To view the Chart of Accounts in AccountsPrep, navigate to the 'Accounting' tab and select 'Chart of Accounts'.

Here you can customise the client's Chart of Accounts in a number of ways:

  1. 'Add Account+' or 'Add Bank Account+'

  • Adding bank or standard accounts is easy - just follow the fields in the pop up menu!

  • A 'Bank' account operates differently to a standard account

  • A 'Bank' account can be created under any Asset or Liability class (for your flexibility i.e. loans etc)

  • Remember, you can't convert a 'bank' account to a 'standard' account (or vice-versa)

2. Edit an Account

  • To edit an account (code, name or class) simply click on the account name and the edit pop-up menu will appear

3. Active/Inactive Accounts

  • If an account is set to 'Inactive', the account will not appear in the dropdown menus of any batch or journals entries

  • This feature for your convenience — if you do not need a group of accounts (but would prefer not to delete them) then you can de-clutter the accounts dropdown menu within batches by de-activating them temporarily

  • You cannot de-activate an account if it has already been used in a batch in any period

4. 'Balance' column

  • This lets you know if there has been an entry in this account in the current period

  • With regard to the last point in 'Active Accounts' above, if there is a tick in this cell for an account you will not be able to de-activate the account

5. Change Class

  • You can select multiple checkboxes to the left of accounts and change the class of those accounts all at once

  • You can also change the class of a single account by clicking the account name and doing so via the Edit pop-up menu

6. Delete accounts

  • You can select multiple checkboxes to the left of accounts and delete these accounts all at once

  • There are limits as to what accounts you can/can't delete — i.e. you can't delete accounts with entries in them

  • You can also consider de-activating an account rather than deleting it

7. Import accounts

  • You can import additional accounts using a CSV file

  • This is very useful if you have a bunch of accounts to add at once, rather than adding them individually

  • The on-screen instructions will guide you through this easily (click the link for 'Show rules on importing' on the import screen to help you)

  • Tip: It is also possible to use this import functionality to change lots of account names at once (again, follow the on-screen rules on importing to see how)

8. Export accounts

  • Use the export button to export the on-screen results to excel

Did this answer your question?