How to Create a Chart of Accounts

Introduction #

The Chart of Accounts (COA) is the backbone of your financial accounting system. It organizes all financial transactions into categories and ensures accurate reporting. This article provides a step-by-step guide on how to create and manage the Chart of Accounts in the Cosmic ERP Accounting module.

Prerequisites #

There are no specific prerequisites required to create a Chart of Accounts.

Steps to Create a Chart of Accounts #

1. Login to Cosmic ERP
   • Enter your credentials and click on the login button.
2. Navigate to Accounting System
   • Once logged in, locate and click on the Accounting System from the main menu.
3. Access Double Entry
   • In the Accounting System, find and click on the ‘Double Entry’ option.
4. Select Chart of Accounts
   • Click on the ‘Chart of Accounts’ option within the Double Entry section.
5. Create a New Account
   • Click on the create button to initiate the creation of a new account.
6. Enter Account Details
   • Name: Enter the name of the account.
   • Code: Input a unique code for the account.
   • Account Type: Select the appropriate account type from the dropdown menu.
7. Create Account
   • Once all information is entered, click on the ‘create’ button to finalize and save the account details.

Conclusion #

Creating a Chart of Accounts in the Cosmic ERP Accounting module is a straightforward process that ensures all financial transactions are categorized accurately. Following these steps will help you maintain a clear and organized financial accounting system.