Create & Edit Chart of Accounts

Set up and manage your financial account structure — with full control over account codes, types, parent relationships, and operational status.

🔐 Access Control

• Only Admin users or staff with accounting permissions can create or edit chart of accounts
• From the Dashboard, use the side menu to navigate: Accounting → Banking → Chart of Accounts

✏️ Create a New Account

Click + to open the create form.

1️⃣ Required Fields

• Name*: Internal label for the account (e.g. Petty Cash, Sales Revenue)
• Code*: Unique identifier (e.g. 1065, 4000)
• Account Type*: Select from standard classifications:
  • Current Asset, Inventory Asset, Non-current Asset
  • Current Liabilities, Long Term Liabilities
  • Sales Revenue, Other Revenue, COGS
  • Share Capital, Retained Earnings, Owner’s Equity

2️⃣ Optional Fields

• Is Enabled: Toggle to activate or deactivate the account
• Description: Add notes for internal clarity or audit context

Click Create to save the account. It will now be available in banking, purchases, income, and expense workflows.

🛠️ Edit an Existing Account

From the Manage Chart of Accounts table:

• Locate the account entry
• Click the Edit icon under the Action column
• Update any field (e.g. name, code, type, description)
• Click Update to save changes

📅 Date Filter

Use the Start Date and End Date filters to view account balances over a specific period. This supports reconciliation, reporting, and audit prep.

✅ Best Practices

• Use consistent naming and coding for audit clarity
• Group accounts under correct types for accurate financial statements
• Disable unused accounts instead of deleting them
• Link accounts to banking, income, and expense modules for traceability
• Review chart structure quarterly to align with operational changes
• Use sector-fit naming (e.g. Care Home Supplies, Cleaning Revenue, Freight Clearing Account)