This page shows a list of accounts in a tree format. The asset account is opened, along with a sub-account

This page allows you to manage your database chart of accounts. Your accounts are listed in a tree format, with sub-accounts listed beneath parent accounts. If an account has subaccounts, a right arrow is shown on the tree. Click this to open the tree. The screenshot above shows the Assets account opened in this matten. Inside, the Current assets account is also a parent account, and it has been opened to reveal a series of accounts.

Next to each account is a series of icons. These allow you to perform various functions:

  • : Creates a new account underneath this one
  • : Edit details of this account. Details include the account name or the account code
  • : Move this account down among other accounts that are also grouped together at this level with the same parent account. Performing this operation will have the effect of changing the order of your financial reports. The order is set here using this function, even if your account names or codes are not in alphabetical or numeric order. You won’t see this arrow if the account is at the bottom of a group of accounts
  • : Move this account up among other accounts that are also grouped together at this level with the same parent account. Performing this operation will have the effect of changing the order of your financial reports. The order is set here using this function, even if your account names or codes are not in alphabetical or numeric order. You won’t see this arrow if the account is at the top of a group of accounts
  • : Make this account a sub-account (or child account) of the account that is shown above it, currently at the same level.If you were to press this icon on “1-2000 Equipment” on the example above, it would be moved to become a child account of “1-1000 Current assets”. Moving an account will move any of its own child accounts
  • : Promote this account to the same level as its current parent. If this icon was pressed on “1-1910 Other current assets”, it would be promoted to the same level as “1-1000 Current assets”

What is the chart of accounts used for?

Your database chart of accounts is used for a number of accounting functions:

  • Reports, such as Balance Sheet and Profit or Loss reports are organized using the chart of accounts. Chart of accounts are organized in a tree like structure, with some accounts containing nested accounts. Reports can collate these sub-accounts and report totals for their parent accounts.
  • Each account can be used to classify different types of activity. Salaries can be allocated to a “salaries account”, while office rent would be allocated to a “rent” or “occupancy” account. These classifications make your accounting reports more useful to you. They also help at tax time.