Create an account

Add a new account to your Chart of Accounts whenever you need a new place to record a type of income, expense, asset, liability, or equity.

Steps

1. From the Accounting menu, open Accounts.
2. Select Create Account.
3. Choose the Account Type (Asset, Liability, Equity, Revenue, or Expense). The form suggests the next available Account Number based on the type you pick.
4. Enter or adjust the Account Number. It must be unique within your organization.
5. Enter the Account Name.
6. Optionally choose a Sub-Type and a Parent Account to nest this account under another.
7. Optionally add a Description and an Opening Balance.
8. Select Create to save.

After saving, you return to the accounts list and see a confirmation showing the new account’s number and name.

Required fields

• Account Number (required, unique, up to 20 characters)
• Account Name (required)
• Account Type (required)

Tip: If you leave the Opening Balance blank it is treated as zero. The opening balance also becomes the account’s starting current balance.