The New Account Dialog is where you create new accounts to be added to the Chart of Accounts. To locate this dialog, click the View icon in the toolbar and select Chart of Accounts. From the Chart of Accounts dialog, click the New icon in the toolbar to open the New Account Dialog.

Add a new account from the list of Standard Default Accounts, or create an entirely new account from this dialog.

Use Standard Default Accounts

Select the type of account you would like to add by checking it, then click the Add Account(s) button to add it to the Chart of Accounts

Create New Account

Account Name

Enter a name for the account you are creating.

Type

Select an account type by clicking the radio button next to: Asset, Liability, Equity, Income, or Expenses. Then, specify the type using the drop menu to the right of the account type.

Classification for Cash Flow

The selection you make in this field will be used for the Cash Flow Statement reports. Your choices are Operating, Investing or Financing.

Account Number

Enter an account number. The number of digits in the account must match the digit amount set on the Chart of Accounts list, which is four by default.

Default Linked Account for (If available)

The selection you make in this field will be used as the default account for selected transactions.

Opening Balance

Enter an opening balance for the account, or keep it at zero.

Account is just a Header Account

If the account is a header account it means that nothing can be posted directly to the account but on reports the account prints the subtotals of all accounts below it with the same prefix.

Cash Postable

If an account is cash postable it means it will appear in the list of accounts that payments can be made from or deposits made to. Bank and Credit Card accounts usually have this option ticked.

Tax Included

Check this box if payment from this account will include sales tax. The tax will be based on values entered on the Tax tab of Options, but can also be adjusted on the Payments and Purchases dialog.

Add

When all the details for the new account have been filled in, click the Add button to add the account to the Chart of Accounts list.