Work with the chart of accounts

The chart of accounts lists every account Books posts to, in a tree. Books creates it for your country during setup; you can add your own accounts, rename them, and merge two accounts that do the same job.

Before you start

• Anyone with View Books and reports can open the chart and the ledgers. Adding, editing and merging need Set up Books and lock periods.

Add or edit an account

1. Open Books → Chart of accounts.
2. Open Add account, or select Edit beside an account.
3. Fill in the Code, Name, Name in other language, Type (Asset, Liability, Equity, Income or Expense) and Parent account.
4. Select Save. Clear Active to stop using an account.

Open an account's ledger

1. Select the account's name in the chart, or an account in a report.
2. Choose the Month, and a Branch or Cost centre if needed, and select Show.
3. Read the Opening balance, each entry with its running Balance, and the Closing balance. Select an entry number to open the journal entry.

Merge two accounts

1. In the chart, select Merge accounts beside the account you no longer want.
2. Choose the Destination account and select Preview transfer. Books shows the balance to move by branch and cost centre.
3. Type a Reason and select Transfer and retire account.

Good to know

• System account marks accounts Books needs. Their code and type are locked and they must stay active.
• The trial balance shows each month's debit and credit movements, not balances at a date. Use the balance sheet for balances: see Run financial reports.
• A merge moves the remaining balance with one entry dated today. Earlier entries stay as they were, and the old account becomes inactive for good.
• Both accounts must be your own accounts of the same type. System accounts, bank and cash accounts, accounts with sub-accounts and accounts with entries dated after today cannot be merged.
• Drafts, recurring templates, asset settings and budgets that use the old account are not changed. Update them yourself.
• A merge needs approval like any other entry when approvals are on: see Posting approvals. There is no undo.
• An account with no balance is retired without an entry.