The Chart of Accounts is an adaptable listing of all accounts used in the general ledger. The system uses the accounts in the chart to organize and aggregate posting transactions for reporting to GAAP standards.
To access Chart of Accounts, go to:
ACCOUNTING > Chart of Accounts
Design and Import your Chart of Accounts
Setup Chart of Accounts
You can design and import your Chart of Accounts in the import template. You can download the template from the Salesorder platform.
Setup>Import Data>Accounts (template)
You can add and configure account types (income, asset, etc) and configure control and sub-account (parent-child) relationships within the chart of accounts. Each account can be assigned a:
- Nominal Code (see below)
- Cash flow category (operating, finance, investment)
- 1099 category
- Classification – an arbitrary class for building reports
- Currency – Balance sheet accounts only
To configure or add an account manually, go to:
ACCOUNTING > Chart of Accounts > + (new account)
These settings are the fundamental foundation of your accounting. You should review ALL of these settings before you commence any accounting workflows.
Account configuration overview
|Current Status||Indicates the closed/open status of the Accounts.|
|Display Nominal Codes||Displays the nominal codes in the Chart of Accounts List and Reports.|
|Include all account types in Expense Selection||This control exposes the entire chart of accounts in the Expense selection list on ALL Documents. Extreme caution is advised.|
|Enable Document history/audit trail||Every Document has an Action > Show History. It is advisable this option is checked. See Using Document history.|
Accounts can be assigned a nominal code (account number). These are usually numeric, but can also be alphabetic or alphanumeric.
To display nominal codes, go to :
SETUP > Configuration > Accounting section > Accounts > General section > Display nominal codes
Nominal codes can be manually added or imported.
To configure nominal codes manually, go to:
ACCOUNTING > Chart of Accounts > + (new account) > Select an Account type > Nominal Code
To import nominal codes, go to:
SETUP > Import data > Accounts
Here you can set the format for numbers and number of decimal places. The system will support up to four decimal places.
This setting affects all Documents where the discount column is displayed and used.
The settings are:
- Use Total Pre-Tax amount (default)
- Use Unit Price/Cost
This is the minimum set of accounts the system needs to operate. This contains default account for key functions:
- Stock adjustments
- Pending item receipts
- Currency gains and losses
- Customer and supplier payment discounts
To configure the accounts, go to:
SETUP > Configuration > Accounting Section > Accounts (Setup default accounts)