Chart of Accounts Interface

Changes multiple records. The options are:

• Rebuild Accounting Report: Resets the financial reports and recreates them to include the new accounts.
• Order Alphabetically: Sorts the accounts alphabetically within their categories or main accounts.
• Generate Account Codes: Generates account numbers. Replaces all the current account codes, including codes you entered yourself.
• Generate Account Lookups: Generates account lookups for all the lowest-level accounts. Overwrites all the existing lookups. These lookups can be edited. Lookup lists are used in transactions to help you find the account.
• Refresh Lookups: Updates all the lookup lists.

Creates the main categories (e.g. Sales, Assets, Expenses) needed for a Chart of Accounts.

Available only if no accounts exist yet.

Switches between the Grid View (spreadsheet format) and the Tree View (accounts nested under their financial statements).

The + and – icons expand or collapse the Tree View.

The account’s lookup name (that is, the name entered when using the account in a transaction).

⚠️ Warning: If no lookup is entered, the account cannot be selected when creating transactions.

Select the account’s default:

• Accrual (VAT Exc): A general accrual account. Appears on the Financial Reporting Dashboard. Can be selected for multiple accounts.
• Accrual (VAT Inc): Appears on the Financial Reporting Dashboard. Can be selected for multiple accounts.
• Bank: Enables currency selection, bank reconciliations and bank imports. Can be selected for multiple accounts.
• Bank & Accrual: Lets you capture credit card receipts in two parts. Can be selected for multiple accounts.
• Payables: Totals all the supplier account balances for display on financial reports. Can be selected for one account only.
• Receivables: Totals all the customer account balances for display on financial reports. Can be selected for one account only.
• Retained Income: Records the profit or loss earned. Can be selected for one account only.
• VAT Control: Records the VAT portion of transactions and payments or refunds to the tax authorities. Can be selected for one account only.
• WHT Control: Records the taxes withheld from suppliers or withheld by customers. Can be selected for multiple accounts.

The account’s lookup name (that is, the name entered when using the account in a transaction).

⚠️ Warning: If no lookup is entered, the account cannot be selected when creating transactions.

Select the account’s default:

• Accrual (VAT Exc): A general accrual account. Appears on the Financial Reporting Dashboard. Can be selected for multiple accounts.
• Accrual (VAT Inc): Appears on the Financial Reporting Dashboard. Can be selected for multiple accounts.
• Bank: Enables currency selection, bank reconciliations and bank imports. Can be selected for multiple accounts.
• Bank & Accrual: Lets you capture credit card receipts in two parts. Can be selected for multiple accounts.
• Payables: Totals all the supplier account balances for display on financial reports. Can be selected for one account only.
• Receivables: Totals all the customer account balances for display on financial reports. Can be selected for one account only.
• Retained Income: Records the profit or loss earned. Can be selected for one account only.
• VAT Control: Records the VAT portion of transactions and payments or refunds to the tax authorities. Can be selected for one account only.
• WHT Control: Records the taxes withheld from suppliers or withheld by customers. Can be selected for multiple accounts.

Select the bank profile of the bank account.

For the bank import to work, the account number must be part of the Lookup in the same format as on the bank statement (see the screenshot above).

A context menu (also opened by right-clicking an entry). The options differ depending on whether you clicked a Heading, an account on the Statement of Profit/Loss, or an account on the Statement of Financial Position.

• Statement of Profit/Loss:
  • Add Section > Revenue: Adds another Revenue section.
  • Add Section > Expense: Adds another Expense section.
  • Add Summary: Adds a subtotal. A subtotal automatically adds and subtracts all the accounts above it.
  • Generate Account Lookup: Generates an editable lookup list for that account only, overwriting its existing lookup. Lookup lists are limited to the final accounts. They are required, but you can also enter them manually.
  • Nest Under: Creates the account as a sub-account of the selected account.
    Applies only to accounts on the lowest levels. Once the account is used in a transaction, its nesting cannot be changed.
  • Move Up: Moves the account one line higher.
  • Move Down: Moves the account one line lower.
  • Delete: Deletes the account if it has no entries.
• Statement of Financial Position:
  • Add Section > Asset: Adds another Asset section (e.g. Fixed Assets or Current Assets).
  • Add Section > Liability: Adds another Liability section (e.g. Long-term Liabilities or Current Liabilities).
  • Add Section > Equity: Adds another Equity section (e.g. Ordinary Shareholding or Preference Shareholding).
  • Add Summary: Adds a subtotal. It automatically adds and subtracts all the accounts above it.
  • Add Account: Adds an account to the selected section or account.
  • Generate Account Lookup: Generates a lookup list only for that account. Overwrites the account’s existing lookup. Lookup lists should be limited to the transaction accounts (not the headings). They can be generated automatically, edited or entered manually.
  • Nest Under: Creates the account as a sub-account of the selected account. Once the account is used in a transaction, its nesting cannot be changed.
  • Move Up: Moves the account one line higher.
  • Move Down: Moves the account one line lower.
  • Delete: Deletes the account if it has no entries.