Chart of accounts

The chart of accounts is a list of all of the categories used by your business. You can use these categories to analyse your income, expenditure, assets, liabilities and capital when running your management reports.

This helps you to see how your business is performing at any moment in time. Each category has a unique category code, although it doesn’t matter which number you use, as it’s the category type you choose when creating a new category that determines where it appears on your reports.

Sage One uses a standard layout designed for small businesses. If required, you can customise the standard chart of accounts layout to suit the needs of your business.

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The standard chart of accounts

You can access the chart of accounts from More > Settings > Chart of Accounts.

From here you can:
  • View details or edit your existing categories, or create new categories.
  • Filter the list by categories included or excluded from the chart of accounts or by category type.
  • Search for categories by the category code or category name.
  • View which categories are control accounts. These are marked with an asterisk.

To create a new category

If you want to create a new bank account, you should do this from Banking.

  • 1. More > Settings > Chart of Accounts.
  • 2. New Category > complete the following information:
Included in Chart Leave this check box selected.
Category Name * Enter the name for this account as you want it to appear.
Display Name * If you want a different name to appear when posting transactions and on your reports, enter it here.
Category Code * Enter the code you want to use for the new category.
If you want to keep similar codes together, the default category code ranges for each category type are as follows:
Assets = 0001 – 1999
Liabilities = 2000 – 2999
Capital = 3000 – 3999
Income = 4000 – 4999
Expenditure – Direct expenses = 5000 – 5999
Expenditure – Overheads = 6000 – 9999
Type *  Choose the category type for the category.

The category type determines where the category appears on your management reports. If you’re not sure which category type to choose, you should check with your accountant.
Group The category group is determined by the category type you choose and you can’t change this.
VAT Rate Choose a default VAT rate. If required, you can change the VAT rate when entering transactions.

* These details are compulsory.

  • 3. Click Save.

To edit an existing category

You can’t change the category name or category type of control accounts, indicated by an asterisk, or exclude them from the chart of accounts.

  • 1. More > Settings > Chart of Accounts.
  • 2. Click the category you want to edit.

To quickly find the category, if you know the code or name, enter this in the search box.

  • 3. Make the necessary changes. For more information, please see step 2 in the previous section.

If you amend the category type, this doesn’t affect any transactions posted to the previous category.

  • 4. Click Save.

To exclude a category from your chart of accounts

You can’t delete a category however, provided it isn’t a control account, you can exclude it from the chart of accounts. If you exclude the category, it’s not available for selection when posting transactions.

  • 1. More > Settings > Chart of Accounts.
  • 2. Click the required category > clear the Included in Chart check box > Save.

If you want to include the category again in the future, simply edit the category select the Included in Chart box.

To save or print the chart of accounts list

  • 1. Reports > Chart of Accounts.

The report shows a list of all categories. To view a list of categories for a particular category type > click Type drop-down > select the relevant category type from the drop-down list.

  • 2. To save or print the report > Export > choose CSV or PDF > the report automatically downloads.
  • 3. Once the report has downloaded, from the menu bar click the relevant report.

Depending on how you chose to export your report, one of the following happens:

  • CSV – The file automatically downloads to your Downloads folder or you’re prompted to save the file > browse to where you want to save the file > Save.
  • PDF – The PDF opens in a new window or tab. You can then choose to print or save the report from your browser menu.

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