How Do I Add a New Account to the Chart of Accounts

When would you need to add a new account?

• The board approves a new recurring expense category the existing list doesn't cover yet, e.g. a dedicated "Landscaping Contract" expense account separate from general Grounds Maintenance.
• The organization opens a new bank account (e.g. a second reserve account for a specific capital project) and needs a matching Assets Cash entry so transfers and GL entries can reference it.
• A new fee type is introduced, e.g. a Rental/Move-In Fee that should be tracked separately from Amenity Fees for reporting purposes.

Steps

1. Go to Financials > Chart of Accounts.
2. Find the category section the new account belongs in (Assets, Assets Cash, Liabilities, Equity, Revenue, or Expenses) and click that section's "+ Add Account" button.

1. Enter Account # — a number in the category's range (the field shows the expected range, e.g. "1000-1999", as placeholder text). This is the account's permanent identifying number used throughout GL entries and reports. A number outside the category's range is rejected with a validation error naming the correct range, and a number already used by another active account is rejected with a conflict error — both are enforced, not just suggested.
2. Enter Name — the account's label, e.g. "Landscaping Contract." This is what you'll see and search for everywhere the account is used.
3. Optionally enter a Description — a short plain-language note on what the account is for, shown in the account list to help anyone choosing it later understand its purpose at a glance.
4. Click Save.

Best Practices

• Pick the account number within the category's stated range (e.g. 5000-5999 for Expenses) — the platform enforces this and will reject a number outside the range, so there's no way to end up with a mismatched number by accident.
• Keep account names specific and consistent with how the organization already categorizes things, e.g. distinguish "Administrative - General" from "Administrative - Professional Fees" rather than lumping all admin costs into one account.
• Set up a dedicated Assets Cash account for every real bank account the organization holds before recording any Manual GL Entries that move money between them — that workflow depends on those Assets Cash accounts already existing in the account picker. A newly-created Assets Cash account is immediately selectable everywhere a cash account is picked elsewhere on the platform, such as a charge schedule's deposit account or an expense's payment account, with no separate setup step.
• Use the Description field for anything a new admin or auditor wouldn't guess from the Name alone, especially for less obvious accounts like "Undeposited Funds" (payments receivable not yet deposited).