Create and Edit an Account

Written by Nick Miles

Last published at: March 30th, 2020
  1. Select Accounts from the Home page.

  2. Click Create.
  3. Enter an Account Number (use numbering system from your chart of accounts), an account Name, a Description, and select an Account Type from the drop-down menu.

    If you select an income account type, it cannot be changed to a balance sheet account type (and vice versa) once the account is created.

  4. Click Create.
  5. Now that the account is created, click Edit to configure additional settings.
  6. Configure the following settings:
    • Description - Internal account description
    • Has Checks - This flag indicates if checks can be written from this account
    • Subof Account - Indicates the parent account linked to this account
    • Rev Share Parent - Indicates the account used during revenue share - generally a pool account
    • Statement Account - Indicates the statement account this account is part of
    • Vendor - Indicates the vendor linked to this account - generally the vendor who provides an account investment statement
    • Manage Cash- This flag indicates if this account participates in cash management.
    • Manage cash only applies to Asset and Liability accounts.
    • IRS 1099 Field - This flag is used for 1099 designation - generally corresponds with the box this account would fall into
    • Exclude From Statement - This flag indicates if this account should be excluded from fund statements
    • Restriction - Indicates the general restriction on account balance
    • Financial Views - Indicates the financial views this account is part of
    • Available For Cash - Indicates the available percentage of account balance - default is 100%
    • Check Format - Select a default check format for the account.
  7. Click Save.