You will see a list view of all accounts. From here you can modify, import, remove, and create accounts as per your need.
To clarify this view, now you can click on the Group By button and select Account Type.
To Edit an Existing account:
Now you can click on an account will you want to open up a short view of the account that displays the Code, Name, and Type. If you want to make any changes then click on the edit button. Once all changes have been completed now click on the Save button.
To delete an account:
Now if you want to delete an account, select the checkbox next to the account’s code. At that time, click the Action drop-down menu and choose the ‘Delete’ option.
To create a new account:
Now you can create a new account to click on the create button.
Now you can enter the following fields at the same time creating an account like code, name, type, default taxes, group, company, deprecated, etc.
Code: This field indicates the unique identification number of account types and may also be coded with further information.
>>Assets Accounts – codes varies from 1000 to 1999
>>Equity Accounts – codes varies from 2000 to 2999
>>Liability Accounts – codes varies from 3000 to 3999
>>Income Accounts – codes varies from 4000 to 4999
>>Expense Accounts – codes varies from 5000 to 5999
Name: This field indicates the name of the account, which shows what types of transactions are divided under this account.
Type: This field indicates the type of accounts, which is detailed below in the ‘Choosing an Account Type’ section.
When you fill all fields, now click on the Save button.