Managing the Chart of Accounts

Each company has its own structured list of general ledger accounts. MYOB Advanced provides you with the ability to define the chart of accounts that suits your company's needs. To define the chart of accounts in the system, you have to perform the following steps:

1. Plan account identifiers if they have not yet been defined for the configured company
2. Configure the ACCOUNT segmented key based on your planned structure
3. Add accounts to the chart of accounts (including the Retained Earnings and YTD Net Income accounts)
4. Optional: Restrict user access to accounts

This chapter describes the rules of configuring and maintaining accounts in the system. The chapter also contains information about the specific accounts supported by the system.