Create Accounts

An account is a page in your books for one party or one kind of money: a customer who buys on credit, a supplier you buy from, your bank, your shop rent. Create it once and Speed Plus keeps its running balance, and fills the party's name, address and GSTIN onto every bill.

4.1Accounts, Ledgers and Groups: the Basics

Each account sits in a group. The group tells Speed Plus what kind of account it is, so it lands in the right place in the balance sheet and in the right reports. A new company comes with ready groups; the ones you use most are these.

To add a group of your own, such as RETAILERS - JALANDHAR, press F3 in the Group box of the account (or click the + beside it), or open Settings icon → Account Groups. In the ACCOUNT GROUP ENTRY screen, type the Group name, choose the Under Group (for example CUSTOMERS or Sundry Debtors) and click Save.

Account Group Entry

4.2Turning On the Fields You Need

The account screen can hold a lot of party detail. You choose which extra fields it shows, so staff fill only what your trade needs. Do this once:

1. Open a new account (Masters → Accounts → New) and click Settings at the top right. The Settings panel opens.
2. Click a switch to turn it ON or OFF.
3. Close the panel with X. Your choices are saved for all accounts.

Account Settings

4.3Creating a New Account

1. Open Masters → Accounts and click New (or Accounts card → New). The Create Account screen opens.
2. Type the party's Name. If the name is already used, Speed Plus says Account Already Exists.
3. Print As is the name printed on bills. It starts the same as the name; change it if the bill should show a longer legal name.
4. Choose the Group (4.1). The Dr. / Cr. box takes the usual side of that group, for example Cr. for SUPPLIERS.
5. Type the Opening Bal. and check Dr. or Cr. (4.6).
6. Type the Tax No. (GSTIN), then Address Line 1, Address Line 2, City, Pincode, State and State Code (4.5).
7. Type Mobile, Phone and Email. Press Enter in Email; the More Info window opens if you switched on any extra fields.
8. Fill Contact Person and PAN Card No. if you have them, then click Save. Speed Plus says New Account has been Added.

More Info

4.4The More Info Window

The More Info window shows only the fields whose switch you turned on in 4.2. It opens after the Email box. Close it with X when you are done.

More Info

4.5GSTIN, State and Party Type

The GSTIN (GST number) goes in Tax No. It is 15 characters long. The first two digits are the state code; the next ten are the party's PAN. When you press Enter in the box, Speed Plus does four things:

1. It checks the pattern. A GSTIN that does not fit the GST pattern turns red. Correct it before you save.
2. It looks for the same GSTIN on another account. If found, it shows Duplicate GSTIN No. with that party's name and city, and asks whether to continue.
3. If PAN Card No. is empty, it fills it from the GSTIN. If State Code is empty, it fills the state code and State too.
4. For a new account it sets the Party Type: a party in your own state with a GSTIN becomes Within State B2B Party; without one, Within State Consumer; in another state, Out of State B2B Party or Out of State Consumer.

Fill a party from its GSTIN

Click Get Account Information with GST No. at the top of the screen. A box opens; type the GSTIN and click the search button beside it. Speed Plus reads the GST portal and fills the trade name, legal name (as Contact Person), address, city and pincode. It needs internet and Google Chrome on the PC. If an account with that GSTIN exists already, it tells you and stops. The second button beside the box lets you paste many GSTINs (one per line) and create all those accounts in the group you chose, after it drops the invalid and existing ones.

4.6Opening Balance (Dr / Cr)

The opening balance is what the party already owed you, or you owed them, on the day you start the books in Speed Plus (usually 1 April). Type the amount in Opening Bal. and choose the side in Dr. / Cr. The software's own hint says it well: if the amount is receivable, choose Dr.; if it is payable, choose Cr.

A full set of books balances: all Dr. opening balances together equal all Cr. opening balances together. While they do not, the account screen shows a line Difference In Opening Balances with the gap and its side. Once your capital account, cash, bank, stock and all parties are in, the line goes away. If it stays, ask your accountant which balance is missing.

4.7Credit Days, Credit Limit and Bill Limit

These fields are in the More Info window once Maintain Bill By Bill Balance is on in Settings (4.2).

A limit works only when you tell Speed Plus what to do when it is crossed: Settings icon → General Settings → Most used → Credit Limit Warning. The choices go from never checking, to Warn me if Credit Limit is exceeding, to Ask me to continue, to Dont Allow Bills if Credit Limit Is exceeding. The bill limit has its own Bill Limit Warning under Warnings and locks, with a choice to treat it as a monthly limit.

4.8Bill-by-Bill Balance

1. In More Info, tick Maintain Bill By Bill Balance for the party. A small button appears beside the tick.
2. If the opening balance is made of old unpaid bills, click that button. The Enter Bill By Bill Opening Balances window opens.
3. For each old bill, fill Bill No., Bill Date, Due Date, Entry (for example Sale), Amount and Dr. / Cr., and add the line.
4. Check No. of Bills, Total Dr. Amt., Total Cr. Amt. and Net Balance Amt, then click Continue.

Bill By Bill Opening Balances

Pending bills show in Reports → Bill-By-Bill Reports (Bill By Bill Collection Register, Aging Analysis, Bill Wise Log) and in Reports → Outstanding Analysis. Receipts against bills are covered in 10.2 and 10.3.

4.9The Account List (Address Book)

Masters → Accounts opens the list of all accounts, headed ADDRESS BOOK. It shows each account's group, city, mobile, GSTIN and opening balance.

Address Book

4.10Export and Import Accounts with Excel

Excel helps when you copy parties from one company to another, bring them in from other software, or correct many accounts at once (add missing mobile numbers or GSTINs) and bring them back.

Export

1. In the account list, tick the accounts you want if you need only some. Click Export. The Export Accounts panel opens.
2. Under Export What...? choose All Accounts or Selected Accounts Only.
3. Under Opening Balance choose Pick Opening Balance (as entered), Pick Closing Balance (today's balance becomes the opening, good for a new company) or No Balance (0 Op. Bal.).
4. Click Export. Speed Plus says Export done successfully and names the file (AccountsList and the date and time) in the Temp folder of Speed Plus. Answer Yes to open that folder.

The file has one row per account with name, group, opening balance and D/C, address, city, state, phone, mobile, email, contact person, bank details, party type, DL numbers, bill-by-bill, credit limit, bill limit, credit days, additional fields, GSTIN, Aadhaar, state code, pincode and the account ID.

Export Accounts

Import

1. Open the company you want to fill, then Masters → Accounts → Import. The Import Account Masters From Excel panel opens.
2. Keep the format at 1) Default Account Masters. Use 2) Foxpro Software Account Masters only for a party list from that older software.
3. Click View Sample File to see the columns in the right order.
4. Click Browse Excel File and pick your file.
5. In No. of Records, type how many rows to import, or leave 0 for all.
6. Choose Import as All Accounts are new From Excel Sheet or Overwrite existing accounts with new account details, then click Import Data. The panel ends with Imported and the count.

Import Account Masters

Accounts can also come in from Busy and Tally (36.8, 36.9).

4.11Merging Two Accounts

Sometimes the same party is created twice, for example Gupta Kirana and Gupta Kirana Store, and bills went to both. Help → Merge Accounts moves every entry of one account into the other.

1. Take a backup of the company first.
2. Open Help → Merge Accounts. In Source Account, pick the wrong account (the one that will be emptied).
3. In Destination Account, pick the account that stays.
4. Click Merge. Speed Plus asks you to type 123456789 to confirm. Type it and press OK. It says Accounts Merged Successfully.

Merge Accounts

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