This screen enables you to configure equity accounts in your new database. The fields are as follows:
- Equities code and Equities name: This is a header account that all other equity accounts are grouped under. The name of this account will appear on reports that group equities together.
- Current earnings code and Current earnings name: This account is used for net earnings/profit/surplus in the current financial or fiscal year.
- Retained earnings code and Retained earnings name: This account is to record the balance of historical earnings/profit/surplus that has been retained in your business.
Account codes and names can be changed later through Uwazi’s Chart of Accounts screens.