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Maintaining the Chart of Accounts

When you make an income or expense entry, you apply it to an account category. These account categories are included in your Chart of Accounts. It is important to categorize your entries properly. Therefore, you should consult with your accountant or tax professional before adding or altering items in the company's Chart of Accounts. Setting up an account incorrectly can cause an out-of-balance condition.

The Chart of Accounts Maintenance dialog box shows all active accounts. If an account is inactive but available, it does not appear in this list. To activate an inactive account, see Adding Inactive Accounts to the Chart of Accounts. To view a complete list of all accounts in the company's Chart of Accounts (both active and inactive), view the Master Chart of Accounts report in the Operational section of the Report Manager dialog box.

To view active accounts in the Chart of Accounts:
  • Click Chart of Accounts in the Company section of the task bar on the right.
To add a new account to the Chart of Accounts:
  1. Click Chart of Accounts in the Company section of the task bar on the right.
  2. In the Chart of Accounts Maintenance dialog box, at the bottom of the dialog box, specify whether this action affects only This company or All companies.
  3. Click Add.
  4. In the new row, type a unique name in the Account column.
  5. Specify a Group from the list: Current Asset, Property, Plant & Equip., Other Asset, Current Liability, Long Term Liability, Equity, Income, or Cost of Goods.
  6. Specify a Type from the list: Payroll, Payroll Deduction, Standard, or Tax.
  7. If the new account is a sub-account of a main account, then select the main account from the Sub Account For list: Accounts Payable, Accounts Receivable, Accumulated Depreciation, Advertising Expense, Bad Debt, Bank Charges, or Building.
    The sub-account must be of the same type as the main account.
  8. If the account is for deductions, select the appropriate Exemptions check box: FWT (Federal Withholding), SWT (State Withholding), SS (Social Security), or MED (Medicare).
  9. Continue adding new accounts as needed.
  10. To save the new account(s), click OK.

You can edit information, such as the name, for accounts you added. You cannot make certain changes to accounts with transactions applied.

Note: Brass Jacks Bookkeeper automatically assigns the account numbers used for journal entries and displayed in reports. These numbers cannot be edited.

To edit account information:
  1. Click Chart of Accounts in the Company section of the task bar on the right.
  2. In the Chart of Accounts Maintenance dialog box, at the bottom of the dialog box, specify whether this action affects only This company or All companies.
  3. Select the account row to edit.
  4. Make any necessary changes.
  5. If Brass Jacks Bookkeeper informs you that you can't make a change, click OK.
  6. If necessary, repeat steps 3-4 to make other changes.
  7. To save the updated information, click OK.

You can’t remove accounts from your Chart of Accounts that are standard with Brass Jacks Bookkeeper (such as Accounts Receivable) or that you have added and included in transactions.

To delete an added account that is not included in transactions:
  1. Click Chart of Accounts in the Company section of the task bar on the right.
  2. In the Chart of Accounts Maintenance dialog box, select the account to delete.
  3. At the bottom of the dialog box, specify whether this action affects only This company or All companies.
  4. Click Delete.
  5. In the confirmation dialog box, click Yes.
  6. If Brass Jacks Bookkeeper informs you that you can't delete this account, click OK.
  7. To save the changes, click OK.