Accounting

Add New Account

Add a general ledger account to your Chart of Accounts.

Click Add Account on the Chart of Accounts page to open this pop-up. Enter the code, name and type, an optional opening balance, and choose whether the account is active, allows posting or is a bank account.

Open in Info-X

The screen

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What each number means

  1. 1
    Add Account

    The pop-up for creating a new general ledger account.

  2. 2
    Close

    Closes the pop-up without saving.

  3. 3
    Create

    Saves the new account to the Chart of Accounts.

  4. 4
    Account Details

    Code, name, type and description of the account.

  5. 5
    Account Code

    Required. The account number, e.g. 1001. Codes group accounts: 1xxx assets, 4xxx income, 5xxx/6xxx expenses.

  6. 6
    Account Name

    Required. A clear name, e.g. Cash in Bank.

  7. 7
    Account Type

    Required. Asset, Liability, Equity, Income, Expense or COGS — decides where it appears on reports.

  8. 8
    Sub-Type

    A finer grouping inside the type, e.g. Bank or Current Asset.

  9. 9
    Description

    Optional note about what the account is used for.

  10. 10
    Balance & Display Order

    Starting balance and list position.

  11. 11
    Opening Balance

    The account's balance on the day you start using it in Info-X.

  12. 12
    Sort Order

    Position in the account list — lower numbers appear first.

  13. 13
    Account Settings

    Switches that control how the account is used.

  14. 14
    Active

    Untick to hide the account without deleting it.

  15. 15
    Allow Posting

    Lets invoices, bills and journals post amounts to this account.

  16. 16
    Bank Account

    Tick if this is a real bank account, so it can be used for payments and reconciliation.

Hover a number to highlight its explanation. Click the screenshot to zoom.

Key areas

1

Account Details

Code, name, type, sub-type and description.

2

Balance & Display Order

Opening balance and position in the list.

3

Account Settings

Active, Allow Posting and Bank Account switches.

How to use it

  1. 1On Accounting → Chart of Accounts click Add Account.
  2. 2Type the Account Code and Account Name.
  3. 3Choose the Account Type and, if needed, a Sub-Type.
  4. 4Enter an Opening Balance if the account already holds money.
  5. 5Check the settings and click Create.

Tips

  • Use a code that fits your numbering, so the account sits with others of its type.
  • Untick Active instead of deleting an account that has history.