Core of any accounting system is ledger book. this book contains all accounts and transaction of a business. The list of categorized accounts in the general ledger is called the chart of accounts. All vouchers and journal in double entry accounting applications will use accounts in ledger book. list of accounts could be in a simple list or categorized levels regards to their identity accounting equation.
Chart of Accounts in iGreen
In igreen accounting software, the accounts part is displayed as a tree. This display mode makes you have a better imagination of the categories of accounts at a glance.
As you see in this photo, default main categories of accounts in iGreen accounting is same as international accounting standard:
- Assets
- Liabilities
- Equity
- Income
- Cost of Sales
- Expenses
- Other Expenses
Advantage of COA in iGreen
By using igreen accounting, you will experience two main advantages in the chart of accounts section.
- Tree display of accounts and a better idea and understanding of the position of accounts and categories
- access to unlimited levels of accounts and create and categorize accounts at any number of levels you need
How to Add New Account
You can add the new account under the selected category by selecting the desired category and then write the name of the new account and click [SAVE].
For example, in the image below, we have selected [Accounts Payable] and in the yellow box, the parent of the new account will be [Accounts Payable], so you can write the name of the new account in the orange box under the yellow box.
