Chart of Accounts

View - Accounting - Chart of Accounts

A chart of accounts is a register of all the accounts used by a business for its bookkeeping. Mamut Business Software includes a default chart of accounts, containing the most commonly used bookkeeping accounts. It is, of course, possible to add your own, user-defined accounts to this list.

In the Chart of Accounts you will find all available N/Cs to make entries against. The chart of accounts shows all setting options for each N/C as well as the N/C's position in the layout of accounts.

Settings Options for the Chart of Accounts

You can make changes t the Layout of accounts if you wish. The layout of accounts is based on the groups of N/Cs in the chart of accounts and new N/Cs will be placed into the layout of accounts automatically according to the account number they are allocated. By clicking on the Change layout of accounts button you can create new groups and elements or change the name of existing ones, but note that the changes you make here will have an influence on your accounting reports. Thus, you should not make any changes here unless you are completely sure. Find out more about the options offered by the layout of accounts in Chart of Accounts Properties.

In addition to making changes to the layout of accounts, there are a number of settings you can make in order to make your journal entry more efficient. Each account allows you to specify whether the posting should be entered into the Credit or Debit field (the field you choose is activated automatically when you select the account). By linking an N/C to a VAT account, the correct VAT will be calculated when posting the item to your accounts. Under the Advanced tab you can also make settings for automated double-entries, the automatic generation of ledger items as well as the management of different foreign currencies. You can find out more about the settings options in Chart of Accounts Properties.

If you wish to use 7-digit-accounts instead of the standard 4-digit-accounts you can change this in the Accounting Settings. Read more in Accounting Settings.

Control Accounts

Several of the Mamut modules post journals automatically in the Nominal ledger of the accounts. The control accounts determine the accounts used for such entries. From the Account group drop-down list you can select an account group and view which N/Cs are used by automatic entry from a corresponding module. You can also click in the N/C column and override the account if necessary. Read more in Control Accounts.

Multiple Company Databases

Furthermore, you can manage the Chart of accounts in multiple company databases/clients with the help of the Company handling function. You will find this function under File - Database Utilities.

When you create a new N/C you can specify which company database/clients the N/C should be available in. You can also make changes to existing N/Cs. Find out more in Company handling.