Chart of Accounts

1

Now open Chart of Accounts.

2

Review these fields in the form: Account code, Account name, Parent account, Account type, Account nature, Level, Opening balance.

3

The remaining fields include: Grouping account without postings, Active, Description.

4

An asterisk marks a required field. Complete required values and review dates and relationships before saving. If validation fails, correct the highlighted field rather than submitting unchanged details again.

5

Set code, parent, type, nature, and level. A grouping parent account cannot receive postings when marked as such. Confirm opening balances with accounting staff. Do not infer account type solely from its name.