Adding GL Accounts and Cost Detail Codes in HomeBuilder –
A Quick Guide to Enhancing Your Chart of Accounts and Cost Details –
In this post, we delve into adding General Ledger (GL) accounts and cost detail codes within HomeBuilder. We provide a step-by-step guide on enhancing your chart of accounts by adding new expense accounts and cost detail codes. This tutorial aims to help users streamline their financial management and improve the accuracy of their accounting records.
Adding GL Accounts and Cost Detail Codes
Welcome to our HomeBuilder series of videos, where we answer common questions quickly. Today, we will be looking at adding a GL account to the chart of accounts and adding a cost detail code.
Adding a GL Account:
To add a new GL account to the chart of accounts, follow these steps:
- Search for Chart of Accounts: Go to the search bar at the top of the menu and type “Chart of accounts.” This will bring you to the chart of accounts.
- Select Expense Account: Scroll down to the income statement section to find existing expense accounts. Identify where you want to add the new account, such as underneath marketing expenses.
- Create New Account: Click “New” and enter the account number (e.g., 50310) and name (e.g., auto expenses). Ensure it is set as an income statement account.
- Categorize the Account: Assign a category and subcategory, such as “vehicle expenses.”
- Indent the Account: Click on the home button and select “Indent chart of accounts” to properly format the new account.
Adding a Cost Detail Code:
Next, we add a cost detail code, which functions similarly to a sub-ledger.
- Search for Cost Details: Go to the search bar again and type “cost details.” Hit enter to access the cost details section.
- Create New Permit Type: Click “New” and enter the code (e.g., 2015) and name (e.g., permit development). Place it within the appropriate group code.
- Refresh and Realign: Press the F5 button on your keyboard to refresh the page and realign the new permit type.
Conclusion:
By following these steps, you can efficiently add GL accounts and cost detail codes within your HomeBuilder software. This process ensures accurate financial management and enhances the organization of your accounting records.
HomeBuilder by Suite Engine
HomeBuilder is a comprehensive software solution designed specifically for residential production builders. Developed by Suite Engine, it integrates seamlessly with Microsoft Dynamics 365 Business Central to provide modern and secure construction management capabilities.
Key Features of HomeBuilder:
- Phase, Model, and Lot Management:
- Efficiently manage construction phases, models, and lots.
- Track vendor contracts and control budgets directly from the system.
- Budget Control and Reporting:
- Monitor budget to actual reporting.
- Manage model and lot pricing, as well as installment payments.
- Purchaser and Contact Management:
- Handle lot closing dates and sales status.
- Automate closing adjustments.
- Décor Center:
- Pre-determined color chart selections with visual aids.
- Invoice purchasers or include selections in closing adjustments.
- Warranty and Inspections:
- Create service issues and work orders for trades.
- Track work order progress and generate reports.
- Integration and Automation:
- Fully integrated reporting and financials.
- Natively integrates with the Microsoft stack, such as Power Automate, Power BI, and more.
Benefits of Using HomeBuilder:
- Enhanced Financial Visibility: Provides detailed financial reporting and control over costs.
- Improved Efficiency: Streamlines processes and keeps operations organized.
- Mobile Accessibility: Accessible on PC, tablet, or phone, allowing for flexibility and remote management.
- Customer and Vendor Satisfaction: Offers portals for contractors and home buyers to access relevant data, improving communication and satisfaction.
HomeBuilder is designed for residential builders who construct 30-150 units per build cycle, making it suitable for townhouses and condominiums. By automating and streamlining day-to-day operations, HomeBuilder helps residential developers manage their businesses more effectively and professionally.
HomeBuilder is Modern and Secure Software for Production Builders | Built within Microsoft Dynamics 365 Business Central
- Learn more about HomeBuilder.
- Get the App on Microsoft AppSource today, or request a personalized demo!
- Get going in no time with our HomeBuilder ‘How-To’ videos
