Managing the chart of accounts: add, edit, reorder, import, and restore

Steps

1. 1

   Open Finance > Chart of Accounts. There are 31 default accounts with 4-digit codes: 1 assets, 2 liabilities, 3 equity, 4 revenue, 5 COGS, 6 expenses. Default account names may be changed; their code and type are locked because reports read them.

2. 2

   Add account of any type: enter a name and type; the code may be blank (automatic). Add sub-account from the parent's three-dot menu creates a code like 6100.01 (one level only, same type as the parent).

3. 3

   Accounts you created can be renamed and recoded (sub-accounts follow). Deactivate accounts you do not use; an account used by a category mapping must be remapped first. Delete only works for accounts never used.

4. 4

   Move up or Move down arranges the display among accounts of the same kind.

5. 5

   Active accounts can be picked in the Journal immediately and appear in the Profit and Loss or Balance Sheet by type, with no extra setup.

6. 6

   Download CSV (code, name, type, parent) for your accountant. Import CSV (owner) creates new accounts and renames accounts with the same code; the whole file is checked first, so all succeed or nothing changes.

7. 7

   Restore defaults (owner) restores names, order, active status, and category mappings of the default accounts. Accounts you created and journals are not deleted. Every change is recorded permanently in the history.

Common questions