How do I set up chart of accounts?

Chart of accounts can be imported from a previous system, or can be set up as new.

To set this up as new, go to Finance > Nominal Ledger > Setup.

On this page, you will see details of the current financial year that the system is set to.
The buttons shown below this are dependent on the setup requested during your implementation, but the one you need to set up your chart of accounts is 'Set-up nominal categories'.
 

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Set-up nominal categories.

Clicking this button will give you a list of headings. These will include:

• Sales
• Purchases
• Direct Expenses
• Overheads
• Fixed Assets
• Current Assets
• Current Liabilities
• Long Term Liabilities
• Capital & Reserve

If your existing accounting data has been imported, you will also see a number of sub categories under each of these headings.

To add a new nominal category, click ‘Add…’under the relevant heading, give your new category a name and click Save.
If no nominal codes have been linked to a nominal category, you will see a [delete] option next to it. Otherwise, only the [edit] option will show.
To re-name or move a category to a new heading, click Edit and make any changes before saving.
 

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Control Accounts.

This enables you to set which nominal code is associated with each function. Defaults will be set when the system is created, but these can be amended at any time as required.

There are some that have nothing set by default, for example Postponed Activities Recognition - hovering over the (i) icon will explain the difference between this being set and not set.