What is Chart of Accounts? How to Create Chart of Accounts?

 

Chart of accounts is simply the list of accounts of an entity. Here are some steps to create chart of accounts.

Step#1

Or

Step#2

How to Inactive Any Account

 

Note* every account is not able to delete in chart of accounts. Because some basic accounts never be deleted in system. We can create a separate account but never be remove because system never support.  This is manual way to create chart of accounts but we can import the excel file for creation of chart of accounts. Nevertheless, this is the common way to add or delete any account.

How to add an account?

Step#3

Step#4

Note* Always first select account type after that detail type and so on. But whatever the name of account we must know the nature of account either it is expense, asset, income etc. While generating the account sequence must be follow, otherwise our account name will not as we decided.  

How to view inactive accounts?

Step#5

Note* when you inactive accounts and you wanted to again active in list. Go to setting option and select this.

Step#6

Just simply click this option and again add into the list.