Chart of Accounts

The Chart of Accounts screen in Manager provides an organized list of all accounts within your business's financial records. This screen is located in the Settings tab.

Sections

There are two main sections on the Chart of Accounts screen:

Balance Sheet (left side)

The Balance Sheet contains balance sheet accounts and their groups.

• Creating a Balance Sheet Account:
  Click the New Account button found on the left side. For more details, visit Balance Sheet Account — Edit.

• Organizing Accounts into Subgroups:
  If your business has many balance sheet accounts, you can organize them into subgroups, such as:

  • Current Assets
  • Non-Current Assets
  • Current Liabilities
  • Non-Current Liabilities

  To create new subgroups, click New Group on the left side.

Profit and Loss Statement (right side)

The Profit and Loss Statement section includes profit and loss-related accounts, groups, and optional totals.

• Creating a Profit & Loss Account:
  Click New Account on the right side.

• Organizing Accounts into Subgroups:
  If you have many profit and loss accounts, you can group them into categories like:

  • Direct Expenses
  • Operating Expenses
  • Other Income
  • Other Expenses

  Create these subgroups by clicking New Account on the right side.

• Adding Custom Totals:
  You can add custom total rows like:

  • Gross Profit
  • Operating Profit
  • Net Profit Before Tax
  • Net Profit After Tax

  To add totals, click the New Total button. This helps generate an easy-to-follow, multi-step Profit and Loss Statement.

Reordering Groups, Accounts, & Totals

You can reorder any groups, accounts, and subtotals (except built-in top-level groups: Assets, Liabilities, Equity) by clicking the blue arrow buttons. Although you cannot reorder the built-in top-level groups here, you can choose alternative layouts when generating Balance Sheet reports.

Automatic Built-in Accounts

Based on the tabs and features you enable in Manager, certain accounts are automatically added to your Chart of Accounts. You can rename these accounts after they appear.

Below is a summary of accounts automatically created by enabling certain tabs or features:

Balance Sheet Accounts

• Cash & Cash Equivalents (after adding a bank or cash account): See Guide.
• Inter Account Transfers (after adding a bank or cash account): See Guide.
• Accounts Receivable (after adding a customer): See Guide.
• Accounts Payable (after adding a supplier): See Guide.
• Billable Time (after creating at least one billable time entry): See Guide.
• Billable Expenses (after enabling Billable Expenses): See Guide.
• Capital Accounts (after adding a capital account): See Guide.
• Employee Clearing Account (after adding an employee): See Guide.
• Expense Claims (after adding an expense claim payer): See Guide.
• Fixed Assets, at Cost (after adding a fixed asset): See Guide.
• Fixed Assets, Accumulated Depreciation (after adding a fixed asset): See Guide.
• Intangible Assets, at Cost (after adding an intangible asset): See Guide.
• Intangible Assets, Accumulated Amortization (after adding an intangible asset): See Guide.
• Inventory on Hand (after adding an inventory revaluation): See Guide.
• Investments, at Cost (after adding an investment): See Guide.
• Special Accounts (after adding a special account): See Guide.
• Tax Payable (after adding a tax code): See Guide.
• Withholding Tax (after creating withholding tax receipts): See Guide.
• Withholding Tax Receivable (enabling withholding tax on sales invoices): See Guide.
• Withholding Tax Payable (enabling withholding tax on purchase invoices): See Guide.
• Retained Earnings (automatically created): See Guide.

Profit & Loss Accounts

• Billable Expenses - Cost, Billable Expenses - Invoiced (after enabling Billable Expenses): Guide (Cost), Guide (Invoiced).
• Billable Time - Invoiced, Billable Time - Movement (after creating billable time): Guide (Invoiced), Guide (Movement).
• Investment Gains (Losses) (after adding investment market prices): Guide.
• Foreign Exchange Gains (Losses) (after creating foreign currencies): Guide.
• Fixed Assets - Depreciation, Fixed Assets - Loss on Disposal (after creating depreciation or disposing fixed assets): Depreciation, Disposal.
• Intangible Assets Amortization, Intangible Assets - Loss on Disposal (after creating amortization or disposing intangible assets): Amortization, Disposal.
• Inventory - Sales, Inventory - Cost (after adding inventory item): Sales, Cost.
• Late Payment Fees (after creating fees): Guide.
• Rounding Expense (after enabling rounding on invoices): Guide.

This guide provides an overview of how to customize and organize your Chart of Accounts in Manager.