Change the chart of accounts and funds

The chart of accounts lists every account in the books, grouped into assets, liabilities, fund balances, income and expenses. Funds are kept alongside, each with its own balanced books.

Steps

To add an account:

1. Open Books, then the books you want.
2. Under Chart of accounts, open Add an account.
3. Type the Account number, for example 5150, and the Account name.
4. Choose the Kind of account.
5. If it belongs under another account, choose it in Sits under, for example Donations: building under Donations.
6. Choose its T3010 line: where its total goes on the charity return.
7. Press Add the account.

Change or retire an account

1. Press the account's name in the chart.
2. Change what you need and press Save the account.
3. To stop using it, press Retire the account. It keeps its history but can't be used for new entries. Bring it back undoes this.

Add or change a fund

1. Under Funds, open Add a fund.
2. Type the Fund name and a Short code, for example BLDG.
3. Choose How its money can be used: for general use, set aside by the board, restricted by donors, or endowment.
4. Press Add the fund. To change or retire a fund later, press its name.

Good to know

• An account's kind can't change once it has entries. Retire it and add a new one instead.
• A sub-account must be the same kind as the account it sits under.
• Restricted by donors means the donor set the purpose. That money can only be spent on it. See Fund accounting in plain words.
• Not sure which T3010 line? Leave it blank for now; your accountant can set it before year-end.