How to Create and Edit a Chart of Accounts in ProudNumbers

Introduction

ProudNumbers allows users to create a fully customized Chart of Accounts (COA). This feature is particularly useful for businesses that require a specific account structure for financial reporting. Below is a step-by-step guide on how to generate a new Chart of Accounts and modify existing ones in ProudNumbers.

Understanding Imported vs. Created Charts

• Imported from Sage 50 (Black text): These charts can be used in reporting or serve as the default Chart of Accounts. They cannot be modified.
• Created in ProudNumbers (Blue text): These charts are based on Sage 50 import charts and can be customized further. However, they cannot be used as a baseline for creating new Charts of Accounts.

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1. Creating a New Chart of Accounts

1. Open ProudNumbers: Launch the ProudNumbers application and select the client to which the Chart of Accounts should be applied.
2. Navigate to Chart of Accounts: In the main menu, select “Charts.”
3. Click ‘New’ to create a new chart.
4. Select a Baseline Chart: Choose a chart from the dropdown menu (only imported Sage 50 charts are available).
5. Name the New Chart appropriately.
6. Tick ‘Only P&L Categories’ if the chart should apply only to Profit & Loss categories.
7. Click OK to confirm the new Chart of Accounts.

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2. Setting Reporting Granularity (Editing an Existing Chart)

This option allows various modifications of figure summarization while keeping the overall chart structure unchanged. By default, ProudNumbers reports on the Nominal Category level. Users can adjust this setting to control how account figures appear in financial reports.

Available Reporting Options (via Right-Click):

• Reporting Accounts Individually: Displays figures for each nominal code within a category.
• Reporting Group: Allows toggling between detailed nominal codes for Profit & Loss, Balance Sheet, or both.

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3. Modifying an Existing Chart of Accounts (For ProudNumbers-Created Charts Only)

If the Chart of Accounts was created within ProudNumbers, users have additional editing capabilities. There are three different modifications that can be made, and they can be used in combination.

Adding a Category

• Click ‘New Category’ to insert a new account group. 📌

Delete Empty Category

• Click ‘Delete Category’ to permanently remove a group from the chart. 📌
• ⚠️ Warning: Deleted categories cannot be recovered.

Edit Category

• Click ‘Edit Category’ to rename an existing group of Nominal Codes. 📌

Removing & Moving Nominal Codes

• Click ‘Remove Nominal Code’ to delete an account from the chart.
• Drag & Drop nominal codes to reposition them within categories. 📌
• ⚠️ Removed nominal codes are stored separately and cannot be deleted.

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4. Finalizing and Saving Changes to an Edited Chart

• Review all changes to ensure the Chart of Accounts is correctly structured.
• Click ‘Save’ to confirm modifications.

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Why Customize a Chart of Accounts in ProudNumbers?

• Tailor financial reports to match specific business needs.
• Increase flexibility in financial analysis.
• Standardize account structures across multiple companies or departments.
• Control how accounts appear in management reports.

By following these steps, you can efficiently create and customize a Chart of Accounts in ProudNumbers, ensuring precise and meaningful financial reporting.