 Zero Accounting Software 2023 Settings Profile and General Settings Get ready because it's time to become an Accounting Hero with Zero 2023 Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a U2 page we also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable so once again click the link below for a free month membership to our website and all the content on it here we are in our custom zero home page going into the new company file we started up in a prior presentation get great guitars last time we started up the company file took a brief look at the general ledger and then some navigation tools now we want to take a look at the settings that will be in place by default from zero when we start up the new company file so if we go to the icon on the upper right we have the profile settings as well as the account settings so if you want to go into the general account settings here your password and so on that is here the profile settings if I take a brief look at that also allows you to join the zero community and share your knowledge with others so you can turn on your public profile to become listed in our user directory and become part of our growing community where you can ask and give advice to like minded zero users you can also help improve zero by suggesting and voting on new features so if you want to participate in that you can do so I'm going to go back up top where it says back to the get great guitars our actual company file the other major location for the settings are going to be in the drop down up top and then we have our settings we took a brief look at these in the prior presentation they're broken out into the two primary categories of general and features this time we want to look at the general next time we'll probably go into the features in more detail so the features overview we've got the organization details address logo and basic financial information users add remove or modify users of this organization you've got your currencies manage the currencies your business uses connected apps add and manage third party connections to zero and subscription and billing change plan and update credit card details managed by yourself whoever's signed up to the zero let's go into a few of these in more detail so let's go to the first one organization details so up top we have include some of your information on the online invoices you send you can learn more about that here if you so choose you can choose which details below so we have the display name get great guitars we've got the legal trade name if you have a different name you can use a you could use a different name you've got the logo note that the invoice is one of those forms of course that is going to be going out to customers usually in the form of an email and therefore customizing the invoice not just for internal accounting purposes but also for external purposes to make it look nice and whatnot is something you might want to dive into in a little bit more detail so we're going to be mainly in this practice problem focusing in on the impact of the invoice form which it does have as all the forms general do to create the financial statements balance sheet and the income statement and related reports what is your line of business and then you've got your organization type so within the organized exempt organization partnership private foundation and so on EIN number so this is going to be a number that if you're in the United States you would get that from the IRS typically it's an employer identification number in the United States and you don't just need it if you have employees if you're a sole proprietor for example this is kind of like your businesses social security number which you still might have to give out if you have to give it to like someone who needs the 1099 you you don't want to have to give them your social security number you'd like to give them and you have to give them something and therefore even if you don't have employees you might have an EIN number it's fairly easy to sign up for if you're a U.S. business and you can get that the TIN number EIN social security organization description if you want to add the details there and then the postal address so I've populated some of this stuff here so I just put sole proprietorship for our business I added a general just a number for an EIN number I'm not going to add an organization description and then on the address we've got our location so I'm going to say that we're in the Beverly Hills 252 South Camden Drive, Beverly Hills and then for the physical address I'm going to just say it's the same as the postal address and then the telephone number we've got the country so I'm going to for me I'm going to put United States has a 1 and then 555, 555 or something 575 something like that and then our email and our website and then you can add fields if you so choose mobile, fax, DDI, Skype, LinkedIn, Twitter Facebook, Google and so on let's go ahead and save that now those general organization settings note could be important because you might populate those on forms such as invoices might need the address if you have shipping stuff then you might be pulling the addresses in general from the general information the EIN might be needed to give to people sometimes for like contractors or if you're a contractor someone else or something like that although you don't use that all the time and then if you have if you're in the United States then the taxes for sales tax on the state level might be determined in terms of your location often times could help you to determine whether you're not you're subject to the sales tax which is like a uses tax in the United States on the state level instead of a federal level alright let's go back to the settings here let's take a look at the users so the users are the people of course using the software so when you first set up the software you're just going to have yourself whoever set it up generally it's going to be a user of the software we might have then an admin user and then you can add more users now the great thing about zero is I don't believe there's a limit to the users which if you look at other softwares that are online softwares like a QuickBooks that's usually one of the bottlenecking factors the number of users that possibly could be logged in so we could then invite another user if we so choose so let's go ahead and do that so I'm going to add Jane Smith here and then it has the options down below give them access to now obviously you're now thinking we're thinking we've got multiple people that are going to be using the zero software to help with our accounting needs and then clearly once we have multiple people that are working in an accounting system we'll usually run into the idea that we want to have some restrictions to what certain people can do within the accounting system so then we have what things can they access we have the projects here allow this user to access projects there may be per active user costs now the projects are usually something that's going to be more specialized towards particular type of industries possibly like a job cost type of system so if you go into the projects you've got how much access do they need you have limited this limit rule is read only but their own time entries can be added and edited it excludes all financial information the standard this rule suits staff who run projects need to see staff and project cost information and then the admin this rule has the same access to projects as standard and includes staff and project cost information so I'm going to uncheck that one and then say I'm not going to use projects let's say and I'm going to go down here we might touch in on how projects work but that's not our main focus let's go down here to business and accounting how much access do they need let's go through the different access levels here invoice only this limited role suits people who create quotes and invoices or enter bills but don't need access to bank accounts or reports so they're limited on the invoicing on the sales side of things so sales and purchases only create drafts sales quoting and invoicing purchases purchase orders and bills and then approve and pay sales and purchases and then we have the bank account and balances bank account admin can add and edit bank account details held for customer and suppliers you've got your reports finished reports set lock dates edit settings and so on and then if I go to the standard the sales and purchases so you've got the bank account and balances reconcile and edit statement lines reports view and rerun reports and then the edit edit settings manager let's go to the advisor so sales and purchases now checked off bank account and balances bank admin you have the capacity to check that off if you so choose and so on and then if I go to read only then we're at we're at sales and purchase read only all these are set to read only and then we can check these off we can't check these off so let's say we're going to go to standard I'll say standard for us and say cancel add a person add a personal message and then I'm going to send invitation so you could add a personal message I'm going to go ahead and send the invite here's what it looks like on the other end so we'll go ahead and and say okay let's get access to it get great guitars would like to access their account at zero get great guitars users okay accept the invitation and James like I'm in I'm in and boom hi let's get up let's get set up use this dashboard to get to get an instant review of your business and so on and so forth so James ready to roll and then back on our admin and I just refreshed the screen up top and so now we've got Jane over here we've got the three dots on this on the side which we can change permissions or delete Jane if we so choose so pretty easy process and like I say I think they say that you there's no limit which is still kind of shocking to me because like I say that's usually one of the things that causes people problems and some other you know online softwares that's one of the things that oftentimes online softwares limit is the number of people that can have access so pretty pretty nice pretty good cool with zero on that front alright so let's go back into our settings again and so now we've got the currencies let's take a quick look at the currencies so so you can send invoices reconcile accounts and get paid in over one hundred and sixty different currencies and our video learn how zero updates rates automatically and calculates gains and losses and so you can get into that more detail now currencies can be a little bit confusing when you first kind of jumping in and thinking about how the currencies are going to be working because like if you're in a single currency like the US dollar or something like that and if all your transactions of course are in US dollars that makes things easier but if you're purchasing things and you're using different currencies as you're purchasing then of course you have these exchange issues so just as a general rule the idea would be that your financial statements are going to be in one currency we can't have you're not going to generally have multiple currencies on your balance sheet and income statement you have to have one measuring set like the metric system in measuring other stuff you can have multiple rulers and then meters at the same time and you have to have one measuring system but if you want to pay someone in other currencies that means that you're going to have these gains and losses for the currency exchanges so you can do that and zero helps you with those kinds of transactions with those basically exchanges as the rates change so generally the idea would be that you're going to have your set currency whatever that is in our case the US dollar and then you could set up adding other currencies where you might make transactions that you're going to be paying in other currencies and then you'll have to deal with the fact that if you have like an accounts receivable transaction that you are going to be paying a separate currency at the point in time that you put the accounts receivable on the book the exchange rate will be different than the point in time that you actually pay the or receive the money from the accounts receivable in this case at some future point in time and again there's going to be basically a currency kind of gain or loss situation between those those two time frames and so zeros can help you to set up that system once you kind of get the idea of it it's not too bad to deal with and it's quite nice that more and more the systems zero here has access to the appropriate exchange rates and what not to be able to calculate these items as you do the different as you pay things in different currencies so we might we might do a separate whole kind of course on that another section on that because I think people especially people outside the United States where that which I think zero has a good market in is use the may use these currency exchanges more often so we might like dive into that in the future it's a pretty interesting topic and it can be a little confusing at first but so we might dive into that later but not in this practice problem so connect apps so you can add third party connections to zero so if we go into the apps this is where we can be adding apps the major apps they have here or simplify shift work with staff scheduling you've got the automatically sync your Amazon eBay Shopify this is another big area these days is to have the Shopify and Amazon stores and what not and then to be able to link them to the online softwares and zero is one of the big two for that process obviously zero and quickbooks online there's integrated apps to help you to manage that because often times there's inventory involved and what not there's grouping of payments that we have to group together to pull that information into the system so there's different ways to kind of deal with those online shops and so that's a so that's another area that I'd love to go into in more detail which we might do in another course or section but not in this one then we've got as an ecosystem staff picks apps and small business app for your two thousand twenty two finance to send seven core is the number one choice for businesses that want to manage all products okay and then the last one if I go back into my settings again is subscription and billing and we'll get into the features in a future presentation so that takes you to your subscription and billing and then we go to manage subscription if we so choose and currently we're in a trial period at this point in time so we could then buy it and we'd have a different subscription so in a future presentations will I'm going to go back to the get great guitars will dive into the other settings on the right which are the features settings and then we'll dive into actually doing some data input here