Set up the chart of accounts

The chart of accounts is the list of every account WbizManager can post to. Every other part of accounting depends on it: invoices, bills, journals, budgets, opening balances and reports all use these accounts. Set it up first.

The accounts sit in a tree. Each level is a group, and only the lowest level holds money:

Level	What it is	Example	Can you change it?
1	Financial statement	Balance Sheet, Income Statement	No. These are fixed (lock icon).
2	Account category	Assets, Liabilities, Equity, Revenue, Expenses	Only the display name.
3 and 4	Account groups you add	1000 Cash and Bank › 1010 Bank Accounts	Yes.
5 and below	Posting accounts: the accounts transactions post to	101001 GTBank Current Account	Yes.

Groups can be added under a Level 2 category or deeper. Posting accounts can only be added below Level 4.

Steps

1. Open Accounts › Chart of Accounts

   In the menu on the left, select Accounts, then Chart of Accounts. Select the arrow beside a row to open its accounts.

   If the list is empty, select Begin Setup. WbizManager creates the fixed Level 1 and Level 2 rows for you to build on. To load a whole chart at once, see Import a chart of accounts below.

   

   1. Import loads a whole chart from an Excel template.
   2. Statement Mapping and Cash Flow Mapping (steps 5 and 6).
   3. The ⋮ menu of a group.
   4. Add sub-account adds an account under this group.
   5. A posting account. The switch turns it on or off.

   Posting accounts show their Balance in blue. Select one to open its general ledger.

2. Add a group or a posting account

   On the group the new account belongs under, select ⋮, then Add sub-account. The Add account panel opens.

   

   1. The group the new account goes under, and whether it is a group or a posting account.
   2. Account Code: a code you choose, for example 101095. It must be unique.
   3. Account Name: required. It can't be changed later.
   4. Account Display Name (optional): the name shown in lists and reports. Leave it empty to use the account name.
   5. Posting account: turn it on for an account transactions post to. Leave it off to add a group.
   6. Contra account: turn it on when the balance reduces its parent instead of adding to it, for example Accumulated Depreciation under fixed assets.
   7. Save account.

   The new account takes its category (for example Assets) and its normal balance from the group it sits in.

3. Edit a posting account

   On the account, select ⋮, then Edit. In Edit Main Account you can change the Account Code, the Account Display Name and Contra account. The Parent and Account Name can't be changed here.

   

   1. Account Code.
   2. Account Display Name.
   3. Contra account.
   4. Line dimension rule: what journal and journal template lines on this account must do with a dimension.

   For Line dimension rule, choose a Rule:

   Rule	Means
   No rule	Lines on this account take no dimension.
   Code Optional	A value of the dimension may be chosen.
   Code Mandatory	A value is required. The default value is offered.
   Code Fixed	Always the default value. No other value is allowed.
   Code Not Allowed	Lines on this account may not carry a dimension.

   Then choose the Dimension and, if you want one, a Default value. Select Save dimension rule. Select Update account to save the other changes.

   On an Equity posting account you also see Use as Transfer of Net Profit account. Turn it on for the retained earnings account that receives each year's profit when you close the year.

4. Move, switch off or delete an account

   From the ⋮ menu of an account:

   • Move puts it under another group. It must stay inside the same Level 2 category (an asset stays under Assets).
   • Deactivate and Activate switch a group off and on. For a posting account, use its switch in the Status column.
   • Delete removes it. You can't delete an account that has accounts under it, or one that has transactions or is used in settings. Switch it off instead.
   • History (posting accounts) opens its transaction history: Date, Journal Number, Journal Type, Debit, Credit and Reference of every posting.
5. Map accounts to the financial statements

   Select Statement Mapping at the top of the chart. This says where each account appears on the Statement of Financial Position and the Statement of Profit or Loss.

   

   1. Choose the statement.
   2. Show posting accounts lists the accounts as well as the groups.
   3. A warning counts the posting accounts that aren't placed yet.
   4. Setting: choose where this group (and everything under it) is reported.

   Statement	Category	You can choose
   Statement of Financial Position	Assets, Liabilities	Current, Non-current
   Statement of Profit or Loss	Revenue	Revenue, Other income
   Statement of Profit or Loss	Expenses	Cost of sales, Operating expense, Finance cost, Other expense, Income tax expense

   A setting applies to the group and every account under it, unless an account below has its own. Not set (inherit) takes the setting from the group above. Comes from shows where each row's setting came from. The setting saves as soon as you choose it.

   Set it on groups where you can. It's quicker and new accounts added later inherit it.

6. Map accounts to the cash flow statement

   Go back to the chart and select Cash Flow Mapping. This decides which line of the Statement of Cash Flows each account feeds.

   

   1. Setting on a group. Here Assets is set to Investing.
   2. Comes from: From Assets means the row inherits the group's setting.
   3. Show posting accounts.

   Category	You can choose
   Assets, Liabilities	Cash and cash equivalents, Operating, Investing, Financing, Non-cash
   Equity	Financing, Non-cash
   Revenue, Expenses	Operating, Investing, Financing

   Where nothing is set, a default is used from the category and the account name. Check these settings: the cash flow statement depends on them. Your bank and cash accounts should be Cash and cash equivalents.

Import a chart of accounts

To load many accounts at once:

1. Select Import.
2. Under 1. Get the template, download the Excel template.
3. Fill in one row per account: Account Category, Parent Code, Code, Name, Type (Group or Posting), Is Contra Account and Is Active (Yes or No).
4. Under 2. Upload completed template, choose the file (.xlsx only) and upload it.

The import is all or nothing: if any row has a problem, nothing is imported and the problems are listed. Fix them and upload again.

If something goes wrong

Message	What to do
Account name is required	Fill in Account Name.
An account with this code already exists.	Choose another Account Code.
Posting accounts can only be created after Level 4.	Add the posting account under a Level 4 group, or add a group first.
Groups must be created under a Level 2 category or lower.	Add the group under a category such as Assets, not under Balance Sheet.
Accounts can only be moved within the same Level 2 account category.	Pick a new parent in the same category.
Account cannot be deleted because it has child accounts.	Move or delete the accounts under it first.
Account cannot be deleted because it has transactions or configured references.	Switch the account off instead.

What happens next

With the chart in place, enter your opening balances, then post journal entries. See the accounting overview for the full order.