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In this article, you will learn how to create new ledger accounts within the 'Accounts List'.
Getting Started
To access your accounts list, navigate to Accounting > Accounts > Accounts List.
Doing so will take you to the page shown in the screenshot above. To add a new account, you will firstly need to access the 'Master Accounts' list. Click on the drop-down field for 'Display' and select 'Master Accounts', as per the screenshot below.
This will change the view of the accounts, and you will now see green + signs next to each header account, as per the screenshot below. You can click on one of these signs to create a new account under the respective header account.
Creating the new Account
When you click on the green + sign, the 'Add account' window will pop up, as per the screenshot below.
If you are creating an active account that you will be making transactions to/from, you will want to select 'Child account'.
You will be required to enter a unique account number for each new account. Standard practice is to number the account something like 1-1230, where the 1 prefix denotes the header account and the following digits refer to the account itself.
Use the 'Financial Details' section to indicate what type of account is being created, which will determine where it sits within the financial statements.
If the account involves cash transactions, you can specify which section of cash flow it belongs to.
The 'Matter restriction' field will allow you to choose how transactions to/from this account are associated with matters: always, occasionally or never.
You can click on the 'Archive this account' button to make the account inactive, which will prevent further transactions from being made to/from it.
Once you are happy with your settings, click 'Save' to create your new account and add it to the Accounts List.