Click on the ‘New Chart of Accounts’ tab. It shows the form to add a chart of account. Fill general information.
There is only one section COA Information, it contains
- Account TypeType of account (eg: Income, Expenses)
- Account NameCOA name
- Sub Account typeIt is dependent on account type, selection of account type will change the sub accounts
- NoteNote related to COA
- NumberAccount number
- Initial BalanceInitial balance of COA
- DescriptionDescription for COA
- TaxlineSelect taxline
After filling the required fields click ‘Create COA’ button to add the Account.