Accounting -> Accounts
SimplBooks includes a predefined chart of accounts, which you can adjust to match your company’s specific requirements. When adding new accounts, make sure to link them to the appropriate 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 (expenses)
The 9xxx series can be used for creating temporary clearing 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 balance.
● The number of items per page can be selected from the dropdown menu above the list, but this selection is not saved. 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 include translations.
- To deactivate an account, click the green button in the Active field.
- 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, similarly to account 5220. Therefore, we’ll create a new account with a similar number, for example, 5221.
First, ensure 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 is within the range of accounts configured for the profit and loss statement.
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 reports, keep in mind that such accounts must not be included as a range following other accounts.
New accounts should be added separated by commas from the default accounts list. 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
Leave A Comment?