Chart of Accounts can be accessed from the sidebar menu by selecting the options Accounting >Settings>Chart of Accounts.
In order to perform any of the basic maintenance tasks you will need to be assigned the Create, Update, and Delete permissions for the Chart of Accounts entity.
For more on how to Sort, Select Columns, Change Records Per Page, and Export, click here.
At the top of the screen are five filters that list the accounts by: Type, Status, Show Banks Only, Show Cost Only, and Show Clearing Only. The Type filter is a dropdown that filters the list of accounts by their types: Asset, Equity, Expense, Liability, and Revenue. The Active Status filter is a dropdown selector that filters the list of accounts by their active status. The master search field will search for matches in any of the fields listed. The Show Banks Only filter is a checkbox that lists the accounts that are only bank accounts. The Show Cost Only filter is a checkbox that that lists an Expense account that is a Cost of Goods Sold (COGS). These are marked with a green label the grid. The Show Clearing Only filter is a checkbox that lists only clearing accounts in the grid. They’re marked by a blue label in the grid.
If you click on the Upload button in the upper left hand of the screen, it brings you to an Import GL Accounts page. Here you can download the template, fill it out, and upload the accounts all at once.
Clicking on an account number in the grid opens a popup allowing you to make changes to the name, type, sub-type, mark if it’s a bank account, mark if it’s a clearing account, and override the facility. If you select Asset or Liability as the account type, you’ll have a second dropdown appear that allows to add sub-type: Current, Fixed, Other, or None. This selection controls where the account will be displayed on your financial statements. You also have two toggles that are labeled Is Bank Account and Is Clearing. You can use these to indicate if the account is a Clearing Account, Bank Account, or if it’s a Cost Account. After your changes are complete click the Confirm button to save your changes and return to Chart of Accounts screen.
Select the checkboxes next to the accounts you wish to act upon. A dropdown menu will appear along with the Execute button. Select the option to “Activate” or “Deactivate” the selected categories and click the Execute button to save the change.
Click on the + Insert button to create a new account. A popup will open prompting you for the account number, name, type, sub-type, if the account is a bank account, cost account, or clearing account, and a facility to override. Complete the fields and click the Confirm button to add the account to the database and return to the Chart of Accounts screen.