To create a new chart of accounts manually:
1. Go to Configuration > Chart of Accounts, click on the Add button. Enter the name that describes your new CoA and select the type:
2. Your new chart of accounts entry will appear in the list of charts:
3. Click on the hyperlinked label “New Cost CoA” in order to add each of the relevant level 1 codes:
4. Save your entry. You will notice an arrow icon on the right hand side. To enter secondary level codes, click into it and enter the relevant code details:
5. You can continue to add new code levels (3, 4, etc) by clicking the arrow icons next to the codes that you want the new level to sit under.
6. To add new codes to your Chart of Accounts once it has been created, go back to Configuration > Chart of Accounts. Press the title of your CoA to see the list of account codes you have created. Press the existing code that you want your new code/s to sit under. E.g., if you want to add a new level 3 code, press the level 2 code that it relates to (as shown below).
Cost versus Revenue CoAs and Contingency Codes: In the example above a Cost chart was created. When creating a cost chart of accounts the Is Contingency column will be displayed. Revenue CoA will not have a contingency value option:
To indicate contingency, codes for variations to be mapped against the Is Contingency box must be ticked. Codes that have been selected as a contingency code will appear in the Funding Code dropdown when adding a variation to a contract:
Deleting CoAs: To delete a chart of accounts, select the relevant chart from the Chart dropdown and then click the delete icon to the right of the chart name, then click OK to confirm that you wish to delete that chart.
To edit account codes; click in the code you wish to edit and amend as necessary then save. To remove a code, click the save icon and save.
You have successfully added account codes to an existing chart of accounts.
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