Chart of Accounts

Chart of Accounts

The Chart of Accounts serves as a hierarchical structure that helps organize and categorize financial transactions in a company's accounting system. When filling out the required primary information for each account in the chart, there are a few important considerations:

When filling out the required primary information for each account in the chart, there are a few important considerations: Subhead, Account Type, Group Ledger. This helps maintain clarity and consistency in recording and tracking financial transactions within an organization.

To add for the Chart of accounts, Go to the Account >> Setup >> Chart of account.

Press Alt +2 to add the Chart of accounts. You will see the following screen and fill up the primary information. Press Ctrl +S to save the information.

While filling up the required primary information. 

Chart of account should be kept under the Sub head. You can also add the Sub head by clicking the plus sign.

While adding the chart of account, you should be fully aware about the account type (client account, debtors, creditors, sub ledger).

 As well as group ledger (other, bank and cash) should be well defined.

To edit the Chart of account, Go to account>> Setup >>  Chart of account.

From the list, click on an option icon and click on a change button. You will see item details list in the following screen, Press the edit icon  and update all the required fields. Then, press Ctrl+S to save the information.

You can view the added information and list by pressing Alt + 1 and filter the result as per the requirements.