The chart of accounts is the single most important register in Financials, as most other registers are based on it. It consists of classes; control and subsidiary accounts. PANTHEON comes with a predefined basic chart of accounts, but you should customize it for your business needs before putting PANTHEON to actual use.

As said basic chart of accounts is included in the package. Consult your accountant before modifying the chart of accounts.

1. Modifying Chart of Accounts

When modifying the chart of accounts, take special care when:

- specifying foreign currency accounts,

- specifying subject accounts,

- including accounts in templates for automatic posting (for example, a new account for VAT has to be included in the template for VAT posting),

- including new accounts in financial reports,

- specifying which information is mandatory when posting to a specific account.

2. Chart of Accounts Settings

For detailed treatment see PANTHEON Guide.

3. Changing Code of Account

Four-digit account codes are used by default. Change code by adding zeroes whenever accounts with more digits are used. You can also change account code and customize the settings.

Example: Account 1200 is included in the Chart of Accounts but your company uses a five-digit Chart of Accounts. Move to line of account 1200 in the Chart of Accounts:

Add a zeroe to the code in Account field:

Clicking the following message will be returned:

Click to confirm change. All references to account 1200 are changed so as to reference account 12000.

4. Adding a New Account

Add a new account using or .

Copying an account is useful to have an account with matching settings. E.g.: Let us say you want to add a new account 12001 which differs from account 12000 only by name and account code.

Go to line of account 12000 anc click . This way you create a new line identical to the one you copied. The only difference being that it is marked with an asterisk.

Change account code and name and save changes.

The icon for a new record is different from copying because a new line is opened which you have to complete: