It may also be the acquisition date used to determine holding period for tax purposes. This field is only available for assets included in the Initial or Supplemental Inventory.

Print Account if Zero Balance

Check this box if you want this asset to print in fiduciary reports even if the carrying value of the asset is zero.

Income Account

If applicable, this dropdown provides a list of income accounts. Select an income account to which the income produced by this asset will be automatically recorded. This field is required if the current asset will produce income. Otherwise, this field is optional but may be added later.

Description Standard

This field is enabled when you are creating an asset that does or might produce income.

Type a phrase that describes the nature of the income produced by the asset being created. Text can be copied from a selection in the Prior Text drop-down box that displays in the toolbar.

Examples:
   >> Dividend received
   >> Interest received
   >> Rent received
   >> Annuity received

The phrase will be used as the transaction description each time income for this asset is recorded.

This is an optional entry and may be blank. You may overwrite or edit this phrase when recording a transaction.

Producing Asset Category and Name

These dropdown lists are enabled when the current Account Category is Accrued Income Receivable. They allow you to link the current asset to the asset that produces the related income.

This linkage is established to provide to TotalTrust the information necessary for proper report presentation.

 

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