Chart of Accounts

Build the list of accounts your business uses, and keep it up to date.

What the chart of accounts is

The chart of accounts is your list of accounts: what you own, what you owe, what you earn and what you spend. You manage it in the Web admin under Accounting > Chart of Accounts. You need permission to edit finance settings to see this menu item.

The list starts empty. Suvaiq does not create any accounts for you, so add the ones you need.

Where accounts are used

Once you have at least one active account with Allow Direct Posting switched on, supplier bills and recurring bills show an account field: Expense Account, or Expense / Inventory Account on a bill created from a goods received note. Use it to say which account the bill belongs to, or leave it at No account coding. See Supplier Bills.

View your accounts

Go to Accounting > Chart of Accounts. Each row shows:

Column	Shows
Code	The account code you gave it
Account Name	The name, with the start of the description under it
Type	Asset, Liability, Equity, Revenue or Expense
Balance	The account's current balance from posted journal entries
Status	Active or Inactive

To find an account, type part of its code or name in the search box, or choose a type (All Types) or a status (All Status), then click Filter. You can also choose how many accounts to show per page.

Click an account name, or the eye icon, to open its details. The details screen also shows the account's Normal Balance, its Level under a parent account, its Child Accounts if it has any, and who created and last changed it.

Account types

Every account has one of five types. The type decides where the account belongs in your books.

Account Type	Use it for
Asset	What the business owns or is owed, such as cash, bank balances and stock
Liability	What the business owes, such as money owed to suppliers, loans and tax to pay
Equity	The owners' stake: money put in, money taken out and profit kept in the business
Revenue	Income, such as sales
Expense	Costs, such as cost of goods sold, salaries, rent and utilities

Account Sub-Type is optional and narrows the type. The list offers choices such as Cash, Bank, Inventory, AccountsPayable, SalesRevenue, CostOfGoodsSold, Salaries, Rent and Utilities.

Add an account

Click Add Account

On Accounting > Chart of Accounts, click Add Account. The Create New Account screen opens.
Enter the code and name

Enter an Account Code (up to 20 characters, for example 1000) and an Account Name (for example Cash on Hand). Each code can be used only once.
Choose the type

Choose an Account Type. Choose an Account Sub-Type if one fits.
Add the optional details
- Description: a note about what the account is for.
- Parent Account: choose another account to place this one under it. Leave it at No Parent (Root Account) for a top-level account. The list offers active accounts that have Allow Direct Posting switched on.
Check the settings
- Allow Direct Posting: leave it ticked for an account you want to choose on bills and journal entries. Untick it for an account you only use as a heading.
- Active: leave it ticked. Inactive accounts cannot be used in transactions.
Click Create Account

You return to the list and see the message "Account created successfully."

Edit an account

Open the account for editing

In the list, click the edit icon on the account's row. Or open the account's details and click Edit.
Make your changes

You can change every field, including the code, name, type, parent account and the two settings.
Click Update Account

You return to the list and see the message "Account updated successfully."

To stop using an account without deleting it, edit it and untick Active. It stays in the list with the status Inactive and is no longer offered on bills and journal entries.

Delete an account

In the list, click the bin icon on the account's row. In the Confirm Delete box, click Delete. This cannot be undone.

You cannot delete an account that:

has child accounts. Delete or move the child accounts first.
has a balance other than zero.

Troubleshooting

"The specified account code already exists."

Another account already uses that code. Enter a different Account Code.

"Cannot delete account with child accounts. Delete child accounts first."

Open the account's details to see its Child Accounts. Delete them, or edit each one and choose a different Parent Account, then delete the account.

"Cannot delete account with non-zero balance."

The account holds a balance. Edit it and untick Active instead.

An account is missing from the account list on a bill

Only active accounts with Allow Direct Posting ticked are offered. Edit the account and tick both Active and Allow Direct Posting.

Documentation