How to Use Chart of Accounts in ERPNext
In This video, we will learn how to use chart of accounts in ERPNext.
- Go to chart of accounts tree, here you can see the company wise charts of accounts along with balance in each account.
- You can create or edit any account like any other tree view. If you would like to learn, how to use tree view, you can find the video-link above.
- Account type is used to display which type of account is this.
- ERPNext supports multi currency accounting, you can choose account currency while creating the account.
- For group account, you must select Root Type from Asset, Liability, Equity, Income, or Expense.
- You can change parent account to like any other tree-view.
- But converting to group directly, is not feasible like any other Tree view, for that you can click on actions, and click convert to group. This will work only if there are no accounting entries against this account.
- ERPNext also allows you to rename any account or merge account with any other account through actions.
- This action, will change all accounting entries to reflect the new name of account.
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