Chart of Accounts

Once you open the Chart of Accounts under Accounting, a standard list of accounts will show up.

Create Account

To create an account, proceed with the following steps:

1. Navigate to Accounting / Chart of Accounts.

2. Click "Create" (Top right corner)

3. The following information should be inserted:

   • Name (Required: Enter the full name of the account)

   • Second Name (Optional: Use for a nickname, alternate name, or translation in another language...)

   • Account Level (Required)
     Choose the account level:

     • General (These are high-level categories in the chart of accounts that group related financial activities - They act as “parent” accounts)
     • Subsidiary (These are the "child" accounts where actual transactions are recorded)

   • Currency (Required: Select the currency for the account if multi-currency is enabled - options listed depend on the created currencies in the settings, e.g., LBP, USD, EUR).

   • Account Type (Required: Divided under several categories: Assets, Liabilities, Equity…)

   • Sub Account (Optional: Select this option if the account has a parent account)

   • Parent Account (A higher-level account that groups related sub-accounts)

     • Required: If the account is a sub-account.
     • If not a sub-account, no parent account is present.

   • Account Number (Required)

     • For general accounts, choose one of the available option.
     • For subsidiary accounts, the system will automatically generate the account number.

4. Click "Save" to continue (Top right corner)

Edit Account

To edit an account, proceed with the following steps:

1. Navigate to Accounting / Chart of Accounts.

2. Right click the account entry and select "Edit."

3. The following information could be edited if needed:

   • Name (Required: Enter the full name of the account)
   • Second Name (Optional: Use for a nickname, alternate name, or translation in another language...)
   • Account Type (Required: Divided under several categories: Assets, Liabilities, Equity…)
   • Parent Account: If you edit the parent account, the account number will be automatically modified to reflect the new hierarchy.
     --> As such, all related subsidiaries will be automatically updated based on the parent account number.
   • Account Number
     • If account is general, account number can be changed.
     • If account is subsidiary, account number can not be changed.

Create Sub Account

To create a subaccount, proceed with the following steps:

1. Navigate Accounting / Chart of Accounts.

2. Right click the account entry and select "Create Sub Account"

3. The following information should be insterted:

   • Name (Required: Enter the full name of the account)

   • Second Name (Optional: Use for a nickname, alternate name, or translation in another language...)

   • Currency (Required: Select the currency for the account - options listed depend on the selection of currencies in the settings, e.g., LBP, USD, EUR).

   • Account Type (Required: Divided under several categories: Assets, Liabilities, Equity…)

   • The parent account will be automatically set based on the selected general account

   • Account Level and Account Number:

     • General account: (which may have its own sub accounts)

       • Choose account number with respect to the parent account

     • Subsidiary account (a more detailed account under the general account)

       • Account number will be automatically generated

4. Click “Save” to continue (Top right corner)

Delete Account

To delete an account, proceed with the following steps:

1. Navigate to Accounting / Chart of Accounts.
2. Right-click the account entry and select "Delete”
3. Upon selecting delete, a confirmation pop-up will appear to ensure the action is intentional.
   Click “Confirm” to continue

View All Accounts

Accounts are displayed in a hierarchical tree structure, clearly showing the root accounts along with their associated sub-accounts and subsidiaries.

To view all accounts, proceed with the following steps:

1. Navigate to Accounting / Chart of Accounts.
2. Click “Expand All” (Top left corner)

Display Root Accounts Only

To view root accounts only, proceed with the following steps:

1. Navigate to Accounting / Chart of Accounts.
2. Click “Collapse All” (Top left corner)

To access detailed instructions on common system actions, please refer to the following resource: "Common Actions"