Table of Contents
Introduction
Whether you're an experienced accountant or new to managing your own bookkeeping, you might want a small guide on how to create accounts within Indigo Business according to your needs.
This article will walk you through the Indigo Business platform, explaining how to create and manage accounts so that they're ready for posting.
If you need a theoretical overview of accounts before you begin, or would like a refresher, click the button below.
Creating an Account
To create a new account:
From the top horizontal menu, go to Nominal > General > Nominal Accounts.
Click Add ➕ to open the Add Nominal Account side panel.
Fill in the required fields.
Finally, click on Save.
Field Descriptions
Code: identifies the account. Use letters, numbers and/or special character combinations. (E.g. Ast001)
Name: the name for the account code. (E.g. Asset - Equipment)
Extra code 1, Extra code 2: these give an additional reference. (E.g. AstEquip)
Add Description: enter a description of the account here, like it's main use.
Special account type or Control account type (depending on choice at Account type): define the account's specific function (e.g. Bank, Cash, VAT Annual account, etc)
Currency: select one for the account. You can post transactions only in this currency.
Reconciliation Type: choose 'Nominal' or 'Bank' to make the account reconcilable, otherwise leave as 'None'.
Reset Reconciliation Type: this button resets the Reconciliation Type field back to 'None'.
⚠️ Please note that clicking this button clears the Reconciliation history and any In Progress reconciliations will be lost.
Default VAT: when posting transactions, the selected VAT rate will be automatically applied.
TIFD: choose the corresponding index box in the TIFD online form, so the data will be compatible with the electronic filing system.
On Hold: tick this checkbox to temporarily stop transactions from being posted into this account. Only regular accounts can be put on hold.
📋 Note: The Category, Account type and Special Account type fields are all connected. Depending on the value you select in one, the available choices in the others will change accordingly. More on this 👉 here.
Creating a Bank Account
To create a bank account, whether asset, liability or equity, do the following:
Enter values for the Code, Name, Category and Account Type fields.
In the Special Account Type dropdown, choose 'Bank'.
From the Bank dropdown, choose a bank.
Please note that the available values are those from the bank catalogue.
Fill in the Account and IBAN fields.
In the Bank SEPA Type dropdown, choose the corresponding SEPA code.
In the Bank Instructions text box, specify the client's bank transfer details (if any) to be printed on invoices.
Enter the SEPA Customer ID and SEPA Customer Password. (These link SEPA transactions to a specific customer and ensure the transactions' legitimacy.)
Fill in the SEPA Effective Date Offset with the number of working days from today the SEPA will become effective.
The Reconciliation Type dropdown will automatically be set to Bank. (If you don't need to reconcile the bank account, set to 'None'.)
Fill in the values for Currency, Default VAT, and TIFD.
Finally, click Save.
Editing an Account
You can edit an account in two ways:
Either select an account from the grid and select the Edit button at the top left of the grid.
Or;Select a value under the Code column, and select Edit in the Nominal account drawer.
Whichever method you use, after clicking Edit, modify what's needed and select Save to finalise the process.
🧠 Good-To-Know
To consult the list of transactions associated with the chosen account, click on the value under the Balance column, or select the Transactions button at the top left of the grid.
Related Articles