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Revision as of 11:42, 16 December 2021

Chart of Account

A chart of accounts is a list of the categories used by an organization to classify and distinguish financial assets, liabilities, and transactions

Chart of Account Record List
Adding Chart of Account

1. Click Chart of Account under Maintenance Module

2. Under Chart of Account Menu Screen, Click Add Chart of Account

3. Fill out the necessary fields then click Save.

Field Description Expected Values
1.Account Code •Reference Code for the Account •Alphanumeric
2.Account Name •Name of the Account •Alphanumeric
3.Account Class •Class of the Account •Account Class List provided in Account Class Maintenance Module
4.FS Presentation •Presentation of Financial Statements •Balance Sheet/Income Statement
5.Account Type •Type of Account •Child/Parent/Both
6.Parent Account Title •Parent Account related on the Account •Parent Account Title List
7.Account Nature •Nature of Account if it is Debit or Credit •Debit/Credit

Notes:

  • When creating a Chart of Accounts, account class field is required, make sure to check the Account Class module first when creating a Chart of Accounts
  • Detailed instructions on how to create a Chart of Account, you can visit the Chart of Account Job Aids which can be found here
Editing Chart of Account

1. Click Chart of Account under Maintenance Module

2. Select a Chart of Account that needs to update its details. Click the drop-down arrow then click Edit.

3. Update the necessary fields then click Save.

Field Description Expected Values
1.Account Code •Reference Code for the Account •Alphanumeric
2.Account Name •Name of the Account •Alphanumeric
3.Account Class •Class of the Account •Account Class List provided in Account Class Maintenance Module
4.FS Presentation •Presentation of Financial Statements •Balance Sheet/Income Statement
5.Account Type •Type of Account •Child/Parent/Both
6.Parent Account Title •Parent Account related on the Account •Parent Account Title List
7.Account Nature •Nature of Account if it is Debit or Credit •Debit/Credit


Importing and Exporting Chart of Accounts

1. Under Chart of Account Screen, Click Options

2. Under Options, The user may Export or Import The Record

  • When Exporting the records, the user may also use the filter options through tabs for precise searching and exporting of records.
  • When Importing the records, the user should follow the following steps provided in the Importing Chart of Account Screen such as
    • Downloading the template link provided under Step 1.
    • Filling up the information needed for each columns of the template
    • Uploading the updated Template
Chart of Account Import Details
Field Description Allowed Inputs Input Restrictions Required Field?
1.Account Code Reference Code for the Account *Alphanumeric

*Dash ""-""

*Underscore ""_""

*Up to 15 characters

*Other Special Characters

*Space"

Yes
2.Account Name Name of the Account *Alphanumeric

*Special Characters

*Up to 200 characters Yes
3.Account Class Class of the Account *Account Class List provided in Account Class Maintenance Module *Any inputs not mentioned in the allowed inputs Yes
4.FS Presentation Presentation of Financial Statements *Balance Sheet

*Income Statement

*Any inputs not mentioned in the allowed inputs Yes
5.Account Type Type of Account *Child

*Parent

*Both

*Any inputs not mentioned in the allowed inputs Yes
6.Parent Account Parent Account related on the Account *Existing Chart of Account Record whose Account Type is ""Parent"" or ""Both""

*Account Code of the Parent Class provided in the Chart of Account Maintenance Module

*Any inputs not mentioned in the allowed inputs No
7.Account Nature Nature of Account if it is Debit or Credit *Debit

*Credit

*Any inputs not mentioned in the allowed inputs Yes
Chart of Account Record Option
Actions Available base on Chart of Account Record Status
Status View Edit Deactivate Activate Delete
ACTIVE
INACTIVE

Notes:

  • The list of accounts can be used as long as its status is ACTIVE
  • The user has an option to Edit the details when viewing the record.
  • INACTIVE accounts cannot be used in the transaction but the INACTIVE accounts on the past transactions can still use it.
  • Activating/Deactivating and Deleting of Records can be done in two ways.
    • For single records, the user may use the drop down arrow then the action that need to perform.
    • For multiple records, the user may tick the records then click the action button that need to perform
      • Click the Yes in the confirmation to proceed on the action taken.
Categories:
Modules
Maintenance Maintenance | Chart of Account | Account Class | Account Codes | Proforma | Tax
Financials Accounts Payable | Accounts Receivable | Disbursement Voucher | Journal Voucher | Petty Cash | Payment Voucher | Receipt Voucher
Reports
Financial Statements Balance Sheet | Income Statement