The Master Chart
It is not possible to add an new account to a client's chart of accounts unless it already exists in the master chart. This enforces a high degree of standardisation across all the clients in a class.
You can set up your own client classes and master charts or you can use one provided. In practice it is usually desirable to adapt the chart of accounts to the preferences of the practice.
Many of the accounts in the master chart have generic descriptions such as Bank 1’, ‘Bank 2’ etc. When these accounts are added to a client the description can be customised for the client (i.e. to the correct name of the client’s bank account). This enables the particulars of client bank accounts to be listed on the face of the accounts without breaking the standardization enforced by the master chart.
The standardisation created by the master chart can be exploited if it is necessary to reorganise the chart in some way:
Editing the Account Description
If an account description is edited in the master chart then it is also changed automatically for every client in the class that uses the account, apart from those clients where the description has been customised.
Editing the Account Code
If an account code is edited in the master chart it is changed automatically for every client in the class that uses it. Also all references to the account code are automatically changed if, for instance, it has been used on entries or as a posting account on an investment account.
Deleting an Account from the Master Chart
You cannot delete an account from the master chart if it exists on a client. Trying to do so displays a warning message which contains the name of the first client using that account. (To get a complete list of all clients with the account use Transaction Reporter).
Deleting an Account from the Master Chart and All Clients
However if you want to delete an account from all clients, and if it has no balances or entries, then this can be done using the option Global Delete. Global Delete only deletes an account from a client if it is safe to do so.
Simplifying the Master Chart
Sometimes it is desirable to simplify the master chart of accounts. For instance in the past multiple accounts might have been used for Dividends when only one account is now needed. To remove the unwanted dividend accounts even if they are still in use on some clients:
- Select Activities 4 Common/Shared data 4 Client Classes.
- Click Master Chart and then Other.
- Select Global Delete.
- Click on the Remap A/c References If In Use checkbox.
- Select the unwanted dividend accounts for deletion (e.g. ‘Dividends 2’, Dividends 3’).
- For each account being deleted specify ‘Dividends 1’ as the replacement account.
- Click Select clients to select all clients in the class and then click on the Include Master Chart checkbox.
- Click OK and the unwanted accounts are deleted. If they had entries or other references they are moved to Dividends 1. If they had balances they are also added to Dividends 1.
Changing the Case of Account Titles
Select Change Case, to allow the case to be changed for all accounts in the master chart and in all clients. This could be useful if all the account titles are in upper case and it is desired to move to initial caps which is more common nowadays.
Changing the Master Chart Code Length
Select Change Code Length, to change the account code length across all clients by adding a zero at the start or end of the code.