Set up the chart of accounts

Decide which accounts are on the balance sheet and how each one is reconciled.

ForSystem configuratorAdmin and super administrator

The chart of accounts decides which accounts get a reconciliation every close. Each account’s category (Asset, Liability, Equity, Income or Expense) puts it on the balance sheet or in profit and loss.

Import it

  1. Go to Settings → Chart of accounts and press Import chart.
  2. Choose your file: from Tally, a list of ledgers with their group; from Zoho Books, Accountant › Chart of Accounts › Export.
  3. Press Read rows, check the categories CloseDesk suggests, and import.

You can also add accounts one by one with Add account, or skip this step: importing a trial balance adds any account it doesn’t know yet.

Set the rules for each account

  • Balance sheet accounts can be set to reconcile or not. Only those set to reconcile get a sub-task.
  • Allowed unexplained without a note: how much may stay unexplained before a note is needed.
  • Backup needed on each line from: lines of this amount or more need their own backup file.
  • Functional area and Working day: who reconciles the account and when it is due.