Add a New Account to the Chart of Accounts

This article explains how to create a new account in the Chart of Accounts in Qoyod, how account coding works, and a quick way to add a sub-account.

Path in Qoyod

Accounting › Chart of Accounts › Add Account

Create a new account

1. From the Accounting menu, open Chart of Accounts.
2. Click Add Account.
3. Choose the Parent Account: the direct parent of the new account. For example: 1102 Cash at Bank.
4. Choose the Account Type: such as Bank Account.
5. Enter the account name in both Arabic and English.
6. In the Code field, enter the account code per your company’s policy. If you leave it blank, the next number in the sequence of registered accounts is generated automatically.
7. Add an account description (optional).
8. Click Save to add the account to the Chart of Accounts.

Coding example

When adding a Bank Aljazira account under Cash at Bank, classified as a current asset, the code is 110202, read as follows:

• 1: Assets.
• 1: Current Assets.
• 02: Cash at Bank.
• 02: Bank Aljazira.

The Allow Payment and Collection option

This option appears for accounts that accept collections from customers or payments to suppliers (such as cash and banks).

• When this option is enabled, the system does not allow sub-accounts to be added under this account. For example, if you have more than one current account at Bank Aljazira, they cannot be created as sub-accounts under the same parent account once the Payment and Collection option is enabled.

Shortcut to add a sub-account

1. From the Chart of Accounts, select the parent account you want to add a sub-account under (for example: Accumulated Depreciation).
2. Click the + icon next to the account.
3. The sub-account code is generated automatically in sequence from the parent account’s code.
4. Enter the sub-account details (for example: Accumulated Depreciation of Machinery).
5. Click Continue: the new account appears as a sub-account under the parent.