Account Type Summary

Account Type Summary

The Account Type Summary report in EquiBillBook provides a comprehensive overview of all accounts grouped by their account types (Assets, Liabilities, Income, Expenses, Equity). It helps you understand the financial structure of your business and analyze account balances by category. This guide explains how to generate and understand the Account Type Summary report.

What is Account Type Summary?

The Account Type Summary shows:

• All accounts grouped by account type
• Account type totals and subtotals
• Individual account balances within each type
• Opening and closing balances by account type
• Account count for each type
• Financial position overview

Purpose of Account Type Summary

The Account Type Summary is used to:

• View financial position by account type
• Analyze account distribution
• Understand business financial structure
• Review account type balances
• Identify account type trends
• Prepare financial statements
• Support financial analysis

Accessing Account Type Summary

To generate an Account Type Summary:

1. Navigate to Reports from the main menu
2. Go to Accounts Reports
3. Select Account Type Summary
4. Set the As of Date (the date for which you want the summary)
5. Select account types to include (or select all)
6. Select branch (if using multi-branch setup)
7. Configure additional filters if needed
8. Click "Generate" or "View Report"

Understanding Account Type Summary Structure

1. Account Types

The report organizes accounts by type:

Assets

• Current Assets: Cash, bank, receivables, inventory, prepaid expenses
• Fixed Assets: Property, plant, equipment, less depreciation
• Other Assets: Investments, intangible assets, other long-term assets
• Total Assets: Sum of all asset accounts

Liabilities

• Current Liabilities: Payables, short-term loans, accrued expenses
• Long-term Liabilities: Long-term loans, bonds, deferred taxes
• Other Liabilities: Other long-term obligations
• Total Liabilities: Sum of all liability accounts

Income

• Sales Revenue: Income from sales of products/services
• Other Income: Interest income, discounts received, other income
• Total Income: Sum of all income accounts

Expenses

• Cost of Goods Sold: Direct costs of sales
• Operating Expenses: Administrative, selling, financial expenses
• Other Expenses: Miscellaneous expenses
• Total Expenses: Sum of all expense accounts

Equity

• Capital: Owner's capital, share capital
• Retained Earnings: Accumulated profits/losses
• Other Equity: Reserves, other equity items
• Total Equity: Sum of all equity accounts

2. Account Information

For each account, the report shows:

• Account Code: Unique account identifier
• Account Name: Name of the account
• Account Type: Type of account
• Opening Balance: Balance at start of period
• Debit Total: Total debits during period
• Credit Total: Total credits during period
• Closing Balance: Balance at end of period

3. Summary Totals

The report provides:

• Account Type Totals: Sum of all accounts in each type
• Grand Totals: Overall totals across all types
• Account Count: Number of accounts in each type
• Balance Verification: Assets = Liabilities + Equity

Report Configuration Options

1. Date Selection

Choose the date for the report:

• Today: Current date's account balances
• End of Month: Month-end balances
• End of Quarter: Quarter-end balances
• End of Financial Year: Year-end balances
• Specific Date: Any date you want to review

2. Account Type Selection

Choose which account types to include:

• All Account Types: Include all types
• Specific Types: Select specific account types
• Assets Only: Show only asset accounts
• Liabilities Only: Show only liability accounts
• Income & Expenses: Show only income and expense accounts

3. Display Options

Customize report display:

• Show Zero Balance Accounts: Include accounts with zero balance
• Hide Zero Balance Accounts: Exclude inactive accounts
• Show Sub-accounts: Display detailed account breakdown
• Group by Account Type: Organize by account type
• Show Opening Balances: Display opening balances
• Show Closing Balances: Display closing balances
• Show Account Count: Display number of accounts

Understanding Account Type Summary

1. Assets Section

Shows all asset accounts:

• Current assets (cash, receivables, inventory)
• Fixed assets (property, equipment)
• Other assets (investments, intangibles)
• Total assets

2. Liabilities Section

Shows all liability accounts:

• Current liabilities (payables, short-term loans)
• Long-term liabilities (long-term loans, bonds)
• Other liabilities
• Total liabilities

3. Income Section

Shows all income accounts:

• Sales revenue
• Other income
• Total income

4. Expenses Section

Shows all expense accounts:

• Cost of goods sold
• Operating expenses
• Other expenses
• Total expenses

5. Equity Section

Shows all equity accounts:

• Capital accounts
• Retained earnings
• Other equity
• Total equity

Report Formats

1. Standard Format

Traditional account type layout:

• Account types listed separately
• Accounts within each type listed
• Type totals shown
• Grand totals at the end

2. Hierarchical Format

Shows account hierarchy:

• Account types at top level
• Account groups at second level
• Individual accounts at third level
• Roll-up totals at each level

3. Comparative Format

Shows multiple periods side-by-side:

• Current period vs. previous period
• Variance amounts
• Percentage changes
• Trend analysis

Exporting Account Type Summary

Export the report in various formats:

• PDF: For printing and official records
• Excel: For further analysis and calculations
• CSV: For importing into other systems
• Print: Direct printing

Using Account Type Summary for Analysis

1. Financial Structure Analysis

Use Account Type Summary to:

• Understand business financial structure
• Analyze account distribution
• Review account type balances
• Identify account type trends

2. Balance Sheet Preparation

Use Account Type Summary to:

• Prepare balance sheet
• Verify account type totals
• Check balance sheet equation
• Ensure all accounts are included

3. Account Type Review

Use Account Type Summary to:

• Review account type balances
• Identify unusual balances
• Check account categorization
• Verify account type assignments

Common Account Type Summary Scenarios

1. Monthly Account Type Review

Generate monthly summary to:

• Review monthly account type balances
• Track account type trends
• Identify changes in account types
• Prepare monthly financial reports

2. Year-End Account Type Summary

Generate year-end summary for:

• Financial year-end closing
• Annual audit requirements
• Tax filing purposes
• Historical record keeping

3. Account Type Analysis

Generate for analysis to:

• Analyze account distribution
• Review account type balances
• Identify account type patterns
• Support financial planning

Tips for Using Account Type Summary

• Generate Account Type Summary regularly
• Review account type balances
• Compare summaries across periods
• Verify balance sheet equation
• Check account categorization
• Use for financial analysis
• Export summaries for records
• Maintain historical summaries

Account Type Summary vs. Other Reports

Account Type Summary vs. Balance Sheet

• Account Type Summary: Shows accounts grouped by type
• Balance Sheet: Shows financial position (Assets, Liabilities, Equity)
• Account Type Summary is account-focused
• Balance Sheet is position-focused

Account Type Summary vs. Trial Balance

• Account Type Summary: Shows accounts grouped by type with totals
• Trial Balance: Shows all accounts with debit/credit balances
• Account Type Summary provides type-wise grouping
• Trial Balance provides account-wise listing

Troubleshooting Account Type Summary Issues

Missing Accounts

• Check account type assignments
• Verify accounts are active
• Review account filters
• Check branch selection

Incorrect Totals

• Verify account balances
• Check account type assignments
• Review date selection
• Ensure all accounts are included

Best Practices

• Generate Account Type Summary regularly
• Review account type balances
• Verify balance sheet equation
• Check account categorization
• Compare summaries across periods
• Export summaries for records
• Maintain historical summaries
• Use for financial analysis

Need Help?

If you need assistance with Account Type Summary:

• Ensure you have proper permissions to view reports
• Verify date selection is correct
• Check that accounts are properly configured
• Review account type assignments
• Verify account balances are correct
• Contact support for help with complex queries

The Account Type Summary is essential for understanding your business's financial structure and analyzing account balances by category. Regular review of Account Type Summary helps track financial position, supports financial analysis, and provides valuable insights into account distribution.