Australia Account setup

[Mary Smith]

Hi, I like to know how to setup an accounting system for this scenario, we called 'One Stop Shop' which have a number of customers, each of them will be invoiced monthly with different amounts for their monthly bills such as Telephone bill, Gas bill, Electric bill. The invoiced amount is fixed, however One Stop Shop may have to pay more than the client's bill or may be less. Additional to the bills, customers have to pay certain fee to One Stop Shop. I would like to know how the chart of account should be.

 

[Fidget]

There are no hard rules on how a chart of accounts should be set up. The person in pole position to formulate one is the person who knows the business operation and how detailed reporting needs to be, and therefore which accounts need to be set up for what.