The Accounts page allows you to set up and manage your chart of accounts for use with the Access Financials integration. This feature enables seamless integration between your inventory system and Access Financials, ensuring your sales, Cost of Goods Sold (COGS), and expense accounts are properly synchronized.
Accounts requirements
Whether importing from Access Financials or creating accounts manually, ensure your accounts meet these essential requirements:
Account Types are categorized as one of the following:
Sales: Record revenue from product sales.
COGS: Track the direct Costs Of Goods Sold (COGS).
Expense: Categorize business operating expenses.
Account Codes are unique and follow a consistent numbering scheme, e.g., 4000-4999 for sales, with a maximum 50-character length.
Account Names are descriptive and avoid abbreviations, with a maximum 50-character length.
Import Accounts from Access Financials
The import function allows you to sync your existing chart of accounts directly from Access Financials, saving time and ensuring consistency between systems.
From the main menu, go to Settings > System > Accounts.
Select Import Accounts
The system will pull your existing account structure, including account codes, names, and types, into the Accounts page.
Manually create Accounts
You can also add accounts directly within Unleashed when needed:
From the main menu, go to Settings > System > Accounts.
Select Add Account.
Enter Account Details:
Account Code
Account Name
Account Type: Select from the dropdown menu Sales, COGS, or Expense.
Click Add.
Using Accounts
Once your accounts are set up, they become available as default selections when processing transactions. This integration ensures:
Automated posting: Transactions automatically use the correct account classifications.
Consistent reporting: Financial data flows seamlessly to Access Financials.
Reduced errors: Pre-defined account selections minimize manual entry mistakes.