Journal summary - Accounting
The Journal Summary - Accounting report is the similar to the Journal Summary - Taxation report. The difference is that the assets and asset transactions included in the report must belong to an Asset Register set up for Accounting Depreciation. In Australia, none of these assets can belong to a pool.
The Journal Summary - Accounting report distinguishes between general and immediate deductible assets and is divided into 3 sections:
header
footer
content.
The report will be displayed in portrait orientation. The header of the report displays the client name, ABN (Australia)/IRD (New Zealand), report name and date period of the report.
The Journal Summary report is divided into general and immediate deductible assets.
The report identifies the:
Client Name
(Australia) ABN
(New Zealand) IRD
Report Name
Starting from
Ending on.
For each account with a non-zero balance the report lists:
Account Code (listed in ascending order)
Description (the name of the account)
Debits
Credits.
Account balances for each account are derived as:
Debits (positive amounts) | Credits (negative amounts) |
|---|---|
Depreciation | Accumulated depreciation |
Private Use Balance sheet a/c | Private Use Profit & Loss a/c |
Realisation | Profit on Sale |
Loss on Sale | Cost for all the sold assets |