A chart of accounts is a list of categories accounting systems use to organize business transactions by type. Accounts are organized within the following categories: Assets, Liabilities, Equity, Revenue and Expenses.

You may use Flare's default chart of accounts, but we recommend setting up your own or inviting an accountant or bookkeeper to set them up for you. If you are migrating to Flare from other accounting systems (accounting software, spreadsheet, or paper) you'll want to activate or create the same accounts in Flare that exist in your previous system's general ledger. Most accounting software provides a way to print the general ledger or a list of accounts.

Learn how to:

• Activate accounts
• Add accounts
• Add account groups

Activate accounts

To activate an account group and accounts within the group, do the following:

1. In Flare’s top right menu, click the Settings gear icon (1 below) and then click Chart of Accounts (2) in the Settings left menu.
   
   
   
   
2. Click the chart of accounts category tab (3 below).
   
   
   
   
3. Click open an account group (4 above), and click the Active field checkbox of the account(s) you wish to enable (5).
   
   
4. Click the Active checkbox of the account group (6 above) to activate all accounts within the group.

Add accounts or account groups

If an account or account group doesn't exist in Flare’s default chart of accounts, you can create your own.

Add accounts

To add your own accounts, do the following:

1. Click the Settings gear icon in Flare's top menu (1 below) and then click Chart of Accounts (2) in the Settings left menu.
   
   
   
   
2. Click a category tab (3 below) and click the + icon of the account category to which you'd like to add an account (4).
   
   
   
   
3. Enter an account number, and account name (5 below). Make sure the "Active" checkbox is checked, and click Save (7 below).
   
   
   
   
   Once the account has been added, you'll see it within the account group:
   
   

Add an account group

To add an account group, do the following:

1. Click the Settings gear icon (1 below) in Flare’s top menu (1 below) and click Chart of Accounts in the Settings left menu (2).
   
   
   
   
2. Click the Add new group button (3 below).
   
   
   
   
   The Add new account group window opens.
   
   
3. Select a sub-category from Assets, Liabilities, Equity, Revenue and Expenses categories (4 below).
   
   
   
   
4. Enter an account group name (5 below).
   
   
   
   
5. Click Save (6 above).

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• Step 4/5