I looked around the internet, and I couldn’t find anything that showed me how to create a GL account in Business One, so I have created this in order to explain how it’s done. Thankfully, I guessed right when creating my first account.
Financials -> Account Code Generator
Natural Account – this is the account number. I don’t know what makes it “natural.” If you mess up, you can edit this later.
Account Name – this is what you’ll be seeing after the number. This probably won’t be “assets” but probably something like a new checking account.
Currency – obvious!
Level – This is what SAP calls a level. You can’t pick level 1 because those are drawers. If you guess wrong you can edit this later.
The next two options have drop down menus, so you should pick the correct option.
Is it indexed? If you’ll be comparing your financial statements with other companies, then you want it indexed.
My company doesn’t have distribution rules, so that was easy!
Division, Region & Department are pretty obvious.
Once you select all the options for your new account, click “OK.”
If you need to make further edits, click on “Edit Chart of Accounts” which should be right above the Generator link.