Customize Your Chart of Accounts
Though the application provides a complete Chart of Accounts (COA) for your firm, you may need to add your own accounts, change account types, or create sub-accounts.
Before customizing your COA, we recommend you consult with your accountant.
Add an Account
To add a custom account:
- From the left navigation panel, click Accounting.
- From the Accounting menu, click Chart of Accounts.
- From the toolbar atop the Chart of Accounts screen, click + Add New Account.
- On the Add Account screen, in the Number field, enter an account number. While these are typically four digits long, they can run as long as eight digits. We recommend using a number close in sequence to similar account types. You cannot duplicate an account number.
- In the Account Name field, enter an account name.
- From the Account Type field’s drop-down, select an account type.
Note: This is the most critical COA creation field as it determines how and where your custom COA will be represented on your Accounting Reports. If you are uncertain which type to use for your custom COA, consult your accountant. - Check the Sub-Account of field to create a sub-category of an existing account, if desired.
If you check the box, a drop-down displays accounts already included in this sub-category. - In the Description field, enter a description for reference.
- In the upper right corner, click Save.
Your custom account is ready for use and displays in your COA list.
Edit an Account
To edit an account:
- From the left navigation panel, click Accounting.
- From the Accounting menu, click Chart of Accounts.
- Select the Chart of Account you wish to edit, click on the three dots at the end of the row and from the drop-down, click Edit.
- On the Edit Account screen, make your changes.
- In the upper right corner, click Save.
The system saves your changes.
Delete an Account
Important: If an account has transactions associated with it, you cannot delete it, but you can make it Inactive.
You can rename control accounts (with a key icon), but you cannot delete them.
To delete an account:
- From the left navigation panel, click Accounting.
- From the Accounting menu, click Chart of Accounts.
- Select the Chart of Account you wish to delete, click on the three dots at the end of the row and from the drop-down, click Delete.
- The Delete Account message box reads: Are you sure you want to delete an account?
- Click Delete.
The Accounting screen updates to reflect your deletion.
Change an Account’s Status to Inactive
Changing an account’s status to Inactive ensures no further transactions are posted to it. Once pending transactions clear, you can delete the account.
To change an account’s status to Inactive:
- From the left navigation panel, click Accounting.
- From the Accounting menu, click Chart of Accounts.
- Select the Chart of Account you wish to make inactive, click on the three dots at the end of the row and from the drop-down, click Edit.
- On the Edit Account screen, uncheck the Active box.
- In the upper right corner, click Save.
This updates the account status to Inactive, preventing the posting of additional transactions to it.