Chart of Accounts is the listing of all accounts that the organization used for their general ledger. QNE has the flexibility to tailor fit the chart of accounts structure that is best suite in the needs as well as adding new accounts.
Using the Navigation Panel, go to General Ledger and select Chart of Accounts.
QNE Chart of Accounts has already defined default structures based on the standard accounting.
In order to view sub-ledger accounts, you can click the arrow icon beside the account.
The account which are in blue color states that the account handles special account types that are as follow:
BAC – Bank Account
CAC – Cash Account
DAC – Debtors Control Account
SAC – Stock Control Account
ADA – Accumulated Depreciation Account
CCAC – Creditors Control Account
APLAC – Accumulated Profit and Loss Account
Cost of Sales:
OST – Opening Stock Account
CST – Closing Stock Account
To create new accounts, highlight a specific parent account type and select New under Common Tasks
In the Account Entry Form, specify a new GL account code (must be unique), a description and the normal account balance. Then, check if the account will handle a special account type.
Chart of Accounts can have multiple levels per each account and follows the Parent and Child property inheritance. Whenever there’s an account that needs to be grouped, click and hold the account and drag it to a specific parent account.
To check the property, select the account and click Edit using common task.
Note: Accounts will have already entries cannot be deleted nor have sub-ledger during the set-up phase.