Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Chart of Accounts creation options which is commonly known as General Ledger (GL).
Before we begin, let us understand about the need of Chart of Accounts and the usage of this particular activity.
Creating Chart of Accounts appears to be easiest work in financial accounting but in fact it is the toughest work because chart of accounts this is a backbone of any Financial Accounting. Carefully crafted chart of accounts makes your accounting easy, presents your financial statements in easy to understand formats and helps you in taking care of your statutory compliances.
If you are a corporate body, you have to follow various National and International Accounting Standards for preparations and presentation of your financial statements and here Chart of accounts plays a big role. You need to create your GL and group them carefully taking into consideration the requirements of various accounting standards with regard to presentation of Financial Statements.
To make your task easy, AlignBooks has tried to provided you ready made chart of accounts crafted by experienced professionals. You can Add a new account to already created chart of accounts. You can also edit or delete an already created account with required authorization.
Remember that in Company Setup you have defined some of the GL as you default ledgers for automize. You can edit and change the name of those default ledgers, but cannot delete them.
The key functions of a Chart of Accounts Module are:
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Creation of a New Account Ledger;
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Modification of an existing Account Ledger;
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Deletion of an existing Account Ledger.
We will be going through the each of these set of information in detail.
New COA
If you are in Finance Drop Down you need to select
and the screen which appears looks like this;
You can see the
option at top right of the screen. Click on this option and you will be directed to the relevant account creation screen.
Let us input the new COA details:
 Name of Ledger : Here you input the name with which you are used to identify your Ledger. |
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 Code : This is a system generated automated code to uniquely identify a Ledger. Codes are generated based on Groups under which new account is to be created. Hence, code will be displayed only after you select a group of new ledger. |
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 Is Sub-Ledger : Select “ON” if you want to link the new account to an existing GL Account. This will allow you the liberty to analyze the multiple sub-ledgers as one Ledger. |
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 Under Ledger : Select the Ledger from the drop down list which you want to be the main ledger under which this ledger will display in Reports. This field will be available if the "Is Subledger" is kept - "ON". |
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 Under Group : Select from the drop down the required Group of General Ledger in which the GL is to be grouped. If your desired Group does not exist in the menu, you can create a New Group by clicking on  option within the dropdown menu. You can also Edit or Delete a Group from here. Select a Group to be edited /deleted and then click on  . The group will be opened in Edit mode and you can edit it and save by click on  . You can delete it by click on  . |
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 Inactive : Select “ON” if you want to make a General Ledger or Sub Ledger inactive. During any business transaction such inactive Ledger names will not appear in your chart of accounts. You can reactivate it again by selecting “OFF”. |
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 Type : Select from the drop down the nature of Account i.e. whether it is a Cash Account or a Bank Account or a General Ledger Account. This classification will help you in capturing additional information at the time of input in vouchers and generating your day books. For example, if account type is ‘Bank”, at the time of input, the system will prompt for addition details like cheque no. etc. and you can generate a Bank Book. |
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 Account Number : Input here the Bank account number for this Ledger, you can initiate direct payment into this account if your Bank Account is integrated with ICICI Bank. |
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 RTGS / IFSC Code : Input here the RTGS / IFSC code for the bank/branch. |
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 Bank Online Payment : Select the relevant option from the drop down list when you want to Initiate payment request with OTP (when you bank account is integrated with ICICI Bank). Options are "Notrequired", "OTPBased", "NonOTPBased". This field will be available if the "Type" Selected is "Bank".
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 Classification : Enter the sequence number for the special report for Purchase Register Custom. |
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 Is Loan Account : Keep this option "ON" if the ledger is Loan Account. |
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 Address : Specify the Address for the ledger. |
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 PAN : Specify the PAN for the Legder. |
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 Interest Rate : Enter the Interest rate Applicable for calculation. |
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 Calculation On  : Select the calculation option from the drop down list for interest : Simple or compound. |
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 Attributes Applicable : Select “ON” if a attribute is required for this ledger while making transaction. Attributes will be displayed here only if you have set Finance attributes in Configuration ->Company Setup ->Finance. If you have set 3 attributes in your setup, all three attributes will appear here and you may keep any one as “On”. |
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 Save Master : Click on the button to save the document prepared by you. |
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 Clear : Click on the button to clear the form without making any changes. |
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 Delete Master : Click on the button to delete any existing document. |
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 Exit : Click here to exit the form without making any changes. |
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We are now back to the main screen for the Chart of Accounts.
If you wish to edit/delete the already visible Account data in the list you can do so, please follow the following steps:
Edit: Click on to edit the Account detail. The account details will be opened in edit mode, can make the required changes and click on to save the changes made by you. If you think that this record is no more required, you can delete the record by clicking on .
Delete : If you wish to delete a account data, Click on
and confirm the deletion. Note that if you have created Sub ledgers under a Ledger, the System will not allow you to delete this record unless you delete all the sub ledgers under the ledgers. It is advisable not to delete a GL rather you can always opt to make the GL “Inactive”.
Bulk Delete : If you wish to delete ledger account data in bulk then enable the check box 
against each delete ledger account and Click on 
and confirm the deletion. All vendor data will be removed which are not used in any transaction.
Refresh : Click on 
to refresh the list with the changes made by you.
Export : Click on
to Export the data as visible in the list to an Excel Sheet.
Search : If you looking for any particular Ledger, enter here a text/code matching to Ledger name, code, group or nature. The system will short list the ledgers with matching text.
Group : If you want to Group your display on any particular field, hold that field and drag a little up outside the Grid, your display will be grouped on that field. To remove the grouping drag the field back into the Grid column.
Sort : If you want to sort data on a particular field, click on the label of that field, your data will be sorted on that field. You can reverse the order of sorting by just Double click on the label of that particular field.
Click on
to Exit from the Chart Of Account.
