Chart of Accounts Overview

The Chart of Accounts can be accessed from either akoyaGO CRM or Business Central. However, it is best practice to add and modify G/L Accounts directly from akoyaGO CRM. Any G/L Accounts added or modifications made in akoyaGO CRM will automatically sync to Business Central.

To access the Chart of Accounts from akoyaGO CRM, navigate to the Fund Management area and open the Accounts table.
 

Although akoyaGO recommends adding and updating accounts from akoyaGO CRM, you can also access the Chart of Accounts in Business Central. In Business Central, you can view more detailed information about the accounts, such as the Net Change, Balance, and the transactions that make up those totals.

To access the Chart of Accounts in Business Central, navigate to "Finance" and then select "Chart of Accounts."
 

 

 

  Adding Accounts​

• Accounts can be added or modified in akoyaGO CRM and viewed in Business Central. Any changes will synchronize between the two systems.
• Account numbers cannot be edited once the account record is created. However, account names can be modified at any time.

To add or modify an account in akoyaGO CRM, navigate to “Fund Management” and then select “Accounts.”

Choose +New from the top command bar.
 

Enter the Account # and Account Name>
 

Account #s are the line item account numbers you assign to each transaction to indicate assets, liabilities, revenues, and expenses. 

You will assign your new account an Account #. This number holds significance, as the first digit of the Account # will determine what type of account it is. 

Do not use account numbers below 1000 (or 10000) 

• Accounts starting with a 1 are for assets only​
  • Account 1999 (or 19999) will be your undeposited funds account​
• Accounts starting with a 2 are for liabilities only​
  • Account 2999 (or 29999) will be your Due to/Due from account​
• Accounts starting with a 3 are for net assets​
• Accounts starting with a 4 are for revenues only​
• Accounts starting with a 5 are for expenses only​
• Do not use account numbers over 5999 (or 59999)

When you enter the Account #, you will notice the Account Type, Normal Balance, and Period End Closing Type all auto-populate. This is based on the first digit of the account number. 

• For Revenue and Expense Accounts, assign a related Net Asset Account. This field will become required for Account #s starting with a 4 or a 5.
• Assigning an Account Subcategory is not required, but it is Business Recommended. 

After clicking Save to create your new account, it will sync from akoyaGO to Business Central. However, you still must update the standard akoyaGO financial reports to include your new account.

• Steps for auto-generating akoyaGO financial reports can be found here: Auto Generate akoyaGO Financial Report.