The Chart of Accounts categorizes all sales and expense transactions recorded in the system. This ensures accurate financial organization and management, enabling the system to generate essential financial reports like the Balance Sheet and Income Statement when needed.
The system comes with a predefined list of ledger accounts, which you can customize by adding new accounts or updating existing ones as needed.
Tip
As transactions are recorded under ledger accounts, the system will accumulate and list all associated transactions when the ledger account is viewed in read mode.
Create a ledger account
- Go to Accounting.
- In the left-side panel, select Chart of Accounts.
- Click Create ledger account.
- Enter the account name, select the account type and category, and enter an optional account code.
- Click Save.
Edit a ledger account
- Go to Accounting.
- In the left-side panel, select Chart of Accounts.
- Select a ledger account from the list.
- Click Edit ledger account.
- Make the necessary changes, then click Save.
Delete a ledger account
Important
The system does not allow the deletion of ledger accounts that have been used to record transactions.
- Go to Accounting.
- In the left-side panel, select Chart of Accounts.
- Select an inactive ledger account from the list.
- Note: The Delete option is only available for inactive ledger accounts.
- Click Delete ledger account.
- Confirm by clicking Delete.
