The Chart of Accounts is the accounts that are used when referring to any financial transactions in Re-Leased.
For users of Re-Leased with Client/Trust Accounting, and those using it stand-alone with no Xero connection, this is managed within Re-Leased, by clicking Settings on the green main menu, then Chart of Accounts in the Accounting section.
Chart of Accounts list
Adding a new Account
To add a new Account, click on the Create New Account button.
- Enter the Account Type from the dropdown list of standard types
- Enter the code, which must be a unique code that does not already exist
- Enter the Name, which must be a unique name that does not already exist
- Select the Default Tax value, from the dropdown
- Add a tick to Enable Payments to this Account only if this is a bank account, it should not be ticked for income and expense code types
- Click on Save Account
Note: The Tax types are defined in the Tax Type settings and are a list of the valid tax types for the Account type. These may change depending on the Account Type selected.
Importing an Account
To import a file with Account types:
- Click Import
- Use the Browse to select a file
- Verify that the contents are acceptable, by looking at the message panel on the right. If the check marks are green then the row will be imported.
- Click on Import to import the values
Editing an Account
To edit a Chart of Account type:
- Click on the Name from the list of Chart of Accounts.
- Make any changes to the Account Type.
- Make any changes to the Code, which must be a unique code that does not already exist.
- Make any changes to the Name, which must be a unique name that does not already exist.
- Make any changes to the Default Tax, from the dropdown.
- Include a Budget Cost Classification Type, to group Chart of Account for Budget purposes.
- Click Save Account.
- Alternatively, select Archive to deactivate the chart of account.
Archiving an Account
To archive an account:
- Click on the Name.
- Click Archive.
- When asked if you are sure, click Archive this account.
Restoring a Chart of Account
To un-archive an account type:
- Select the Archived Accounts tab.
- Click on the Restore link next to the name.
- When asked if you are sure, click Restore this account.