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Add, edit, delete, or set a default chart of accounts

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Summary

This guide explains how to add, edit or delete a chart of accounts in Sage 50cloud Accounts, as well how to set a default chart of accounts.

Description

When you first set up your company in Sage 50cloud Accounts, the nominal accounts and chart of accounts are based on the business type you select in the Active Setup Wizard.

If necessary, you can add, edit or delete a chart of accounts, as well as set a chart of accounts you want to be your default.

Resolution


Add a chart of accounts

  1. On the navigation bar click Nominal codes then click Chart of accounts.
  2. Click Add and enter a name for the new chart of accounts.
  3. Click Add, then click Save.

 NOTE: When the chart is first saved, if all of the nominal code ranges have yet to be added, the chart is listed as [PARTIAL] in the Chart of Accounts window.


Edit a chart of accounts

  1. On the navigation bar click Nominal codes then click Chart of accounts.
  2. Select the relevant chart of accounts, then click Edit.
  3. Click the Profit and Loss or Balance Sheet tab.
  4. Select the category you want to amend.
    • If required, you can amend the description of the category. When you run the management reports, this information appears as a heading. It's not possible to add extra categories.
  5. Amend the category account range information as follows:
    • To add a category account range - Click on a blank line then enter the name of the category and the low and high nominal code ranges.
    • To insert a line into the category account ranges, place your cursor where you want to insert the line and press F7 and click Yes.. You're advised that all categories move down by one line and you will lose information on the last line of this category. Each category has up to 80 lines.
    • To delete a line from the category account ranges, click the name and press F8.
    • To amend a category account, select the category you want to edit and amend the low or high range to those nominal codes you want to include.
  6. Click Save.

The "Floating" Nominal Accounts areas within the Current Assets and Current Liabilities sections are reserved for nominal accounts that can be an asset or a liability, depending on whether the account has a debit or credit balance, for example, bank accounts.

Removing nominal codes from your chart of accounts excludes them from your management reports but does not delete them from the Nominal Ledger. The changes you make are updated in the Preview window to the right of the range information.

 NOTE: If you receive an Incomplete chart of accounts message, you should check that the layout is complete.


Delete a chart of accounts

  1. On the Navigation bar, click Nominal codes then click Chart of accounts.
  2. Select the layout you want to delete and click Delete.
  3. Click Yes then click Close.

Set a default chart of accounts

  1. On the navigation bar click Nominal codes then click Chart of accounts.
  2. Select the relevant chart of accounts, click Make default then click Close. 

    Sage Accounts v21 - Select the layout you want to set as the default then click Current and click Close.

Have a problem with your chart of accounts? Read more >

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