The following steps will explain in detail how to use the New Account Wizard. This wizard will walk you through the process of adding new accounts. Make sure you plan the building of your Accounts carefully. Once they are created, you will not be able to change the Account ID. The only remedy is to create a new account you want to use and then delete the one you no longer wanted.
1.To access the GL Setup Wizard from the Main Menu click Accounting and then select New Account Wizard.
2.The first step is Create Segment Accounts. By default, Primary Account segment is highlighted. Clicking the New button at the bottom of the form will bring the cursor to the Code field where you can enter the account code or id. Complete other fields like Description, Account Type and Account Group. Note that when adding new segment, the Type and Account Group will default the data from the previous line. Press tab or enter key to bring you to the next line and continue on with adding primary accounts. Beside the New button is the Add Primary Accounts button that when clicked will open the Import Primary Accounts form that will allow you to import our default set of primary accounts or even a selection of chart of accounts templates.
You can also add segment accounts for your other segments. Example, the segment name is Department, you can add Sales, Administrative, or any department you may have. When you complete this step press the Next button to automatically take you to the next step.
3.In the Build Chart of Accounts, this is where you combine your Primary Accounts with your segmented codes which will create your Chart of Accounts. You can select the primary accounts and segment codes one by one by checking the box before it or use the Select All to select all primary accounts and segment codes.
At the top of the form, you will see the Currency and Account Structure fields. The Currency field will allow you to select the currency you would want your account to be built for and the Account Structure field will display a read-only account structure mask to help you visualize what the accounts will look and be like when they are created.
When you complete this step, click the Preview button at the bottom of the form to see a preview of the accounts, which allows you to review and print. When you complete this step press the Next button to automatically take you to the next step. To go back one step click the Back button.
4. In the Preview New Accounts, you will see a preview of how your new accounts be like when you build it. Click Finish button to actually build your new accounts. A message will be shown letting you know that accounts were successfully created. Click OK and the New Account Wizard form will be closed.