All buttons but the Cancel button are disabled until you entre valid information. You must entre a new and unique account code.
You cannot duplicate account codes between departments. If the code is to be used by all departments, and you want to report at company level, leave the Department field blank.
When you click the New button the fields are cleared.
1. Select the account Type.
2. Enter an Account code. This has to be unique. It is a good idea to group accounts by type. For example 1000 to 1999 could be income accounts. 2000 to 2999 expense accounts. Balance sheet accounts (asset depreciation, etc) could be 3000 to 3999.
4. Enter a description of the account. Make this as clear as possible so it is easy to select the account from the selection list, and confirm it is the correct account when entering transactions.
5. If the account is for one department/division then enter the code.
6. If the account is to be included on the Profit and Loss report check the "Affects tax amount" box.
7. If transactions for this account are to be subject to GST check the "Apply sales tax" box. If any transactions are payments to suppliers that are not registered for G.S.T. the transaction will be completed with G.S.T. turned off.
8. If you intend to use the account check the "Active" button.