To Edit a Chart of Accounts Layout

 

1.   Choose the Accounts option from the Nominal Ledger window toolbar.

2.   Select the chart of accounts layout you wish to amend, then click Edit.

The Chart of Accounts window appears.

The chart of accounts is subdivided into category types. By default, the category types for the profit and loss report are Sales, Purchases, Direct Expenses and Overheads; and for the balance sheet report they are Fixed Assets, Current Assets, Current Liabilities, Long Term Liabilities and Capital & Reserves.

Each category type is subdivided into category accounts, each of which consists of a heading and a range of nominal accounts. Sage Line 50 automatically sets up category accounts for each category type in your default layout of accounts, but you can amend these if necessary.

If you opted to create your own nominal account structure during the ActiveSetup Wizard, the default chart of accounts does not contain any category accounts.

3.   Select each category in turn from the Category Type list, and for each one enter or amend the details in the boxes provided:

Note: If you are setting up the Current Assets or Current Liabilities categories, the last five account entries in the category account list are reserved for æfloatingÆ nominal accounts whose values can be either positive or negative, e.g. Bank Accounts and VAT Liability.

When you run your financial reports, all of the nominal accounts entered in each range will be added together to give a sub-total for the category account heading to which they belong.

4.   Now you have set up or amended your chart of accounts, click Check to see if you have missed any nominal accounts or put any in twice.

5.   If you want to print a copy of your chart of accounts, click Print. Choose whether you want to print, preview, e-mail or save the information to a file and then click Run.

6.   To save your chart of accounts click Save, or to exit without saving click Close.

You can enter the following details:

Description

Low/High

Category Account Heading

 

Related Topics

Nominal Ledger Chart of Accounts

To Add a Chart of Accounts Layout

To Print a Chart of Accounts Layout

To Delete a Chart of Accounts Layout

To Set the Default Chart of Accounts