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Actionstep Practice Pro+accounting will include a default chart of accounts configured for your region. This is referred to as the Accounts List. In this article we will review how to access and navigate through your Actionstep Accounts list. Linked within this article you will find additional articles instructing you on how to update or interact with your accounts.
Overview
To access your accounts list, navigate to:
Accounting -> Accounts -> Accounts List
Here you will find a detailed list of your accounts. Below is a breakdown of the account details listed on this screen.
Account ID: This is a system ID that the Actionstep application uses to references your accounts. This is *not* the account number that users will use to code transactions to accounts.
Account Name: This is the name of the account. This name will appear in dropdown menus along with the account number on a number of accounting and billing screens.
Account Number: This is the number used for ordering and classifying the account.
Account Type: The account type categorizes what sort of transactions are processed using this account. The five main categories are Assets, Expenses, Liability, Equity, and Revenue with a number of subtypes also included.
Restrictions: This column indicates whether there are any restrictions on this account. Types of restrictions include
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System |
System accounts are used for the background calculations that happen in your accounting system automatically. For more information on system accounts see this article. |
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Matter |
This restriction indicates that transactions linked to this account have to be associated with a matter |
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Non-Matter |
This restriction indicates that transactions linked to this account cannot be associated with a matter. |
Tax: This column indicates the tax rate applied to this account. When no tax rate is applied this column will display NT
Additional Info: This column includes the ability to link bank accounts. For more information on linking bank accounts see this article.
Division and Master Accounts List
Unless configured to use multiple divisions, your Actionstep system will come configured with a single division account list and a single master accounts list. The accounts list you are currently viewing is reflected in the “Display” dropdown. Your division account list will reflect the name of your organization while your master accounts list will be listed as “Master Accounts.” Both screens serve specific functions in your Actionstep system.
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Division Accounts List |
Users can use this list to view accounts installed for their division, link bank accounts, and enter opening balances. |
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Master Accounts List |
Users can use this list to add, edit, delete, and install accounts for each division. For more info on master accounts see this article. |
Entering Opening Balances
If you have moved to Actionstep from another system, you will be able to add opening balances for each of the ledger accounts in the 'Accounts List'. For more information on how to do this, please see this article.
Adding new Ledger Accounts
You can create new ledger accounts to accommodate for bad debts, alternate currencies, or any other purpose you deem necessary. To find out how to do this, please see this article.