The Chart of Accounts is where accounts are created, edited, reordered, and archived throughout the fiscal year.
These accounts will need to be created and active in order to start recording and tracking transactions and totals.
From the Chart of Accounts view, you will be able to start adding accounts by clicking the "Add to chart" link or clicking any of the available action buttons to edit or reorganize your existing accounts.
For more information on adding certain types of accounts, please visit our articles on those specific accounts:
- Adding an Asset Account
- Adding a Liability account
- Adding an Equity account
- Adding an Equity-Backed Fund (EBF)
- Adding an Income account
- Adding an Expense account
The Chart of Accounts view also has the ability to create nesting accounts to organize and total similar accounts. These organizational accounts are called parent accounts and can hold multiple layers of accounts within the same type.
For more information on parent accounts, please visit our article on this new concept.