The heart of any accounting system. An account is set up for each item that you want to keep track of. The chart of accounts is the group of all of the accounts within the accounting system. You can add to or modify the chart of accounts through this screen.

To add a new account, press the New button on the toolbar or press the Ctrl+A keys. This will prepare the screen to accept the new account information.

Account Number
The six-digit account number. The account number must consist of numeric characters. Any number entered with less than six digits will be padded to the right with zeros. Choose the account numbers carefully. The accounts should be set up so that the same types of accounts have account numbers that are in sequence. For example, you could set up your current asset accounts to range in number from 100000 to 149000, Fixed Asset accounts to range in number from 150000 to 190000, etc.

Description
The description of the account. The description can be up to 30 characters in length and can contain alphabetic characters or numerals. The account description is what makes the account number meaningful. For example, you could have an account numbered as 102000 and its description as "Checking." Without the description, it would be hard to remember the purpose of this account.

Account Type
The account type describes to the system the type of account being set up. Each account must be identified with an account type. The account type is used to help format the Balance Sheet and Income Statement reports.

Bank Account
Check this box if this account is a bank account that will need to be reconciled. This will allow this account to be reconciled using the Reconcile Account function. Bank accounts are also used in the check register and check printing screens. Only bank accounts will available as selections in these screens.

Department Required
Check this box if a department number will be required whenever this account is used in a transaction.

Well Required
Check this box if a well ID will be required whenever this account is used in a transaction.

1099 Rental Account
Check this box if this account is the account used when lease rentals, delay rentals or any kind of rent payment is made that needs to be reported on a 1099 form. The system will use the information posted to this account to prepare 1099s at end-of-year.

Editing existing accounts

An existing account can be modified by using the same screen. Instead of choosing the New button, just make the desired changes to the account displayed. Before editing a record, you need to choose the account record that you want to edit. This can be done by using the navigation buttons in the toolbar, First, Previous, Next and Last or by using the account pick list by clicking on the List button. Once you have changed the account record, click on Save to save the changes. If you do not want to save the changes, click on the Revert button.

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