Standard Chart of Accounts
For general information about code lists, please refer to the Basic Settings chapter, section Code Lists.
Each organization type has a standard chart of accounts that defines the list of synthetic accounts. This list is therefore fully pre-populated and serves as the basis for generating standard financial reports such as the balance sheet and the profit and loss statement. Users cannot modify or delete existing entries (with the exception of pre-configured off-balance-sheet accounts in account class 7). You may add your own synthetic accounts for internal and off-balance-sheet tracking.
This list is used when creating your own account chart.
You can open the list from the "Tools" menu by selecting "Code Lists -> Standard Chart of Accounts".
The toolbar at the top of the table contains a number of buttons whose functions are described in the dedicated chapter "Program Controls".
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Main Panel
Click the "New" button or press the keyboard shortcut Alt+N to open the form for a new record.
The toolbar at the top of the form contains a number of buttons whose functions are described in the dedicated chapter "Program Controls".
Synthetic Account: A three-digit number identifying the synthetic account.
Name: Required field; may contain up to 255 characters. This field generally identifies the record in overviews, printed reports, and selection lists, so it should describe the record in a unique and meaningful way. If you configured foreign languages during initial setup, clicking the button
allows you to fill in the "Name" field in the selected foreign languages. These language variants of the name are printed on documents when using foreign-language printing. Clicking the button
closes the foreign-language name fields.
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Tab "Basic Information"
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Account Type
Use the available options to select the appropriate type:
Balance sheet: This type is assigned to accounts in account classes 1–4. Data is transferred to the balance sheet. For this account type, the "Account Kind" field can be set to:
asset
liability
asset + liability (by selection)
asset/liability (based on balance)
liability – net result
2. Income statement: This type is assigned to accounts in account classes 5 and 6. Data is transferred to the profit and loss statement. For this account type, the "Account Kind" field can be set to:
expenses
revenues
3. Closing: This type is used during the year-end closing process when closing accounts from the old year and opening accounts for the new year. The relevant accounts are 701, 702, and 710. For this account type, the "Account Kind" field can be set to:
opening of books – for account 701
closing of books – for account 702
transfer of net result – for account 710
4. Off-balance-sheet: Off-balance-sheet accounts in account groups 75 through 79 are used to track important facts that are essential for assessing the property and legal situation of the accounting entity. These relate primarily to the use of third-party assets to which the accounting entity does not hold ownership rights, and similar matters. For this account type, the "Account Kind" field cannot be set.
5. Internal: Select this type if you wish to track certain data within the internal accounting records. The form, organization, and focus of internal accounting is determined by the accounting entity itself. For this account type, the "Account Kind" field cannot be set.
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Account Kind
Use the available options to select the appropriate kind:
Asset: This account kind represents the company's assets and appears on the assets side of the balance sheet. Used with "Account Type": balance sheet.
Liability: This account kind represents the company's liabilities and appears on the liabilities side of the balance sheet. Used with "Account Type": balance sheet.
Asset + liability (by selection): This kind is used for account 220/221 – Bank Accounts, since this synthetic account can function as either an asset account (in most cases) or a liability account (e.g., an overdraft). Therefore, when creating your own account chart, you must manually specify whether this account is an asset or a liability. Used with "Account Type": balance sheet.
Asset/liability (based on balance): This kind is used for certain accounts in account class 3, which can be classified as either asset or liability accounts depending on their balance. The balance value determines whether they appear on the assets or liabilities side of the balance sheet. Used with "Account Type": balance sheet.
Liability – net result: This kind is used for account 431 – Net Result Pending Approval, which appears on the liabilities side of the balance sheet (with a + or – sign). Used with "Account Type": balance sheet.
Expenses: This account kind is assigned to accounts in account class 5; balances of these accounts appear in the profit and loss statement. Used with "Account Type": income statement.
Revenues: This account kind is assigned to accounts in account class 6; balances of these accounts appear in the profit and loss statement. Used with "Account Type": income statement.
closing of books
This account kind is assigned to account 702 – Final Balance Sheet Account; it is used during year-end closing when closing balance sheet accounts from the old year.
Used with "Account Type": closing.
Transfer of net result: This account kind is assigned to account 710 – Profit and Loss Account; it is used during year-end closing when closing income statement accounts from the old year. Used with "Account Type": closing.
opening of books
This account kind is assigned to account 701 – Opening Balance Sheet Account; it is used during year-end closing when opening balance sheet accounts for the new year.
Used with "Account Type": closing.
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Track Balance
Track Balance: For account 311 – Trade Receivables and account 321 – Trade Payables, this option is set to
which means that these accounts in your account chart will be configured this way automatically — they can be matched and will appear in the "Balance" report, which lists outstanding receivables and payables.
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Tab "Texts"
The "Texts" tab is included in all code lists and all record lists. It contains two fields where you can enter information according to your own needs. Completing these fields is optional.
Description: You can provide a more detailed description.
Note: The note serves to alert users to any special characteristics of the record or to highlight anything other users should be aware of when working with the record.
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Tab "Administration"
This tab can only be filled in for records that you have added yourself.
The "Administration" tab contains information about the time-based validity and visibility of the record in the code list. The validity period is specified as a range of calendar years. The record is valid within the specified range; outside of that range, the record is inactive and will not appear in the code list at all. By restricting the validity period, you ensure that users are not slowed down by scrolling through obsolete records during day-to-day use of the code list.
Because time-based validity is tied to calendar years, it does not correspond to fiscal accounting periods.
Valid from: The calendar year from which the record becomes valid.
Valid to: The calendar year in which the record's validity ends.
If you want the record to have unlimited validity, leave the default value "0" in the Valid from field and "9999" in the Valid to field. The record will then be usable in all calendar years and will appear in the list for every calendar year.
If you enter "2016" in both the Valid from and Valid to fields, the record can only be used in the year 2016 — it will only be visible in the list during that year (see accounting period in the sidebar navigation header).
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