Skip to main content

Manage Chart of Accounts

Use the chart of accounts to group and classify actuals and budgets for P&L and Balance Sheet reporting.

Mick Devine avatar
Written by Mick Devine
Updated over 12 months ago

The chart of accounts is an index of the accounts in your general ledger and you'll use these to group and classify actuals or budgets for P&L and Balance Sheet reporting. If your organisation is linked to an accounting system these will be synced as linked accounts into Calxa but you can also add additional unlinked accounts and later sync those to your accounting system.

  1. Navigate to Settings -> Organisation Settings -> Chart of Accounts.
    ​

  2. Select your organisation from the Selected organisation dropdown.
    ​

    Chart of accounts menu

  3. The chart of accounts menu can also be accessed via the EDIT and Edit accounts shortcuts in the Budgets & Actuals layout.
    ​

    Edit accounts shortcut menus in Budgets & Actuals view

Unlinked Accounts: 💬 Accounts that you create in Calxa and are not synced to your accounting system are considered unlinked accounts. Unlinked accounts can be edited inline directly in this view.

Linked Accounts: 💬 Accounts that are synced from your accounting system are read only and should be edited in your accounting system then synchronised with Calxa. See the following help articles for additional details.

Sub-Accounts: 💬 Sub-Accounts are a budgeting tool that help you split a single accounts budget into multiple parts. They can be added to Linked or Unlinked accounts, but they are not displayed on reports. See the Sub-Accounts for Budgets help article for additional details.

Add Accounts

  1. Click ADD ACCOUNT
    ​

  2. Enter details for the new account. Each field is editable as either a dropdown or text field.

    1. TYPE: classifies the account type as either Income, Cost of Sales, Expense, Other Income, Other Expense, Asset, Liability or Equity.

    2. NUMBER: the account number is a unique identifier for the account, so it is required and must be unique. This is also the primary sort field for the chart of accounts on reports and other menus.

    3. NAME: the name of the account that will be displayed in reports.

    4. TAX CODE: this defines the default GST, VAT or Sales Tax rate that will be used for this account. See Edit Tax Codes below for more details.
      ​

  3. To add multiple accounts click ADD ANOTHER ACCOUNT as required.
    ​

  4. When complete click ADD ACCOUNTS
    ​

    Animation showing add accounts flow

Tip: 💡Accounts vs Sub-Accounts when Budgeting

  • Use Sub-Accounts when you want to budget on multiple items but keep your accounting and reporting for actuals simple with one primary account.

  • Use Linked or Unlinked Accounts when you need to report on the detailed budgets entered or have separate handling for Tax and Timing when Cashflow Forecasting. Keep in mind accounts can also be grouped and summarised using an Account Tree.

Add Sub-Accounts

  1. Search or find the account to add sub accounts to and click the icon
    ​

  2. Rename and Reorder as required and SAVE CHANGES​


    ​

    Animation shows adding a sub-account

Search and Filter Accounts

Use SEARCH, SORT BY and FILTER to find specific the accounts you want to edit.
​

Animation showing account search and filter options

Edit Accounts

Edit the account fields as required and click SAVE CHANGES.
​

Animation showing edit account flow

Sync Account to Accounting System

Unlinked accounts in Calxa can be synced into your accounting system and become a linked account. Click the link icon and select YES, SYNC ACCOUNT.

Animation showing an account being synced to Xero

Merge Accounts

Unlinked accounts can be merged into another account. In this case one account will be deleted and the budgets & actuals from both accounts can be merged. Click the merge icon, set the required merge properties and click MERGE ACCOUNT.

Merge Notes: 💬The source account will be deleted with its budgets being merged into the destination account according to your preferred setting.

You can keep choose to keep the source or destination budgets in which case the others will be deleted, or you can merge the values from both in which case any budget formulas will be deleted.

See Sub-Accounts for Budgets for details on the handling of merging accounts with Sub-Accounts.

Tip: 💡use the merge account feature if you added an account to Calxa and later added the same or similar account in your accounting system.

Edit Tax Codes

Calxa is not a replacement for your accounting system and does not handle tax when adding transactions. Each account is assigned a default tax code for the purpose of Cashflow Forecasting. When forecasting Calxa will add GST/VAT/Sales Tax to your forecasted budgets at the rate provided by the default tax code.

Manual organisations only: ⚠️ Tax codes cannot be edited for organisations linked to Xero, MYOB or QuickBooks. For linked organisations tax code changes should be made in your accounting system.

  1. In any of the TAX CODE dropdown menus select Edit Tax Codes
    ​

  2. Each tax code requires:

    1. NAME: to identify the tax code in a list.

    2. TAX RATE: to apply this percentage GST/VAT/SALES TAX to forecast reports.
      ​

  3. To add additional tax codes click ADD ANOTHER TAX CODE
    ​

  4. Click SET TAX CODES when all changes are complete.

Did this answer your question?