Chart of Accounts

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When you create the first accounting period for a client, you select the chart of accounts that will be used. The chart of account cannot be changed unless you delete the first accounting period and recreate with a new chart.

The Chart of Accounts Grid

As with other master pack data, the records are drawn from the master pack as and when required. Hence, when initially viewing the chart from within the client data you are in effect viewing the master chart. As indicated below, you may customise this chart for the client, adding, editing or deleting accounts and sub accounts.

To view and edit the chart, load the accounting period and select Chart of Accounts from the Reference area of the Task Bar. The Chart of Accounts grid is displayed.

The default view in this grid includes the columns shown in the above screenshot.  However, as with most grids in CCH AP you can customise the view.

You can edit the chart of accounts directly in the grid.

Topics in this Section

  • In addition to a chart having a fixed account length it will also gave a fixed length for sub codes. For example, our 3 digit chart has a code length of 3 and a sub code length of 2. For this chart wherever you type a code of 3 digits you are referring to the main account code and when you type a code of 5 digits you are referring to the sub code of an account.
  • You can delete any Nominal Code (Local/Master) within an accounting period provided that the account does not contain transactions. Local accounts are identified by this   icon, which appears in the Local column.
  • You can Edit any Nominal Code within an accounting period which then shows as a Local Account. Local accounts are identified by this icon, which appears in the Local column.
  • If you have edited the details of an account that was drawn from the master chart, you can restore the details to the defaults contained in the master.
  • Rounding and Suspense allows you to specify which accounts will be used for predefined actions carried out by the system. For example, when the system rounds the trial balance it may not balance due to rounding differences. The system corrects this by adjusting nominal accounts in the profit and loss and balance sheet areas to ensure that the rounded profit figure is correct and the balance sheet balances. The accounts that will be adjusted are shown by the associated role in the Rounding and Suspense window.