Add Accounts to the Chart of Accounts

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The Chart of Accounts is the list of every account a nonprofit has identified and made available for recording transactions in its accounting system. There are five types of accounts a nonprofit should use to record transactions:

 
1000 - 1900 Assets
2000 - 2999 Liabilities
3000 - 3999 Equity
4000 - 4999 Income or Revenue
5000 - 9999 Expenses

 

To Add an Account to the Chart of Accounts


To get started, select General Financials > Chart of Accounts - from the Argenta main menu on the left-hand side of the screen.

 
This will bring you into your organizations Chart of Accounts list.  
 
  

To add a new account, click the “Add New” button.

 

This will open the Add A New Account window.

 

 

Add The Account

  • If the account your adding is a loan or an installment account where you will make payments, select Yes for "Is this an installment account?". This will create a special register for this type of an account.
  • If the account is a bank or deposit account and you would like to keep an account register, select Yes for "Will account be used with a register?". This will create a deposit account register for the account.
  • Account Type. This will be one of the nonprofit account types; Asset, Liability, Equity, Income or Expense. This is a required field.
  • Account Detail Type. Use the drop-down menu and select a type. Argenta has account detail types you can use, but you can add and manage your own. While adding an account you can add a new account detail type by clicking the "Add New" button next to the drop down list. This will open a window, allowing you to add a new account detail type. After adding it, the window will close and automatically select your new type. This is a required field.
  • Chart of Accounts Number and Account Name. Next, enter a number and name for your new account. These are required fields. Remember account numbers should follow GAAP (Generally Accepted Accounting Principles);
1000 - 1900 Assets
2000 - 2999 Liabilities
3000 - 3999 Equity
4000 - 4999 Income or Revenue
5000 - 9999 Expenses
 
  • Institution's Account Number. If the account is tied to an institution like a bank or a loan company enter the institution's account number for reference. This field is not required.
  • Account Open Date. Enter the date for reference. This field is not required.
  • Contact Name, Contact Phone, Contact Address. Enter the name, phone number, and mailing address of the bank account’s contact in the corresponding fields. These are not required fields.
  • Account Description. You can also provide a description of the account here. This is not a required field.

After reviewing the information entered, click the “Add This Account” button to finish. The window will close. You can find your new account listed in the Chart of Accounts.