Create a new account head

Account heads are the basis for the preparation of a trial balance, to show related transactions under a single head at one place. In Acting Office, you can create an account through couple of ways-

From the trial balance page

While you are already on the page of creation of a trial balance, this option could be quite handy. Follow below steps:

Account creation from trial balance page

1. Click on '+ Account'. A quick shortcut to view chart of accounts is also available to ensure avoidance of the creation of duplicate accounts. Add account side panel opens.

2. Select relevant account type based upon nature of head that you are trying to create.

3. Enter an account name.

4. The system will generate a code automatically based upon the next availability, but you are also allowed to assign a new desired code to that account.

5. After that, you can tick the checkbox if the account is non-taxable in case of incomes or disallowable in case of expenses to give their auto effects in the corporation tax return.

6. Finally, click on 'Save'.

From trial balance preparation screens through quick search

While you are searching for an account in the trial balance creation pages, you have a quick button to create the same, on click of which a similar Add account side panel opens up.

Quick account creation from trial balance search

From the settings menu

1. You can also navigate to the settings menu located at the top right corner and select 'Chart of accounts' from the list.

   

   Navigating to chart of accounts
2. Click on '+Account' button to add an account. This opens up our Add account side panel. The rest of the steps are quite similar to the ones mentioned above.

   

   Adding a new account

• You also have additional options to archive, edit or delete account codes from our chart of accounts.

  

  Additional options in chart of accounts
• You can also create a complete bunch of fixed asset accounts by clicking on 'Fixed asset register' button and mark the corresponding checkbox to create accounts for a fixed asset mentioned in the list. Use the edit button to rename the account heads for that fixed asset.

  

  Creating fixed asset accounts

Hope this is helpful.

52MB

Account head creation

Open