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How Do I Add a New Account

Adding an account is done through the "Add account" button in the page toolbar, which opens a short form. Go to Finances → Chart of Accounts.

Steps

  1. Go to Finances → Chart of Accounts.
  2. Click "Add account" in the top-right toolbar.
  3. Choose an Account Type from the dropdown - this list includes both top-level categories (e.g. Assets) and specific sub-groups (e.g. Cash and Bank, Inventory, Depreciation and Amortization, Money in Transit, Other Long-Term Asset).
  4. Enter an Account Name.
  5. Optionally enter an Account ID. Leave it blank and Sumung will auto-assign one (e.g. 0001, 2301) when you save.
  6. Optionally add an Account Description.
  7. Click "Save" to add the account to the Chart of Accounts.

Good to Know

Choosing the right Account Type matters for how the account is grouped and reported - accounts created here also follow the same Account Type list used by "Add group."

Related Articles

  • What Account Types Are Available in the Chart of Accounts?
  • How Do I Add a New Group?
  • What Is an Account ID?

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