Manage the chart of accounts and account groups

Before you start

The Chart of Accounts is the list of every account your company posts to. Your company already has the UAE chart of accounts, so most of the time you only add an account when you want to track a cost or income more closely. Accounts marked with a padlock are used by the system and are protected.

Steps

1. Open Accounting > Accounting > Chart of Accounts. Each account has a Code, a Type, a Group, a Reconcile tick for accounts that are matched against statements, and a padlock under Protection for accounts the system uses.
2. Type a name or number in the search box and press Enter to find an account. The box already carries the Filter: Active chip, so archived accounts stay out of the way.
3. To add one, click New Account. Type an Account Code that is not used yet (for example 6350) and an Account Name (for example Staff Training and Development).
4. Choose the Account Type / Group. It decides where the account appears in the reports - an Expense account goes to the Profit and Loss, for example. Leave Allow reconciliation off unless it is a bank, cash, receivable or payable account.
5. Click Save. The account is active at once and you can pick it on bills, cash purchases and journal entries.
6. Open Accounting > Accounting > Account Groups to see the groups. Each group covers a Code range (Assets 1000 - 1999, Liabilities 2000 - 2999, and so on). An account falls into the group whose range matches its code.

What happens next

Use the new account when you record a vendor bill or a manual journal entry. To see which journals post to which accounts, read Journals.