How to: Set Up General Ledger Accounts in the Chart of Accounts Window

If you want to set up a completely new chart of accounts or add new accounts to an existing one, you must set up each account individually. When you set up a completely new chart of accounts, it is easier to use the Chart of Accounts window.

To set up general ledger accounts in the chart of accounts window

1. In the Search box, enter Chart of Accounts, and then choose the related link.

2. In the Chart of Accounts window, on the Home tab, choose Edit.

3. Enter the account number in the No. field. All accounts must have a number.

4. In the Name field, enter the account name.

5. In the Income/Balance field, select Income Statement or Balance Sheet, depending on whether the account will be part of the income statement or the balance sheet.

6. In the Account Type field, identify the purpose of the account. To view the options, choose the field. Only the first type, Posting, represents an account that you can post to; the others are used to create totals and headings in the chart of accounts.

7. For accounts of the Total account type, you must fill in the Totaling field. For End-Total accounts, this field is filled in automatically by the Indent function.

   In addition to the fields described earlier in this section, you must fill in the Gen. Bus. Posting Group, Gen. Prod. Posting Group, VAT Bus. Posting Group, and VAT Prod. Posting Group fields. For Help about a specific field, choose the field and press F1.

8. Choose the next empty line to set up a new account, and then repeat steps 3 through 6.

9. After you have set up all the accounts, on the Actions tab, in the Functions group, choose Indent Chart of Accounts. Choose the Yes button.

See Also

Tasks

How to: Insert Page Breaks in the Chart of Accounts
How to: Use More Than One Line for General Ledger Account Names

Other Resources

Making Windows Editable