To add a Main Account, select the Branch of the company then click  in the Main Accounts block. If there are already predefined main accounts available, you can click the required one to which you want to add another main account of same or different level; next click  and proceed with the following:

§  The Code field is read-only and auto-generated by the system to give a unique code for each account;

§  If you have selected a certain main account before clicking the Add button, then the Type field will be disabled and set as the selected account’s type. After you save this main account entry you can edit the type as desired. Otherwise, select the main account Type (Balance Sheet or Profit and Loss). If an account type is set to Profit and Loss then it will appear automatically in the Profit and Loss report. If the type is set to Balance Sheet then the account will appear in the Balance Sheet report. You can generate these reports and more in the Final Reports sub-module;

§  If you have selected a certain main account before clicking the Add button, check-in the Add to Same Level checkbox if the new account should be located at the same level of the selected account; otherwise, leave the checkbox empty to locate the new main account to be of a sub-level of the selected one;

§  Enter the Name of the account;

§  In Name 2 you can also add the account name in the second language of the system;

§  Click  to save your work;

§  Click  to close the Main Accounts Entry block.

 

After building the company main accounts, you need now to create the actual detailed accounts that belong to these accounts. Those detailed accounts are the actual recipients of the posted financial transactions throughout the system. Accounts are built only once in the system to be used throughout the different fiscal years with different opening balances every new year.

 

 

Related Topics

Chart of Accounts