System accounts are specified in the chart of accounts under Finance/Chart of accounts in the System account field.
System accounts are used for automatic postings of e.g. exchange rate differences, penny differences, retained earnings etc.
Many will probably recognize system accounts as parameters in other financial systems.
We recommend that financial accounts that are set up as system accounts (i.e. the System account is filled in) field must also have a check mark in the Blocked in journal field so that these system accounts are never posted directly:
However, you can easily set up system accounts on accounts that are already posted manually or automatically. For example, you can use the cost of sales account in operations to also post inventory losses/profits.
System accounts can only be specified on accounts that can also be posted to. That is, accounts with all account types other than Header, Total and Calculation expression. Read more about account types in this article: Account types in the chart of accounts
However, you can easily set up system accounts on accounts that are already posted manually or automatically. For example, you can use the cost of sales account in operations to also post inventory losses/profits.
System accounts can only be specified on accounts that can also be posted to. That is, accounts with all account types other than Header, Total and Calculation expression. Read more about account types in this article: Account types in the chart of accounts
Description of the different system accounts
| System account | Account description |
| Account for transfer of profit for the year | The Create Opening Transactions button under General Ledger/ Maintenance/Accounting yearaccounts with account types in the income statement, and these amounts are reset, i.e. the profit for the year is automatically transferred to the account specified as this system account. Typically this is an account under equity. |
| Tax account | Selected as system account on duty-account such as electricity duty etc. The information is used in connection with the VAT specification and VAT declaration, and it is therefore important to fill in the system account field on all duty accounts, otherwise they will not appear on the VAT declaration. Note! From version 90 of Uniconta, it is recommended to use the system accounts 'Electricity duty', 'Oil & bottled gas duty' etc. instead. |
| Electricity tax, oil & gas tax etc. | On the account where the electricity tax is booked, e.g. 6911 in the standard chart of accounts, enter 'Electricity tax' in the System account field. The information is used in connection with the VAT specification and the VAT return, so it is important to fill in the system account field on all tax accounts, otherwise they will not appear on the VAT return. |
| Manual outgoing VAT | If you post manual outgoing VAT amounts, the account to which you post these VAT amounts must be filled with the value 'Manual outgoing VAT' in the System account field, otherwise these amounts will not be included in the VAT specification and VAT statement. |
| Outgoing VAT | On the account(s) in the chart of accounts on which you post output VAT, e.g. account 6902 in the standard chart of accounts, select the value 'Output VAT' in the System account field. This information is used on the VAT specification and VAT statement. |
| Manual input VAT | If you post manual input VAT amounts, the account to which you post these VAT amounts must be filled in with the value 'Manual input VAT' in the System account field, otherwise these amounts will not be included in the VAT specification and VAT statement. |
| Incoming VAT | On the account(s) in the chart of accounts on which you post input VAT, e.g. account 6907 in the standard chart of accounts, select the value 'Input VAT' in the System account field. This information is used on the VAT specification and VAT statement. |
| Price difference | Account for posting for automatically calculated exchange rate differences when buying and selling in foreign currency. The exchange rate difference typically occurs when the rate changes in the time between invoicing and payment. Please note that dimensions are not shown on exchange rate difference accounts. |
| Ear differential | Account for accounting for ear differences. Please note that dimensions will not be shown on penny difference accounts. For example, if you receive a payment of DKK 990 on an invoice of DKK 995, there will normally be DKK 5 left on the debtor's account after posting this payment. However, if you check the However, if you check the Enforce equalization box in the draft when posting the payment, the 5 kr. will automatically be posted away from the debtor's account and into this penny difference account. |
| VAT rounding | Account for automatic posting of VAT rounding. When invoicing, VAT is calculated per line, if there are many lines and some have "odd" amounts, the VAT sum of each line may not equal the VAT of the total sum excluding VAT. There may be one or a few pennies difference. The difference is due to VAT rounding and typically an account under incoming and outgoing VAT. |
| VAT settlement | On the account in the chart of accounts to which you transfer the VAT amount due when you settle VAT to SKAT, enter the value 'VAT settlement' in the System account field |
| Warehouse weather regulation | Movement type posting account Adjustment in the inventory journal. The system account is typically applied to a profit and loss account as it represents the expense/revenue. If this system account is not applied to an account in the chart of accounts, the movement type Adjustment in the inventory journal is not posted to the Ledger. The system account has a counter account, which is specified under Lager/Maintenance/Asset groups: in the Accounts group: field Lager, Receipt (Warehouse draft), which is typically the status account representing receipt/issue. IMPORTANT! Read more about the use of inventory management here... |
| Draft for entering losses/winds | Movement type Counting, Profit/Loss, and Obsolete posting account in the inventory journal. The system account is typically applied to a profit and loss account as it represents the expense/revenue. If this system account is not applied to an account in the chart of accounts, the Counting, Profit/Loss, and Obsolete movement type is not posted to the Ledger in the inventory journal. The system account has a counter account, specified under Lager/Maintenance/Merchandise groups: in the group Accounts: field Lager, Receipt (Warehouse draft)field, which is typically the status account that represents the entry/exit. |
| Offsetting of imports subject to VAT | When purchases are posted from, e.g. EU or other types of purchases where VAT is subject to reverse charge, the VAT amount will be both debited and credited to two different VAT accounts, i.e. there are three accounts involved, all marked with a VAT code: 1. The posting account. 2. The actual VAT account in the VAT register, which is typically input or output VAT. 3. Possibly offset account on the VAT table. As a starting point, all transactions that are marked with a VAT amount on the VAT specification/VAT declaration are included, but it is not desired that no. 3 should be included in the VAT report, because it is already included in the form of the information that is on no. 2. Therefore, in order to have it removed from the VAT specification/VAT report, the account specified as the offset account on the VAT code must have system account = 'Offset taxable imports'. |
| Import VAT expense | Used to calculate a percentage amount (currently 25%) of the specified amount, which is posted to Import VAT expense and offset to the counter account of Import VAT account. |
| Error account | The error account is used to narrow down the postings where Uniconta does not have an account to "deliver" the postings to. Must always be created. |
| None | If you want to remove a system account selection, you can select 'None' instead of the selected system account. |