Chart Of Account

Create And Maintain Chart Of Account in Accountant Tools

go to Accountant Tools ==> Chart Of Account ==> Import Chart of Account From Cloud.
Modify the imported Chart of Account as you like and save it with your prefer name.
You can add and keep a list of chart account here.
You can then select a chart of account from here to install to any of your company.
Be sure install to a new company without any transaction, otherwise you may lose your data.
Install new chart of account will delete your existing chart of account.

Go to General Ledger ==> Maintain Chart Of Account.
This chart of account was created when you create this Company.
You can replace this chart of account by installing a new chart of account from Accountant Tools.
This Chart of account is use for this company only.

Double click on the account and a dialog will pop up for you to edit the account.
Select an account and right hand click on it's description will pop up a Context Menu for you to :
- Cut/Copy/Paste an account
- Edit the account
- Delete the account
- New Account : To create a new account, same parent with this account
- New Sub Account : To create a sub account under this account
- Rename : edit the account.

Right click Current Asset Main Folder in the chart of account.
Left click New Sub Account From the pop up Context Menu.
The Current Asset Dialog will pop up.
Enter Account Code and description.
Set this account as Bank Account / Cash Account by ticking the check box under the Special Account Type.
Click the save button to save it.

Right click Current Asset Main Folder in the chart of account.
Left click New Sub Account From the pop up Context Menu.
The Current Asset Dialog will pop up.
Enter Account Code and description.
Set this account as Balance Stock by ticking the Balance Stock check box under the Special Account Type.
Click the save button to save it.

Right click Cost of Goods Sold Main Folder in the chart of account.
Left click New Sub Account From the pop up Context Menu.
The Cost of Goods Sold Dialog will pop up.
Enter Account Code and description.
Set this account as Closing Stock / Opening Stock by ticking the check box under the Special Account Type.
Click the save button to save it.

All Customer account must group under a Customer Control Account.
Right click Current Asset Main Folder in the chart of account.
Left click New Sub Account From the pop up Context Menu.
The Current Asset Dialog will pop up.
Enter Account Code and description.
Set this account as Customer Control Account by ticking the check box under the Special Account Type.
Click the save button to save it.

All Supplier Account must group under a Supplier Control Account.
Right click Current Liability Main Folder in the chart of account.
Left click New Sub Account From the pop up Context Menu.
The Current Liability Dialog will pop up.
Enter Account Code and description.
Set this account as Supplier Control Account by ticking the check box under the Special Account Type.
Click the save button to save it.