This form allows to rename built-in Cash & cash equivalents account.
To access this form, go to Settings, then Chart of Accounts, then click Edit button for Cash & cash equivalents account.
The form contains the following fields:
Enter the name for this control account that represents all bank and cash accounts combined.
The default name is Cash & cash equivalents following standard accounting terminology.
This account aggregates all individual bank accounts and cash accounts for balance sheet presentation.
Enter an optional account code to organize your chart of accounts systematically.
Account codes help with sorting accounts and can follow your existing numbering system.
Common codes for cash accounts range from 1000-1099 in many accounting systems.
Select the balance sheet group where this asset account should appear in financial reports.
Cash and cash equivalents are always current assets and typically appear first on the balance sheet.
This represents your most liquid assets available for immediate business use.
Click Update button to save your changes.
This account cannot be deleted, it is automatically added to your Chart of Accounts when you have created at least one bank or cash account.
For more information see: Bank and Cash Accounts