Accounting -> Accounts
SimplBooks has a default chart of accounts that you can change to fit your company’s needs. If you add new accounts, make sure to link them to the right reports.
1xxx – Balance sheet accounts (assets)
2xxx – Balance sheet accounts (liabilities)
3xxx – Balance sheet accounts (equity)
4xxx – Profit and loss statement accounts (income)
5xxx–6xxx – Profit and loss statement accounts (costs)
The 9xxx series can be used for creating off-balance-sheet temporary accounts. Keep in mind that the balance of these accounts must always be zero by the end of the day, otherwise, the balance sheet will not be in balance.
● The list length can be selected from the dropdown menu above the list, but the system will not remember this selection. The default list length for the environment can be set under . ● The list of accounts can be exported by clicking the “Export” button.In the window that opens, you can choose the format in which the data will be exported.
- Account code – the first digit indicates the type of account. It is not recommended to change the code of existing accounts.
- Account name – in the environment’s default language.
- If you change the account name, also update the translations. System-created accounts already have translations.
- To deactivate an account, click the green button on the Active line.
- Save account – to confirm the changes made, “Cancel” to discard the changes.
Example
You want to record utility costs under separate accounts. By default, all utility costs are recorded under account 5220. In the profit and loss statement, the account should appear under miscellaneous operating expenses, just like account 5220. Therefore, we’ll create a new account with a similar number, for example, 5221.
First, make sure that account number 5221 is not already in use.
Enter the account number in the search field.
We can see that there is no account with this number in the system yet, so it can be used to create a new account.
● Click the “New account” button.
- Account code – enter the code here (5221)
- Account name (in English)
- Add translations for account names if the environment is used in languages other than English.
- Active must be turned on for the new account.
- Save account – to confirm the changes made.
The current setting is correct (the account number falls within the range of accounts set for the profit and loss statement line).
If you need to make changes in the statement settings, you can find more information in the guide How to change the settings for preparing the main accounting reports?
If desired, you can also add account numbers with 5 to 8 digits. When setting up statements, keep in mind that such accounts must not be added as a range at the end of other accounts.
New accounts should be added separated by commas from the default accounts. For example, if you add numbers 525011, 525012, 525013, you can represent them as a range in the report settings like this: 5200:5580, 525011:525013.
If you have any additional questions, please write to us at support@simplbooks.ee
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