To configure your Profit and Loss accounts, go to Reports (top bar) > P&L (any P&L Report from the left sidebar)> Edit (top right) > Edit Report > Configure base Profit & Loss (near top middle).
To configure your Balance Sheet accounts, go to Reports (top bar) > Balance Sheet (any Balance Sheet Report from the left sidebar)> Edit (top right) > Edit Report > Configure base Balance Sheet (near top middle).
Use the Configure settings to:
- Rename the pre set Financial Categories for Financial Accounts, Groups and Sub Groups
- Create & re-order new Groups of accounts within Categories, or delete existing ones
- Create & re-order new Sub Groups of accounts within Groups, or delete existing ones
Any renaming, moving, or re-ordering that you do here will transfer instantly to reports and graphs for that entity. Groups and Sub Groups will be visible throughout the system, available to select in Reports, graphs and charts (found in Dashboards) and for use in Presentations.
To configure reports for a consolidated entity, start with the parent entity and then – if desired – copy names and groups across to each subsidiary. See this article for how to copy settings from a consolidated parent to a subsidiary.
To edit account Categories and create Groups and Sub Groups within them:
Click on a downward arrow or use the Expand all button (both circled below) to see which of your accounts are currently included in that category.
Note that accounts are colour coded such that assets, liabilities, equity, revenue, and cost are each assigned a different colour. This makes it easy to ensure each account stays in the correct Category type.
See this article for how to move accounts.
To rename a Financial Category:
- To rename any category, click on the pencil to the right of the name, next to the expansion arrow.
To create a new Group of accounts:
- Tick the boxes at the left of the account or accounts you wish to group, then select “Create Group”, enter a name for the group, and save it.
To create a new Sub Group of accounts:
- Select accounts already in a Group and choose “Create Sub Group” at the top of the page.
To remove an account from a Group or Sub Group, use the ungroup arrow button next to the account.
To move a Group or Sub Group within a Category, click the twelve dots just to the left of the group name. Drag the group to the new location and drop.
To move a Group or Sub Group to a new Category, it is necessary to re-create the gorup. Click the box to the left of the group to select all members of the group. Click the Move to button (top of page) and select the new location. Create the new group name and delete the old one.
To delete an existing Group or Sub Group, click the picture of the bin at the right of the group name. Then select Delete.
When a Group is deleted, all accounts in the Group will automatically be moved to sit directly under the main Category heading. Accounts can never be added or removed from the P&L or Balance Sheet. Deleting a group just moves the accounts out of the group / subcategory and into the main category.
All changes are automatically saved and flow through the entire system instantly.