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Setting up your company file > Set up accounts > Setting up accounts
To create an account
1
Go to the Accounts command centre and click Accounts List. The Accounts List window appears.
2
Click New. The Edit Accounts window appears.
4
Select the account type from the Account Type list. The Account Classification field changes according to the selection you make. For more information on account classifications, see Easy setup assistant.
5
Enter a four-digit number for the account in the Account Number field. The number must be unique within each account classification.
6
Press Tab and type a name for the account.
7
Click the Details tab.
9
In the Tax Code field, select the tax code that you use most often with transactions that will be posted to this account.
10
If you are creating an asset, liability or equity account (other than an asset with the account type of Bank), select an option from the Classification for Statement of Cash Flows list.
12
[Detail accounts only] If you want to enter historical balances, complete the Last FY column on the History tab. That way you can compare the year’s monthly account balances with those of the corresponding months last year.
a
Click Budgets. The Prepare Budgets window appears.
c
Click Close.
14
Click OK when you have finished. The account now appears in your accounts list.
To group detail accounts with a header account
1
Go to the Accounts command centre and click Accounts List. The Accounts List window appears.
3
Click the Down button at the bottom of the window to group the account with the header located above it.
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