Steps to create General Ledger account or also known as chart of account:
1. Go to Accounts > Add an Account
b) Select Category options applicable.
- Category for GL or COA is actually known as account type.
- By default there are few account type created.
- So, when you want to create GL or COA you need to categorized under which category the GL or COA is.
c) For Default Tax Type:
You may also choose a specific tax code that commonly will be use for that particular of GL or COA (if any)
d) Type Description:
- You may key-in a longer description of the details of the GL or COA.
e) Tick active, active indicate GL or COA is still being used by your company:
- Tick on active box if the GL or COA currently still being used and,
- Untick the box if the account is no longer being used anymore
f) Key-in opening balance of the GL or COA (If any)
* You can take it amount of opening balance from balance sheet last year.
- You can add attachments by clicks pin button.
- File may not exceed 2 MB and maximum of 5 attachments per note or transaction can be added
4. After you complete the information, you may click on save button.