The Chart of Accounts (COA) serves as the foundation of the d6 Finance module, acting as a repository for all financial transactions. It categorises and summarises data into a logical structure to facilitate accurate bookkeeping, financial reporting and auditing.

Finances > General Ledger > Accounts

GL accounts are categorised by Account Type, which determines how the system handles balances, year-end procedures and reporting. Balance Sheet (BS) accounts carry closing balances forward; Income Statement (IS) accounts reset to zero at year-end.

Account type reference

• Income (IS): Revenue accounts. Resets to zero each year.

• Expenses (IS): Operational cost accounts. Resets to zero each year.

• Bank Account (BS): Cheque, savings, investment and petty cash accounts. Uses a sub-ledger for bank reconciliations.

• Profile Control Account (BS): Also known as the Debtor or Learner Control Account. Manages billing and invoices.

• Project Control Account (BS): Tracks specific project-based finances.

• Accounts Payable (BS): Short-term liabilities owed to creditors.

• Fixed Asset (BS): Long-term tangible assets not intended for resale.

• Cost of Goods Sold (IS): Direct costs for goods sold. Resets to zero each year.

• Credit Card (BS): Records credit card transactions.

• Equity (BS): Residual interest after deducting liabilities.

• Long Term Liability (BS): Financial obligations due beyond one financial year.

• Other Asset / Other Current Asset / Other Current Liability (BS): Non-standard asset and liability categories.

• Other Expense / Other Income (IS): Non-operational or irregular items. Resets to zero each year.

• Salary Control Account (BS): Manages and reconciles salary-related transactions.

How do I create a General Ledger account?

1. Click Create an Account.

2. Select the Account Type.

3. Enter a unique Account Code.

4. Enter the Account Name.

5. Select the Account Active From date.

6. For Income, Expense or Asset types: enter a Budget on account from date, select a Budget Category and a Budget Head.

7. Tick Sub Account of if this account falls under another account, then choose the parent account.

8. Click Add.

How do I edit an account?

Select the account, click Edit, modify the allowed fields, then click Save.

How do I close an account?

Ensure the account balance is zero, select it, click Close Account, choose the close date and confirm. An account with a non-zero balance cannot be closed.

How do I re-activate a closed account?

Change the Account Status filter to Closed, select the account, click Re-activate Account and confirm.

Frequently asked questions

Why can't I post a manual journal to a Bank or Control account?

Bank and Profile Control accounts rely on sub-ledger transactions. Manual journals would cause the General Ledger to go out of sync with the sub-ledger, breaking reconciliations.

What happens if I rename an account?

All historical reports will reflect the new name. To preserve the audit trail, rather close the old account and create a new one with the correct name.