Adding a New Account - Step-by-Step Transcript
Step 1
Adding a new account in SoftLedger
You can easily upload any structure (your chart of accounts, customers and vendors, business dimensions – such as cost centers, products, funds, properties, offices) into SoftLedger.
In this walkthrough we will add a new cash account for Abacus Europe.
Step 2
Navigate to Financial > Accounts to review, update and report your chart of accounts.
Step 3
We can see each account, its type and sub-type (very useful for report building) and which Locations are able to use.
Note only Abacus Global can use the 1000 Cash account.
Step 4
Left-click +New to add the new 1003 Cash Abacus Europe account.
Step 5
Enter the account number/ID, name and description
Step 6
Select from picklists (and update to add your own as needed) the account type and sub-type.
These attributes drive and update all existing reports and analysis, and provide a foundation for future fast report building.
Step 7
Confirm which Location(s) should use this account, natural balance and other attributes such as Revalue Forex (for month end close, calculating cumulative translation adjustment (CTA) and managing Accumulated Other Comprehensive Income ).
Learn more about how SoftLedger automates CTA here.
Step 8
We have added 1003 Cash Abacus Europe into the chart of accounts.
Step 9
Use smart filters on structures and dimensions to drive dynamic lists, reports, analysis and audit schedules.
Save views for reuse.
Step 10
Our new 1003 Cash Abacus Europe is available in reports and for receiving journal, invoice and bill transactions.
We can connect this cash account to our bank feeds.
Step 11
Ready to build your chart of accounts in SoftLedger?
Let’s talk? Book a demo and we can discuss and demonstrate how SoftLedger will work for you.
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