Chart of accounts is the most important part of organisation’s accounting information. By default Margn creates accounts to every organisation. But those accounts fit only for those, who haven’t used any chart of accounts before. In this blog post we give little description how to import accounts information to Margn.
In this blog post it is described how to import accounts from Excel, OpenOffice, Google Spreadsheet or other spreadsheet program. Remember, if you have accounts in CSV file, you can open it with any spreadsheet program and prepare data in there.
N.B.: import accounts only then, if there is no point to type account numbers manually.
The hardest part of importing chart of accounts is defining system accounts. Yes, hard part is also setting correct income and balance sheet types. But lets start first with the field descriptions (* is required field):
- * Account number – the field that has to be unique.
- * Account name.
- * Account type – is this account asset or liability or other account?
- * Balance type – with using balance types, Margn creates balance sheet.
- * Income type – with using income types, Margn creates income sheet.
- * Cash Flow type – with using cash flow types, Margn creates cash flow statement.
- Is this contra account? Typical contra accounts are depreciation, bad debts etc.
- Balance – this cannot be changed here.
- Percent – field meant for taxes, depreciation and other accounts.
- Tax free sum – field meant for taxes when tax has some kind of minimal value from where the tax is calculated. For example income taxes often have minimal
- Information – any other information about the account.
Couple of questions arise from here:
1. Where can I insert account balance?
Opening balances can be described in the corresponding module: Opening Balances.
2. How to insert balance and income types?
- Is the amount of accounts correct?
- Are all type fields filled? If not, find correct types.