The Goal: Set up your Chart of Accounts so your financial data aligns with your existing accounting records and processes.
Before You Begin:
- You need finance/billing administrator permissions to view and edit the Chart of Accounts.
- Have a copy of your current accounting structure handy so you can match it against the sample chart of accounts provided on installation.
- On installation of the software, a sample chart of accounts is provided as a starting point. Edit and add to this list to ensure your database chart of accounts matches your current structure.
Microlearning Overview
Step-by-Step Instructions
The Chart of Accounts ensures that your financial data is aligned to any existing accounting records and processes.
- Go to Finance, Billing section, click Settings and select Chart of Accounts.
- Review the sample chart of accounts provided on installation, then edit and add to this list so it matches your current accounting structure. Use the related tasks below to manage individual accounts:
- Confirm each account maps correctly to your accounting records, then save your changes.
Common Pitfalls
- Leaving the sample accounts in place: The chart of accounts that ships on installation is only a starting point. Edit and add to it so it matches your real accounting structure before you begin billing, or your financial data will not align with your existing records.