Create a main account
This procedures walks through how to add a main account to an existing chart of accounts. This recording uses the USMF demo company.
- Go to General ledger > Chart of accounts > Accounts > Main accounts.
- Click New.
- In the Main account field, type a value.
- In the Name field, type a value.
- In the Main account type field, select the type that best represents the accounts balance and location on financial statements.
- In the list, select the account category the main account belongs to. Account category is used for default financial reports and Power BI dashboard content.
- In the list, click the link in the selected row. Change the default debit or credit balance.
- In the Default currency field, select a value from the list of currencies.
- In the list, find and select the desired record.
- In the list, click the link in the selected row.
- Toggle the expansion of the Legal entity overrides section.
- Click Add to select a legal entity.
- In the list, select the Legal entity.
- Click Add.
- In the list, mark the selected row.
- Select or clear the Suspended checkbox.
- Expand the Financial reporting section.
- In the Exchange rate type field, click the drop-down button to open the lookup.
- In the list, select the Exchange rate type for the account.
- In the list, click the link in the selected row.
- In the Currency translation type field, select the method for calculating exchange rates for the account.
- Close the page.