Creating and editing accounts

Creating and editing accounts

Use the Accounts page to add new accounts to your chart or modify existing ones. This is a setup task typically performed during initial configuration and when your business structure changes.

Before you start

• You must have chart of accounts management permissions (usually granted to accounting managers or administrators).
• Decide on your account code (numbering scheme) before creating accounts. It should follow your organization's standard—for example, asset codes starting with 1, liability codes with 2, etc.
• Have ready: account name, type, category (if applicable), and any tags for special tracking (e.g., "tax," "audit").
• Do not create duplicate accounts for the same purpose; instead, use tags and aliases to classify a single account multiple ways.

Steps

1. Go to Settings → Accounts (or the Accounts menu on the main sidebar). Open in Usystems

2. To add a new account, click the New Account or Create button (exact label may vary by product version).

3. Fill in the account details:

   • Code: Enter a unique code (e.g., "1010" for a bank account). This code appears in reports and must be distinct from all other codes.
   • Name: A clear, descriptive name (e.g., "Main Bank Account," "Sales Returns," "Office Rent Expense").
   • Type: Choose from Asset, Liability, Equity, Income, or Expense. This determines the account's debit/credit normal balance.
   • Category (if available): Further subdivide by purpose (e.g., "Current Assets," "Fixed Assets").
   • Currency (if applicable): Select the account's default currency. Some systems allow multi-currency accounts; check your product version.
   • Is system account: Leave unchecked unless you are creating a required system account (rare; usually these are pre-configured).

4. Optionally, add tags for additional classification (e.g., "tax-tracked," "intercompany," "cost-center-1").

5. Add a brief description (optional) to clarify the account's use or any special handling.

6. Click Save (or Create). The account is now added to your chart and available for use in transactions.

Editing an existing account

1. Go to Settings → Accounts and find the account in the list. Open in Usystems

2. Click the account name or an Edit icon to open the account form.

3. Update the desired fields. Note: account code and type cannot be changed after creation (to prevent breaking historical transactions). Name, category, currency, and tags can be edited.

4. Click Save.

Archiving an unused account

If an account is no longer used but has historical transactions, do not delete it; instead, mark it as archived. This keeps the account out of new transaction forms while preserving historical data.

1. Open the account (as above).
2. Click Archive or toggle the Active switch to off.
3. The account is removed from all dropdown lists but remains queryable in reports and history.

Accounting impact

Creating or editing accounts does not itself generate transactions. However:

• The chart structure determines which accounts appear as options in forms (invoices, bills, payments).
• The account type (Asset, Liability, etc.) controls the normal balance and how the account appears in financial statements.
• Tags and categories help organize reports; they do not affect posting logic.

Tips & common mistakes

• Use clear, consistent naming: "Sales Revenue - Product A" is clearer than "Revenue." This helps both users and automated reports.
• Do not delete accounts with history: If an old account is unused, archive it instead. Deletion can corrupt historical data and reports.
• Plan your chart upfront: Adding accounts retroactively requires careful review of existing transactions. Set up a complete chart during initial configuration.
• Align currency with your business: If you operate in multiple currencies, create separate accounts per currency or use a system-level multi-currency setup. Check your product's configuration.