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Creating New Accounts in a Multiple-Company Chart

Creating a new account in a multiple-company client is performed as follows:

  1. Refer to the financial statement samples. Is the account you require already listed? If so, make a note of the account number and proceed to step 5.

    If the account you require is not shown, identify the section the account is to appear in and pick an account number in that range.

  2. Open the Main Master Chart (client code “MAIN”) using Menu Eight Option 4 (Change Clients).

  3. Use Menu One Option 2 (Setup/Change/Delete Chart Of Accounts) to create the account required:

    Usually, all that needs to be entered is the Account Code, Account Name Line One, Account Name (Short) and Expected Sign. All other fields can remain with the default settings.

    Expected sign is as follows: revenue (sales), liability or equity accounts: credit (“C”); expenses or assets: debit (“D”).

    Press F1 (Save) to save the account.

  4. Switch back to your client's chart using Menu Eight Option 4 (Change Clients). Menu Eight Option 5 (Display/Print Clients) will show the clients on the system and their codes.

  5. Go to Menu Two Option 1 (General Ledger Posting):

    Accept the default date.

  6. Enter the account code you have chosen. The system will prompt: Transfer 7501 -> Acc/Fees From Main Chart Y/N (or similar):

    Choose Y.

    The account will then be copied to the current chart and the various subsidiary accounts (.01 to .16) will be automatically created.

    The account is then ready to use.

  7. Exit General Ledger Posting by pressing Esc (Exit).

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