Chart of accounts
This is where you create or maintain your company’s chart of accounts. It is possible to import charts of accounts from other accounting systems as long as they are in a comma-delimited (CSV) format.
How to import your own Chart of Accounts
To add an account:
- Select the menu option Chart of accounts from the Settings tab
- Click on New account from the centre section of your screen
- Edit the field details
- Click OK
| Field | Action |
|---|---|
| No. | The desired account number. Maximum eight characters, numeric only |
| Name | The desired account name |
| Type | Profit and loss: General ledger account Balance sheet: Balance sheet account Total from (sum account)Sum accounts are used to calculate the sum of an interval of accounts. This sum account must be the last of the interval of accounts.Total intervals (sum account)Sum accounts are used to calculate the sum of an interval of accounts. This sum account can be anywhere in relation to the interval of accounts Heading or Heading break‘Heading’ accounts functions as a title in the chart of accounts. ‘Heading break’ accounts function as sub-titles. Both are placed at the beginning of an interval of accounts. |
| VAT | Select an existing or create a new VAT code |
| Total from | Select or enter the first account number in the interval of the sum account. The last account in the interval is the sum account itself.Total intervals: Type in the first and last accounts of the interval(s). E.g., “1000..4990;6100..6198” will sum accounts 1000 to 4990 and 6100 to 6198. |
| Contra account | This contra account will be suggested when the account is selected. |
| Key figure code | Select where in the key figure report to include this general ledger account. Read more about Key Figure report |
| Opening account | In connection with the year-end closing, the balance of the account is transferred to the opening account selected here. |
| D/C | Define whether ‘debit’ or ‘credit’ should be suggested when entries are made on the account in the day book. |
| Access | Open or bar an account to entries. When an account is barred, it is not possible to make entries on the account. It is possible to reopen accounts as desired. |
| Blog direct entries | Tick this box to avoid direct entries into the account. |
Show/Hide barred accounts
The chart of accounts hides barred accounts by default. This provides you with a better overview since you only see accounts which are not barred, and are presumably the most relevant. Learn how to show/hide barred accounts.
Delete account interval
Here you have the opportunity to delete multiple accounts for a given interval of your profit and loss balance sheets.
This way you can customize the chart of accounts so it only includes the specific accounts needed.
Obviously, this is only possible for accounts without any transactions posted.
How to delete an account interval:
- Click the settings tab
- Select the Chart of accounts in the left menu bar
- Click the 'Delete account interval'
- select the balance sheets you wish to delete
Import of Budget figures
The following video shows you how to import your budgets direct from excel :