Interesting. I never realised that the account code was used for actual accounting purposes. I was always under the impression that it was used to order the accounts on the summary page which is what I use it for, mainly for the sub headings. Oh well its not something that I need to worry about as my accountant has never asked me to address that and I don’t think its required in UK law. Thanks for clarifying that.
Account codes obviously also control the order of appearance in Manager. So both purposes are useful, depending on what you need. In some jurisdictions, certain businesses (or perhaps all) must use legally mandated account structures.
Currently, the Code field is used mostly for making accounts to appear in correct order. I’m considering to replace this with some drag & drop mechanism for easier re-ordering and then introduce proper field for account codes which will allow alphanumerical characters (not just number).
At this point, if you need to show account code with non-numerical characters, why not put this code into the name field?
That’s what I’m doing right now. But since I use those codes also for extra reporting and business intelligence, having those inside the description fields, it’s not very functional. And you have to keep in mind that I don’t want those codes to show in every report.
It would be easy and fine to have a “note” text column in the chart of account fields that one can choose to display or not in Manager’s reports.
The ideal thing as I said once would be the possibility to put custom fields also in the chart of accounts.
@aehf, where are you trying to copy and paste the chart of accounts from? If you are trying to create a Manager business similar to an existing one, you could import a backup and use the Batch Delete function to get rid of the transactions in the origin business.
I have been locked into MYOB for many years - now using Manager (Thank Goodness) so I use the same numbers for my Account Codes as I was using before (eg. 10000 Assets 20000 Liabilities 30000 for Equity 40000 for Income 50000 for Purchases (cost of Sales) 60000 Expenses 80000 Other Income and 90000 for Other Expenses. I have set up a Template using this chart of accounts and just import a New Business for a new Client. This saves me a lot of time setting up in the event of obtaining a new client.
Dear @lubos, another thing that you should took under consideration is that, now that you added the possibility to use alphanumeric codes, you should extend the possibility to edit also Assets and Liabilities accounts in order to add the code (as in the Equity field).