How do I add a new account to my chart of accounts?

This article is to help you understand how your general ledger works and how to add a new account to your chart in respect to the account groups & families. Your Chart of Accounts consists of 2 levels of categorization:

Each account belongs to an account group.
Each account group belongs to an account family.

Example: the rooms family consists of 2 groups rooms revenue and rooms expenses, each account group consists of multiple accounts just like the example below:

Account Number	Account Description	Account Type	Group Code	Group Description	Family Code	Family Description
1010001	Room Charges	Revenue	101	Rooms Revenue	1	Rooms
1010002	Extra Bed	Revenue	101	Rooms Revenue	1	Rooms
1010003	Late Check-out	Revenue	101	Rooms Revenue	1	Rooms
1020001	Rooms Stationary	Expenses	102	Rooms Expenses	1	Rooms
1020002	Housekeeping Supplies	Expenses	102	Rooms Expenses	1	Rooms
1020003	Cleaning Supplies	Expenses	102	Rooms Expenses	1	Rooms

There are 5 globally known Account Types in which your chart of accounts has:

Assets
Equity
Liabilities
Revenue
Expenses

Each Account type has its own nature wherein it determines how the transaction would be financially recorded. How do I add a new account group to my chart? Back Office → Settings → Accounts → Account Groups → Add New

Add the account group code you desire, the group code will determine the order of this group on your finanacial reports.
Add a description for the new group.
Linking the new group to an account family is important yet not mandatory.
Click Save so you won’t lose your changes.

How do I add a new account to my chart? Back Office → Settings → Accounts → Account → Add New From the below screen you can search for any account you desire using the account description or the code in order to easily edit it, multiple search criteria like the below:

Account number
Description
Search using the account group
Account type

Insert the Account number you want depending on the serialization of the account group/family.
Insert a description for the new account that explains it.
Link the new account to the group you desire.
Select the account type “Assets / Liabilities / Revenue / Expenses / Equity”
Click Save so as not to lose your settings.

What is a parent account and when do we use the control account flag? A parent account is a top-level account used for accounting purposes. It’s called a “parent account” because it contains one or more other, lower-level accounts. The parent account is the primary account under which lower-level accounts, also known as sub accounts, are placed. Just like the guest ledger being the parent account for all reservations in front office, a parent account is the summation of the respective child account values.

To mark an account as a parent, you need to use the Control Account Flag.
To create an account under a parent, you need to select the parent account from the designated dropdown menu.

Important Note: in order for the parent account to appear in its designated dropdown menu it needs to be marked as a Contol Account.

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