Adding an Account

While Acusheet creates 37 accounts automatically, you may need additional accounts specific to your business — a new bank account, a different income stream, or a specific expense category.

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How to Add an Account

1. Go to Accounting → Chart of Accounts
2. Click New Account (top right)
3. Fill in the account details
4. Click Save

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Account Fields

Field	Required	Description
Account Name	Yes	A clear, descriptive name (e.g. "Emirates NBD — Current Account")
Account Group	Yes	Which group this account belongs to (e.g. Cash and Bank, Operating Expense)
Description	No	A short explanation of what this account is used for
Opening Balance	No	If this account had a balance before you started using Acusheet

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Choosing the Right Account Group

The account group determines how the account appears in reports. Use this guide:

If you're adding...	Use this group
A bank account	Cash and Bank
A customer deposit account	Current Asset
A new loan	Long Term Liability
A new income stream	Income
A business expense category	Operating Expense
A payroll-related account	Payroll Expense
A tax liability account	Tax and Duty
A credit card	Credit Card

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Editing an Account

1. Find the account in the Chart of Accounts
2. Click the ⋮ menu → Edit
3. Update the name or description
4. Save

Note: System accounts (Accounts Receivable, Accounts Payable, Retained Earnings) cannot be edited.

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Deleting an Account

1. Click ⋮ → Delete
2. Confirm

Accounts with existing transactions cannot be deleted. You can rename or repurpose them instead.

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Frequently Asked Questions

Can I add a bank account for a different currency?
Yes. Add it under the "Cash and Bank" group and name it clearly (e.g. "USD — Citibank Account"). When recording transactions, select this account for USD transactions.

How many accounts can I have?
There is no limit. However, keeping your COA lean and well-organised makes your reports easier to understand.

I accidentally created a duplicate account — can I merge them?
Account merging is not currently supported. You'll need to reassign transactions from one account to the other, then delete the duplicate.

Should I create a separate account for each bank card?
For bank accounts, yes — create one account per account/IBAN. For individual cards on the same account, you can use one account.