---
title: "Chart Of Accounts"
canonical: "https://kb.myframeworks.com.au/space/FRAM/28390222/Chart%20Of%20Accounts"
format: markdown
---
# Overview
A **Chart Of Accounts** is a comprehensive list of all the financial accounts used in an organisation's General Ledger (GL) to record its financial transactions. Each account is assigned a unique account number and is categorised into different groups, such as assets, liabilities, equity, revenue and expenses.
The purpose of the Chart of Accounts is to organise and classify financial information in a standardised manner, making it easier to track and report financial data. By categorising expenditures, revenue, assets, and liabilities, the Chart of Accounts helps you to effectively manage your finances, accurately report financial results, and make informed decisions based on financial data.
The **Chart Of Accounts **option** **allows you to create and maintain a Chart Of Accounts for a selected company.
# Accessing the Chart of Accounts
To access the Chart of Accounts, perform the following:
1. Click the **Frameworks Menu** and enter **Chart Of Accounts** into the **Search Box.**
2. Click the **Frameworks Menu** then navigate to **General Ledger > Maintenance > Chart of Accounts **from the** **navigation tree.
# Navigating the Chart of Accounts Screen
Once you have entered the **Chart of Accounts the **screen you will be able to view, edit and maintain your Chart Of Accounts.
The Chart of Accounts screen is made up of 3 main sections, these are:
1. The Search and Result Options
2. The Account Details
3. The Command Buttons
## 1. The Search and Result Options
In this section you can refine your search using the:
- The **Search **field to enter an Account Number or Description you are looking for.
- The **Branch **drop-down menu to select a specific branch or all branches
- Tick the **Active Only** checkbox to view only the currently active accounts.
Click **Find **once your search criteria has been entered.
In the **Results **section below you will view the results of the search. Click on the **Account No** hyperlink to view the account details to the right of the screen.
## 2. The Account Details
Here you can view, edit and update the **Account Number**, **Description**, **Rev. or B/Sheet**, **Status**, **BAS Code**, **Division**, **Branch** and **Cost Centre** fields. The following link provides you with a screenshot and a description of the information you may enter when creating a new General Ledger account.
Click here for more information about the Chart of Account fields
The following fields are general account maintenance fields:
**Account Number**
Enter a unique numerical identifier for the new GL Account. This is used to classify and organise accounts. Account numbers typically follow a hierarchical structure, with each digit or group of digits representing a different level or attribute of the account. Account numbers can be used to quickly locate and retrieve specific accounts, as well as to sort and group accounts in financial reports.
> ℹ️ Account Numbers are a maximum of 9-digits.For example:
---
**Description**
Enter a descriptive name for the account to help users identify its purpose and function.
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**Rev. or B/Sheet**
Select [Revenue](https://sterlandsupport.atlassian.net/wiki/spaces/FRAM/pages/28390130) or [Balance Sheet](https://sterlandsupport.atlassian.net/wiki/spaces/FRAM/pages/28390130) from the drop-down menu. This field is used to determine the type of account. Refer to [General Ledger Terminology](https://sterlandsupport.atlassian.net/wiki/spaces/FRAM/pages/28390130) for further information.
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**Status**
Select **Active** or **Suspended **from the drop-down menu.
If an account is suspended, Frameworks does not allow you to post any manual transactions to it. However, automatic system-generated transactions are allowed to be posted to "suspended" accounts. This allows you to define the Control Accounts like Debtors as "Suspended" to stop people posting manual GL Journals to the account, however still allows the system to post to the account as a result of normal transactions in the various sub-systems like Sales.
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**BAS Code**
Select the GST Tax Code from the drop-down menu. This field is used for the BAS Sales/Purchasing Reports. Accounts can be allocated a code for:
- Tax-free
- Input-taxed
- Non-deductible
- Capital acquisitions
The BAS Reports will then show the acquisitions in their categories when run.
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**Control Account Type**
This allows you to flag certain accounts for special treatment. Control accounts provide a higher-level view of financial transactions, and are typically used to group and report on similar types of transactions, such as sales or expenses.
> **For example:**
>
> The inventory balancing audit starts by looking at all GL accounts marked as **stock** **accounts** whereas the purchase clearing reconciliation looks at all GL accounts marked as **purchase clearing accounts.**
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**External Reference **
If required, enter an external reference account number from another external system you need to link with Frameworks.
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**Can Be Purchased**
When enabled, the GL Account will be defined as a purchasing GL account which will be visible from the [Purchasing Expenses Maintenance](https://sterlandsupport.atlassian.net/wiki/spaces/FRAM/pages/28382392) screen.
> ℹ️ Only Accounts with no **Control Account Type** can be marked as purchasable.
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**Division **
Select the relevant division from the drop-down menu. Divisions are defined in [GL Table Maintenance](#).
Divisions are used to define your organisational structure and control the financial reporting output from the system.
> **For example:**
>
> - NSW/QLD or Trade/Wholesale.
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**Branch **
Select the branch number to which this account belongs from the drop-down menu or leave it as is if you do not wish to allocate it to a specific branch.
Branches are used to define your organisational structure and control the financial reporting output from the system.
> **For example: **
>
> - Sterland Timber or Sterland Hardware.
---
**Cost Centre **
Select the relevant **Cost Centre** to which this account belongs from the drop-down menu. For example, yard. Cost Centres are defined in [GL Table Maintenance](#).
Cost Centres are used to define your organisational structure and control the financial reporting output from the system.
> **For example: **
>
> - Shop or Yard.
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**Cash Account **
Enable the checkbox if the account is an account where money is held.
> **For example:**
>
> - A bank account.
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**Classification **
Select the relevant classification from the drop-down menu.
Classifications have been introduced to allow the classification of accounts within the Profit & Loss reporting as used within the Phocas Finance Cube. Refer to [https://www.phocassoftware.com/phocas-academy/phocas-for-finance](https://www.phocassoftware.com/phocas-academy/phocas-for-finance) for further information. Please contact Sterland Computing if you would like to implement the Finance Cube.
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**Chart Sequence**
Click the **search **icon to open the **Chart Sequence Finder** and select the appropriate Seq link to auto-populate the **Category, Type, Sub Type **and** Instance** fields.
> ✅ Refer to [Ledger Reporting Chart Maintenance](https://sterlandsupport.atlassian.net/wiki/spaces/FRAM/pages/28404028) to define chart sequences.
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**Category**
This is used as the top level of grouping when running your financial reporting.
- All the reporting formulas are calculated from this level.
- The Category amount totals are displayed under the Summary section within a Financial Reporting report.
> **For example**, Sales, COGS and Operating Expenses.
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**Account Type**
This is used to break down the Categories into smaller groupings.
- The Account Type amount totals are displayed under the Summary section, under its corresponding category, within a Financial Reporting report.
> **For example**, Sales might be broken down into Stock, Manufacturing, Charges and Transport
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**Sub Type**
This is used to further break down the account type details and group the individual GL Accounts which make up the Account Type.
- The Sub Type amount totals are displayed under the Details section, once an account type is selected, within a Financial Reporting report.
- From under the Sub Types, you can drill into the GL Accounts and then the individual transactions.
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**Instance**
With customisable financial reporting, the **Instance** is no longer required and is used by the fixed financial reports. We recommend using a generic Instance as it is still required to be defined but is not used by the **Financial Reporting Dashboard.**
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## 3. The Command Buttons
The command buttons allow you to create **New** accounts, **Edit **existing accounts, **Copy **existing accounts as new accounts, **Save** and **Cancel **any changes made and **Delete **accounts.
# Additional Information
> ✅ Refer to [https://sterlandsupport.atlassian.net/wiki/spaces/CO/pages/30510074](https://sterlandsupport.atlassian.net/wiki/spaces/CO/pages/30510074) for more information.
> ✅
> ✅ Refer to [https://sterlandsupport.atlassian.net/wiki/spaces/CO/pages/30509580](https://sterlandsupport.atlassian.net/wiki/spaces/CO/pages/30509580) for more information.