This screen is used to maintain account details.
Depending on whether the account is custom account created by the user or one of the accounts from the Liberty Accounts standard chart of accounts, different fields will be available for editing. You will also find that different fields become available depending on the account type selected.

Before adding your own custom accounts you can check whether an appropriate account is already available to add from the Liberty Accounts standard chart of accounts (menu option Accounts||Add From Standard Accounts).

Uncheck the 'Active' checkbox to define an account as inactive. Inactive accounts continue to be displayed in your chart of accounts but they will not appear in drop-down lists when working with accounting transactions.

Enter name of account. This is required.

Select from the drop-down list the type of account being created. This is required.
N.B. if you are not sure which account type to select seek guidance from your accountant.

Select from drop-down list if the account being created is a sub-account of an existing account. N.B. expense accounts will automatically be assigned to administration costs if no value for "Sub-Account Of" is specified.

This field can help to simplify the process of transfering year end trial balance data to a third party statutory accounts package where the third party package has its own account codes.

When a trial balance export file is generated the value held in this field is also included, ready for import into the third party package.

This field may be used to hold a user-defined alpha-numeric code for the account.

This field is useful for entering codes that cross-reference account codes in other systems and is currently used for the bill upload under the Specials menu. Note that the codes are case-sensitive and must match exactly during uploads for an item to be loaded.

For Limited Liability Partnerships you can use this field to indicate which of the partners the account "belongs" to.

Selecting the 'Easy View' option for an account will display the balance of the account on the business home page. Once selected, the account will appear in the 'Account/Balance Overview' area.

This field only appears if you select 'Account Type' of Expense or Income. You may select a default VAT code to use when posting to the account. You can always override the default code when you perform a transaction.

This field is used to define whether VAT is recoverable for an expense account. Normally VAT is recoverable but for some expenses such as Client Entertainment it is not permitted to recover VAT.

When a transaction is entered for an account marked as VAT non-recoverable an entry to the non-recoverable VAT expense account is created automatically when the transaction is submitted.

This field applies to expense accounts. It is used to indicate whether an expense account is tax deductible.

This field is used to classify an expense account for P11D returns.

This field is used to classify an expense account for NIC returns.

Bank and Credit Card accounts can be associated with a branch. When reconciling transactions through the account any bank charge or interest journals generated as a result of the reconciliation will be associated with the branch.

This field only appears if you select 'Account Type' of Current Asset-Bank Account or Current Liability-Credit Card. You will need to enter an amount taken from an appropriate date on your bank statement.

This field only appears if you select 'Account Type' of Current Asset-Bank Account or Current Liability-Credit Card. You will need to enter a date appropriate to the opening balance amount that you have entered.
Enter the dates manually (e.g 19/12/2002) or click on the calendar icon to select a date from the calendar.

This field only appears if you select 'Account Type' of Current Asset-Bank Account or Current Liability-Credit Card. You may enter the bank or credit card account number.

The international bank account number you wish to appear on documents.

The bank sort code you wish to appear on documents.