Chart of Account Maintenance

Chart of Account Maintenance

Overview:

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.

Procedure:

In Navigation Pane, go to General Ledger > Chart of Accounts. Listed are the QNE Chart of Accounts defined default structures based on the standard accounting.

In order to view sub-ledger accounts, click the arrow icon beside the account.

How to Create an Account

1. In Chart of Account, click New

2. Using New Form, Supply the fields with data:

• Parent – Mother account of created sub-accounts.
• Account Code – This is a compulsory field and should be a unique code.
• Account Name – This is a compulsory field.
• DR CR – If the account is for Debit or Credit Posting
• Special Account Type – For normal accounts, you may select 'None' and for other accounts used for banks, debtors, creditors, etc., please select the corresponding special account type. Below are the types for your reference.

Current Assets

• Bank Accounts
• Cash Account
• Debtors Control Account - Customer Posting Account
• Purchase Tax
• Stock Account
• Deposit Account

Property, Plant and Equipment

• Accumulated Depreciation Accounts

Current Liabilities

• Bank Overdraft Account
• Creditors Control Account – Supplier Posting Account
• Sales Tax
• Deposit Account

Equity

• Accumulated Profit & Loss

Cost of Sales

• Closing Stock Account
• Manufacturing Account
• Opening Stock Accounts

3. Once done, click Save or Save & Close

How to Edit an Account

1. In Chart of Accounts screen, select an account then click tipple dot […] > Edit

2. Then Apply necessary changes. Once done, click Save or Save & Close

How to Delete an Account

1. In Chart of Account screen, select an account then click tipple dot […] > Delete.

2. Delete Account confirmation prompted. Click Delete

Note: GL Account deletion is allowed as long as it is not used in any transactions and/or not associated with any Customer or Supplier.

Application:

Created Account is now able to use in Transaction Forms

For further concerns regarding this matter, please contact support to assist you or create ticket thru this link https://support.qne.com.ph