Setting Up G/L 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 G/L Accounts in the Chart of Accounts Window:

  1. Open the Chart of Accounts window.

  2. Click the No. field, and then enter the account number. All accounts must have a number – even "accounts" that are only used for headings and totals.

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

  4. Click the Income/Balance field, and then click the AssistButton . Select Income Statement or Balance Sheet, depending on whether the account will be part of the income statement or the balance sheet.

  5. In the Account Type field, identify the purpose of the account. Click the AssistButton to see the options. Only the first type, Posting, denotes an account that you can post to; the others are used to create totals and headings in the chart of accounts.

  6. 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 above, you must fill in the Gen. Bus. Posting Group, Gen. Prod. Posting Group, VAT Bus. Posting Group and VAT Prod. Posting Group fields. (Some of the fields are not included in the standard layout, but you can insert them with the Show Column function.) For Help about a specific field, click the field and press F1.

  7. When you have filled in the last field on a line, press Enter to set up a new line. Then repeat steps 2–6.

  8. After you have set up all the accounts, click Functions, Indent Chart of Accounts. Then, in the window with the message that explains how indenting works, click Yes.


If you have entered definitions in the Totaling fields for End-Total accounts before executing the indent function, you must enter them again afterward because the function overwrites the values in all End-Total fields.

Related Topics

Inserting Page Breaks in the Chart of Accounts

Placing Comments on G/L Accounts

Using More than One Line for G/L Account Names

Using the Show Column Function