Setting up a chart of accounts
Multi-company only. The Intercompany Due From, Due To, and Other Income accounts appear at the bottom of the chart. You can enter descriptions, IDs, or account groups for these accounts; the other fields are unavailable.
To set up a chart of accounts
- From the > Setup
menu, click Company > Financials >
Chart of Accounts.
- Place the cursor one row above where you want the new account.
Note: |
Do not sort the list before setting up a new account. If you do, the account may not appear under the current row until you close and reopen the account list.
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- Click
the New button.
- Leave the status as
Active so the account is available for use.
- Type
a description and account ID (number) for the account.
- For
the account type The financial category where an account appears in your financial reports. Examples of account types are Current Asset, Current Liability, Expense, and Income.,
select the category where you want the account to appear on financial
reports.
Note: |
The account you selected in the > Setup > Company >
Preferences > Balance Sheet Accounts tab > Retained Earnings field
must have an account type of Retained Earnings for your financial reports
to print correctly.
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- Select
an account group. An subtotals or summarizes information for a group of accounts on your reports.
- To allow use in journal entries, vendor invoice distributions, Project Command Center, Client Receipts, Bank Register, or Client Invoices, leave the Allow journal entries check box selected.
To ensure accounts
such as cash, receivables, and payables remain in balance
with their ledgers, clear the check box to disallow journal entries.
- The
Normal debit balance check box
affects:
- Whether
the debit or credit column is active when you make entries for your beginning
trial balance
- How
amounts print for reporting
Ajera automatically selects this check box for account types that normally have debit balances. Select or clear this check box, as needed.
- The
DPE and Overhead
check boxes appear only for Expense or Other Income accounts if the DPE/overhead distribution method is
based on direct labor costs or hours.
Ajera uses these check boxes to determine
which accounts to use to calculate DPE and overhead markup percents for
project reports. They do not affect financial reports.
Select the appropriate check box.
- unavailable in ajeraCore unless you have the Departments add-on - Click
the Allocations tab for an Expense
or Other Income account, if needed. Select departments and specify the
percent of overhead expenses to distribute to each department; the distributions
in an allocated
account must total 100%.
-
Click the Attachments
tab and add attachments, by linking to related files. A linked file must be in a shared location for other
people to open it (for example, on a shared network or a website).
- Click the Notes tab, and type any notes for the
account.
- Click
Save. The account appears in a row below the cursor. To move it, click the row and click or .
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