How to create a new general ledger account

This guide will document the steps required in creating a new basic GL account, such as an office expense. As account specifics will differ individually, it may be best to speak to your accountant before performing this task.

1. In either the Accounts Payable or Accounts Receivable tab, click Account Maintenance.
   
   

   

   
   

2. Click the top Category that the account will fall under. (Asset, Liability, Expense etc)

3. Click Add.
   
   

   

   
   
   

4. Enter in details as required.
   
   

Account Details Explained

Account ID: This section is automatically filled in for you, you won't be able to type in this field

Account Code: An individual number assigned to the account, which will also determine where in the list the account sits

Account Name: A brief description of the account. (Maximum of 15 characters)

Account Description: A longer description of the account

Account Group: Only select if this is a bank account

Classification: The type of account. (Asset, Liability etc)

Inactive Date: Enter a date if this account is no longer to be used

Export Account Code: This is used for financial export reporting. (Usually used for franchise dealers)

Reference Required: Tick if a reference is required when using this account

Reconcilable: Tick if you would like to be able to reconcile this account

Client Required: Tick if a client is mandatory when using this account

Hidden: Tick if you would like this account to not appear in your account maintenance list

GST Allowed: Tick if GST is allowed when using this account