Financial Accounts Account Categories Account Types Creating an Account Special Flags Managing Accounts Viewing Accounts Filtering Editing an Account Viewing Ledger Account Nature

Financial Accounts

Financial accounts form your chart of accounts—the foundation of your accounting system.

Account Categories

Category Normal Balance Examples
Asset Debit Cash, Accounts Receivable, Equipment
Liability Credit Accounts Payable, Loans, Accrued Expenses
Income Credit Sales Revenue, Service Income, Interest
Expense Debit Salaries, Rent, Utilities
Equity Credit Owner's Capital, Retained Earnings

Account Types

For Assets and Liabilities:

Type Description
Current Short-term (within one year)
Non-current Long-term (beyond one year)
Fixed Property, plant, and equipment

Creating an Account

  1. Go to Finance → Financial Accounts
  2. Click New Account
  3. Fill in:
    • Code — Unique account code (e.g., 1001)
    • Name — Account name
    • Category — Asset, Liability, Income, Expense, or Equity
    • Type — Current, Non-current, or Fixed (for assets/liabilities)

Special Flags

Flag Purpose
Receivable Mark as accounts receivable
Payable Mark as accounts payable
Carry Forward Balance Balance carries to next year (for balance sheet accounts)

Managing Accounts

Viewing Accounts

The table shows:

  • Code
  • Name
  • Category
  • Type
  • Balance side (Debit/Credit)

Filtering

Filter by:

  • Category
  • Type
  • Balance side
  • Account nature (Permanent/Nominal)

Editing an Account

  1. Click on the account
  2. Click Edit
  3. Make changes and save

Note: System default accounts have limited editing options.

Viewing Ledger

Each account has a Ledgers tab showing all entries affecting that account.

Account Nature

Nature Description Examples
Permanent Balance carries forward Assets, Liabilities, Equity
Nominal Closes to retained earnings Income, Expenses