A chart of accounts is used to organize the accounting transactions for a business or firm. It shows the accounts needed to run a business and generate financial reports. It lists every account that will be utilized in the general ledger of a business. One of the following categories—”assets,” “liabilities,” “equity,” “revenues,” and “expenses”—is assigned to each account in a chart of accounts:

A chart of accounts is important because it will be used as the basis for generating reports about the business.

In Localizebook, There are two ways of create Chart of Accounts:

1. Create Chart of Account
2. Import Chart of Account

Create New Chart of Account

Go to create Chart of Account in Localizebook:

1.Go to the Accounting menu.

2.Click on the Chart of Account.

3.Click on button +Add in the top-right of the page.

4.Enter the basic information of the chart of the account:

1. Account Type: Select your account type.
2. Code: Unique code chart of account.
3. Account Name: Name of your chart of account.
4. Local Name: Name of your chart of account in local name (khmer).
5. Is Sub Of: If you select the sub account, The chart account you select in Is Sub Of is a main account of your account that you are creating.
6. Note: Other comments or marks that relate to the chart of accounts.
7. Description: Describe your chart of accounts.

5.After filling all with your information:

1. Save & New: Save the chart of accounts and add another one.
2. Save & Close: Save the chart of accounts and close the window.
3. Close: Close window without saving the chart of accounts.