A default Chart of Accounts is automatically created when the database is created. When your accounts are imported or entered, you may have some duplicate accounts with different numbers. If you will be importing your chart of accounts you will need to do that before continuing or you can continue with the default accounts and change them later.
Since the accounts created by ESC are used in different areas of the system and can’t easily be deleted, it is easier to delete your account number and then change the default account to the number you want to use. For example, the default AR account number is 110000 and your AR account is 1100. Delete account 1100 by highlighting it in the Chart of Accounts list and clicking Delete. Now edit 110000 by double-clicking on it in the account list. Click on Change Account and enter 1100, then click Save. This will change 110000 to 1100 anywhere it was used in the system, saving you a lot of time. To change the name of the account, just edit the information in the Description field.
Add new accounts by selecting Add New from the Company → Enter Chart of Accounts screen and entering a new number, choosing a Category, and typing a Description (or account name).
You will need an “Invalid Account” for backloading. Set this account up as an 'Other Current Liability' account.
You will also need a Cash account called “Undeposited Funds”. When setting up payment items, enter this account number for all types except credits. When payments are entered in Accounts Receivable, they will all go into this account. Deposits are then made from Receivables → Make Deposits. This allows you to deposit payments into as many accounts as desired without setting up a Payment Item for each account and allows deposits to go to the check register in a lump sum instead of each payment being a line item.
Explanation of Parent Accounts
In ESC parent accounts are 'Total' accounts. If you enter an account as a parent account that account becomes a Total account and cannot be posted to.
Attaching Vendors to Liability Accounts
ESC gives you the option of attaching vendors to liability accounts. When a liability category is chosen, a Vendor for Accrual field appears. If you enter a vendor here, every time that account number is used a bill will be created for that vendor.
If Work-In-Progress was enabled under System Setup → Accounting, when you choose a 'Balance Sheet' category this field will appear. If the account you are entering is a WIP account, check this box and a 'Closing Account' field appears. Choose the account you want the money moved to when the job is closed.