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How to Add an Account to the Chart of Accounts

You can watch the video procedure or follow the instructions below.

Instructions

Note: All the accounts should have a different account number. We recommend that the account number of the accounts of the same type start with the same number to ease your accounting (all the “Income” accounts start with a four, all the “Liabilities” accounts start with a two, etc.).

1. Go to the “Accounting” tab and the “Chart of Accounts” subtab.

2. Determine the type and the association (Assets – Account Receivable, Equity – Dividend, Income – Heating fees, etc.) of the account you want to create.

3. Click on “Add” at the top right.

4. Enter the new account number and its name, and select the association.

5. Click on “Finish.”

You have now added an account to the chart of accounts.

Transcription of the Subtitles

Here is how you add an account to the chart of accounts.

Go to the “Accounting” tab and the “Chart of Accounts” subtab.

Check the accounts of the same type as the one you want to create, such as “Assets” and “Expense,” and determine the account number of the new account.

The accounts should all have a different account number. To make it easier to manage your accounting, we recommend that the accounts of the same type all start with the same number. For example, all the “Assets” accounts start with 1.

Click on “Add,” enter the account number and the name of the account. In this case, we can name it “Chequing Account BMO.”

Select the association. In this case, it is “Assets – Chequing Account.”

Click on “Finish.” Click on the three lines to go back to the chart, and you will see the new account.

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