Chart of Account

Demote Account To promote/demote the account number by one level. Levels allows you to define how your chart of accounts will print on the balance sheet and income statement as well as other reports. The uppermost level in a chart is the account type: Assets, Liabilities, Equities, Revenues and Expenses. The next level is level 1 which can be additional, more specific categories.

Note: The level of an account number identifies where it fits in the grand scheme of your chart of accounts. It shows what account to which this account is a sub-category (the immediately prior next higher level). It also shows what accounts are sub-categories of this account (any accounts following, which are lower levels until a similar or greater level is encountered).

Chart of AccountsPrints a list of your accounts in the order, Assets, Liability, Equity, Revenue and Expenses.OthersSee Ledger Reports