Chart of Accounts

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The Chart of Accounts is ordinarily created from via the Financial Entity Wizard  based on the Template selected, which offers those accounts aligned to the particular Account Template for inclusion for the particular Entity.

 

To view a chart of accounts select the entity from the drop down list.  Note this list will always default to the current default entity.  The main accounts are displayed on the left hand side.  Select a main account to view the sub accounts under it.

 

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Accounts can be opened 'manually' for an entity, or additional account maintenance, i.e. those available for an Entity, can be updated using the screen above.   To add a new account simply click on the Add button.

 

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Note:   By selecting the Bank checkbox, the account is set to be a 'reconcilable' Bank account. See Bank Reconciliation

 

Accounts created and administered here complete the 6 digit account numbers.  (1-3 representing the type of account, 4-6 the sub account).   The three digit sub account code is normally used, however, up to 10 digits are available for the sub account code.

 

Icons down the left hand side of the Chart of Accounts window follow the standard set, with the addition of the Control Account button.  The Control Account Icon enables the user to change the automatically generated default control accounts for each Acc Code & Sub Acc Code  The Control Accounts are used as a series of default accounts e. g. default Debtors, Default Creditors and default Retained earnings.  

 

In addition to the standard buttons down the left hand side of the window, the Wizard button enables the user to create a new sub account for a selection of client's.  

 

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