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      How do I set up my Chart of Accounts?

      Learn how to set up the Chart of Accounts for your organization.

      Your accountant or bookkeeper should have a listing of which accounts they want you to use for each cost of sales, expense, income, and liability accounts. You can detail the list and enter the corresponding account numbers from your accounting system in the "General Ledger (GL) Accounting References" field.

      Each inventory item will be assigned to an inventory group, and in turn, an account. This will help to simplify entry and reporting. Ex. The item Apple Juice will be assigned to the NA Beverage Group which is tied to the Food account.

      We have provided a preset list of accounts; however, you can always add and/or delete accounts to correspond with your existing accounts.

      To Add, Delete or Edit Accounts:

      1. Click "Settings" (upper left corner)
      2. Choose "Setup"
      3. Select "Accounts"
      4. Select an existing account to edit or delete. To create a new account click "Add".
      5. Enter all information as detailed below.
      6. Click "Save"
      Field Details
      Account Name

      Enter the account name. If you want this to be a sub-account, type in the name of the account you wish to create a sub-account for, add a dash, and enter the desired number.

      Ex. Chili Seasoning Mix would be Cost of Sales - Food and Cost of Sales - Spices
      GL Accounting Reference

      The name or code number that corresponds with this account in your accounting system. As this can be edited later, press the TAB key to skip entering the Accounting Reference and Optimum Control will copy the account name to this field.

      Ex. Food could be referenced as Account K4100 or 5-2000 to correspond with your accounting system.
      Account Type

      ∗You may wish to consult with your accountant or bookkeeper for assigning account types.

      For the purposes for this program, you have the following account types:

      • Asset – e.g. Banking, Credit Card, etc.
      • Cost of Sales – e.g. Beverages, Food, Labor, etc.
      • Expense – e.g. Delivery Charges, Paper Products, etc.
      • Income – e.g. Gross Sales, Other Income, etc.
      • Liability – e.g. Tax Accounts, etc.

       
      Active "Active" is the default. If you wish to make the account "Inactive", uncheck the box and the account will not appear in any windows or reports.
      Contra Account

      In the Usage Summary and P&L reports, you can choose to list Contra Accounts. Cost of Sales and Expense accounts provide base percentages on certain income accounts.

      Ex. You may want all food-related Cost of Sales accounts listed as a percentage against food sales. In this case, the Food Sales Income Account is the Contra Account.

      Contra Accounts

      Contra Accounts are used to give a percentage cost of Cost of Sales and Expense Accounts to the Contra Sales Accounts in Profit and Loss (P&L) reports. This divides the cost of sales to a specific sales account.

      Each category can have an income account assigned to it. By default, these accounts are linked to the Total Income account. Your sales will be detailed based on the groups and categories each sold menu product is assigned.

      To Set a Contra Account:

      1. Be sure your Sales Categories are entered.
      2. Select "Settings" (upper left corner)
      3. Choose "Setup"
      4. Click "Accounts"
      5. Add a new Income Account to correspond to your Sales Categories (Food Sales, Liquor Sales, etc.)
      6. In the Cost of Sales or Expense Accounts, choose the appropriate Sales Account to link to under Contra Account.
      7. Click "Save"
      8. Repeat procedure for all desired Cost of Sales accounts. You will now be able to see the food cost percentage of Food Sales on your P&L reports.