Intangible Assets: How to account for them

[Matt-Taylor]

HI There,

I'm new to this forum, so I'm sorry if this has been up here before.

I want to know if there is anyway of editing the Chart of Accounts in Sage 50, so there will be a separate heading for "Intangible Assets" - exactly like there is for "Fixed Assets". I've spent a few hours trying to find a way and I can't seem to do it.

Thanks for your help.
Matt.

[brucedenney]

There is no way to add Sections to the Balance sheet, It is limited to 5 sections and only section 2 and 3 have the ability to have "floating accounts" that move between asset and liability.

Within the Fixed Assets Section, you could change the name to "Assets"

And then have Sub headings for Fixed assets and Intangibles, however, they would be totalled together as "Assets"

If you need a custom P&L then you can make one yourself in Excel (or get me to do it).

When I was younger and I worked in a practice, it was my bread and butter job when I was younger to make custom charts of accounts, the partners loved to create custom metrics, sales per square foot of shop space as well as graphs, projections and lots of other stuff that clients would pay big money for. It was a good time, gave me a lot of grounding.