In This video, we will learn how to use chart of accounts in ERPNext.

- Start by navigating to the Chart of Accounts tree in ERPNext. Here, you'll see the company-wise Accounts along with their respective balances.

- You can create, edit, or reorganize Accounts easily within this tree structure. If you're unfamiliar with using the tree view in ERPNext, check out the interlinked tutorial above.

- The Account Type helps define the nature of the account, such as Bank, Receivable, Payable, or Tax.

- ERPNext supports multi-currency Accounts, so when creating a new account, you can choose the specific currency applicable.

- For group accounts, make sure to select the appropriate Root Type Asset, Liability, Equity, Income, or Expense as this defines its placement in the financial structure.

- You can also change the parent account of an existing account, just like modifying entries in any other tree view.

- If you want to convert a ledger account into a group account, go to the Actions menu and select “Convert to Group.” Note: This option only works if there are no existing transactions linked to the account.

- ERPNext also allows you to rename Accounts or even merge one account with another through the Actions menu.

- When you perform such actions, all related accounting entries will automatically reflect the updated account name.

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