How To Create, Update and Delete the Chart of Accounts

Create a new G/L Account in Chart of Accounts

Path: Financial > Chart of Accounts

  1. Choose the drawer to which you want to add the new account and highlight on the parent account that you wanted it to be located
  2. Click on Add icon in the toolbar or CTRL + A
  3. Specify whether it is Title or Active Account
  4. Enter a unique code in the G/L Account Code of up to 15 characters
  5. Enter the G/L Account Name of up to 100 Characters
  6. Specify currency as "All Currencies" except for Cash Accounts.
  7. Select  ‘Account Type’ correctly. Example, balance sheet accounts should select ‘Other’, Profit and loss account should select either ‘Expenditure’ or ‘Sales’ type.
  8. Tick if G/L Account is a control Account
  9. Tick if G/L Account is a Cash Account
  10. Click Add

Edit Chart of Account

Path:  Financial > Edit Chart of Accounts

Use this function to make changes to a chart of accounts, create new accounts, and change and edit existing accounts. Use this window to specify selection criteria for editing the chart of accounts.
  1. Select the drawer(s) you want to view and edit. After defining criteria, you can view the results in the Edit Chart of Accounts Window.
  2. To move G/L accounts to the proper drawer or location, define the correct parent article and the location of the preferred drawer in the G/L Account Location.

Delete G/L Accounts

‑ No transactions have been posted to the account, including the opening balance.
‑ The opening balance has not been posted to the account.
‑ The account is not defined as a control account.
‑ The account is not included in G/L account determination.
  1. Select the account you want to delete.
  2. Right-click, select Advanced then Delete Account
  3. Click Update

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