Set Up a New Account

Two options are available for adding new accounts.
 
You can either add a new account directly to the desired level of the charts of accounts, or you can create accounts outside the chart of accounts structure, and then manually move them to a specific level. It is correct to use either option, depending on your preferences.
 
To create a new account in the chart of accounts
 
1. On the Codejig ERP Main menu, navigate to the Settings module, and then select Chart of accounts.
 
A listing page of the Chart of accounts opens.
 
2. On the listing page, navigate the chart of accounts to select the level where you wish to locate the account.
Note: You can create new accounts at each level of the chart of accounts. However, to ensure correct reporting, it is advisable to start adding accounts from Level 3 of the chart of accounts. Level 3 appears under account subcategories.
Starting from the Level 3, you can add active accounts within account subcategories. Also, you can add subaccounts for existing account groups or active accounts (in this way, turning active accounts at Level 3 into account groups). Or, you can even create subaccounts for active accounts at Level 4 grouped together under specific account groups.
 
3. Click the account subcategory, account group or active account to which you want to add the account, then click + Add new.
Note: After you select a specific level from the chart of accounts, the listing table displays only those accounts that were added to this particular level. All other accounts disappear from the table. If no accounts have been previously added at this level, nothing is displayed in the listing table. Before selecting any level, all accounts are  listed in the table.
Upon clicking +Add new, you are taken to a page for defining the new account.
 
4. Provide accounts details:
 
  • Account name and code
  • Account type
  • Account balance items
  • Account currency

5. Click Save.

The new account is created and located at the selected level of the chart of accounts. Since accounts are to be displayed in ascending order according to their codes, the position of the newly added account will depend on its code, if there are any other accounts at this level. 

To create a new account outside the chart of accounts structure
 
1. On the Codejig ERP Main menu, navigate to the Settings module, and then select Chart of accounts.
 
A listing page of the Chart of accounts opens.
 
2. On the listing page, click + Add new.
 
You are taken to a page for defining the new account.
 
3. Provide accounts details:
 
  • Account name and code
  • Account type
  • Account balance items
  • Account currency
 4. Click Save.
 
The new account appears at Level 1 of the chart of accounts together with major account groups. Since major categories are also organized in ascending order according to numbers assigned to each category, the location of the new account will depend on its code. However, it is highly recommendable to move such accounts to appropriate levels of the chart of accounts hierarchy to ensure correct reporting.
 
For more information how to move accounts within the chart of accounts, see Reorganizing Chart of Accounts Structure.
 
The page for defining new accounts  consists of the following sections:
 
  • General area
  • Balance items section
  • Account turnovers and balances section

To be able to save new accounts, you have to fill in the required fields which are marked with an asterisk (*).

 
More information
Account Details: General Area
Account Details: Balance Items
Account Details: Account Turnovers and Balances
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