The chart of accounts: read it and change it

The chart of accounts is the list of headings your money is recorded under. There are five types: Asset (what you own), Liability (what you owe), Equity (what belongs to the owners), Revenue and Expense.

In the side menu, under Books, choose Chart of accounts (1). If the page is empty, press Create the chart to get a ready chart for Saudi businesses, then adjust it to suit you.

• A header account groups what sits under it and takes no postings, like Banks.
• A sub-account is where movements are recorded, like one specific bank account.
• Statement shows every movement on an account and its balance.
• The + button beside a header adds an account directly under it.

Press New account (2 in the picture above). Type the Arabic name, and the English one if you like. Then choose:

• Parent (1): the heading it belongs under. The account then takes its type from it, and a Code is suggested for you to keep or change.
• Subtype (2): decides where the account appears in reports. Choose Bank or Cash so it is offered when paying or collecting an invoice.

Press Save and you will find the account in its place in the tree.

Press Edit on the account. You can change its code, name and subtype. Its type and parent do not change once the account exists.

There is no delete button for an account. If you no longer need it, untick Active and save. It leaves the list, and comes back when you tick Show inactive.