Manage Account Groupings

Parent grouping is a feature that allows you to create a hierarchical structure for your accounts, grouping them based on account types. This provides an extra level of organization within your Chart of Accounts, helping you categorize and manage your accounts more efficiently.

In other ERPs this is commonly called "Parent Accounts"

Delete a Grouping

If a grouping is no longer necessary, it can be deleted or removed from the group to exclude it from financial reports like the income statement.

To delete a grouping:

1. Move the accounts to another grouping and make sure none is under the grouping you want to delete.

2. Select the three-dot button next to the grouping you want to delete.

3. Select Delete Group.

   

Viewing Parent Groupings in Financial Statements

The Parent Groupings you've set up in your Chart of Accounts will appear in the Balance Sheet to provide an organized, hierarchical structure for reporting. This allows you to easily categorize and view your accounts under appropriate headings like Assets, Liabilities, and Equity.

To View Parent Grouping in the Balance Sheet:

1. Go to Reports in the main menu.

2. Select Balance Sheet.

   
3. Review the Groupings The Balance Sheet will display your accounts grouped according to the parent groupings you've created. These groupings will appear under significant categories such as:

   • Assets Current Assets, Non-Current Assets

   • Liabilities Current Liabilities, Non-Current Liabilities

   • Equity

     
4. Expand/Collapse the Groupings

   • You can expand or collapse the sections under each parent grouping to see individual accounts.

   • For example, under Current Assets, you might see Cash, Accounts Receivable, and Prepaid Expenses as individual accounts, each belonging to their respective parent grouping.