Build a chart of accounts from scratch

CynthiaHoltCynthiaHolt Member Posts: 1

Is there way to startover the setup such that I can setup my own chart of accounts from scratch? Setting up for my wife's business and she only needs a very simple chart of accounts. Balance sheet is only bank, a/r and equity. She has minimal expenses and they are all handled in cash so she has no liabilities. P&L is 2 revenue accounts and maybe 5 expense accounts.

The default I got was 42 accounts. I guess I can delete unused accounts but right off the bat I'm not seeing a delete account option. I don't want to start with unused accounts.

Thanks!

Comments

  • JulianPJulianP Administrator Posts: 668 admin

    Hey @CynthiaHolt !

    As you already noticed, all Wave accounts come with pre-populated default accounts on the Accounting > Chart of Accounts page. However, many of these accounts can be deleted by pressing the pen icon beside them. If there are no transactions allocated to the default accounts, you can press the pen icon and prevent them from future use. This will remove them from your Chart of Accounts page completely. If you are looking to create your own accounts, you can do so by pressing the "Add a New Account" button in the top right corner of the page.

    edited February 22, 2021
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