The Chart of Accounts is the accounts that are used when referring to any financial transactions in Re-Leased. For users of Re-Leased with Trust Accounting, and those using it stand-alone with no Xero connection, this is managed within Re-Leased, by clicking Settings on the green main menu, then Chart of Accounts in the Accounting section.
Chart of Accounts list
Adding a new Account
To add a new Account, click on the Create New Account button.
- Enter the Account Type from the dropdown list of standard types
- Enter the code, which must be a unique code that does not already exist
- Enter the Name, which must be a unique name that does not already exist
- Select the Default Tax value, from the dropdown
- Add a tick to Enable Payments to this Account only if this is a bank account, it should not be ticked for income and expense code types
- Click on Save Account
Note: The Tax types are defined in the Tax Type settings and are a list of the valid tax types for the Account type. These may change depending on the Account Type selected.
Importing an Account
To import a file with Account types:
- Click Import
- Use the Browse to select a file
- Verify that the contents are acceptable, by looking at the message panel on the right. If the check marks are green then the row will be imported.
- Click on Import to import the values
Editing an Account
To edit a Chart of Account type:
- Click on the name
- Make any changes to the name
- Make any changes to the Code, which must be a unique code that does not already exist
- Make any changes to the Name, which must be a unique name that does not already exist
- Make any changes to the default tax value, from the dropdown
- Click Save account
Archiving an Account
To archive an account:
- Click on the Name
- Click Archive
- When asked if you are sure, click Archive this account
Restoring a Chart of Account
To un-archive an account type:
- Select the Archived Accounts tab
- Click on the Restore link next to the name
- When asked if you are sure, click Restore this account
Chart of Accounts for Xero Users
If you are using Xero integration you will not be able to manage your Chart of Accounts in Re-Leased. You will only be able to manage them in Xero.
To complete data entry and account set up prior to connecting to Xero, only set up the minimum required Chart of Accounts. These are treated as placeholders until the connection to Xero is made, and each will need to be reconciled with the corresponding Chart of Account code from Xero.