When you install Accounting Seed, you are provided with a skeleton Chart of Accounts as part of the install. It is expected that you will need to add, delete and/or edit these records to create your own Chart of Accounts.
Here’s how we recommend editing the installed Chart of Accounts.
- Delete the GL Accounts that came with our installation package and that do not have any Transactions, Financial Cubes, or Accounting Settings associated with them.
- If GL Accounts have transactions posted to them that you need to keep, and therefore cannot delete, you can rename the GL Account that cannot be deleted.
- Upload the rest of your Chart of Accounts (excluding the GL Accounts that you have already renamed in Accounting Seed).
- For any GL Accounts associated to an Accounting Setting, you can replace that with the right GL Account from your uploaded list of accounts. If you do this, be sure to delete the GL Account that came with the Accounting Seed Installation.
Once your Chart of Accounts contains the correct GL Account records, you will need to ensure the Type, Sub Type 1, and Sub Type 2 values are correct for each GL Account. See Change Values for Sub Types on GL Accounts for instructions.
If you elect to set up Cash Flow categories, then you will do this by adding and editing GL Account records of type Cash Flow. See the Cash Flow Statement Setup article.
Note: The only time Accounting Seed automatically creates GL Accounts is during the initial installation process. This means that for all subsequent Accounting Seed upgrades your Chart of Accounts will remain unchanged.
Below is the Skeleton Chart of Accounts included with the installation of Accounting Seed. This does include the GL Accounts for the Cash Flow categories. It also illustrates how the Type, Sub Type 1, and Sub Type 2 field values could be set up.