How to add a new account in the chart of accounts

The Rewaa platform allows you to add sub-accounts within the main accounts in the chart of accounts to accurately track your financial data. In this article, you will learn the details.

#Basic Definitions

• Fixed Assets (Non-current): Long-term assets that are not expected to be converted into cash within one year, such as properties, machinery, and equipment.

• Equity: The residual interest in the company's assets after deducting liabilities, representing the owner's share in the business. It includes: issued capital, opening common shares, and retained earnings.

• Revenues: The income a company earns from its core operating activities, such as sales of goods or services.

#First: Adding a New Account in the Accounting Tree

#Steps to Add a Sub-account (Second Level)

1. Go to Accounting > Chart of Accounts > New Account.

2. Select the main account (parent account, such as: assets, equity, revenues…).

3. Enter the following data:

   • Account code (appears automatically and can be modified).

   • Name of the new account.

   • Description (optional).

4. Click "Save."

5. Refresh the page for the new account to appear in the chart of accounts.

#Steps to Add a Sub-sub-account (Third Level)

1. Go to Accounting > Chart of Accounts.

2. Click on the second-level account > click on the three dots > select New Sub-account.

3. The following data appears automatically:

   • Main account (from the second level).

   • Account code (appears automatically and can be modified).

4. Enter the required data:

   • Account name.

   • Description (optional).

5. Click "Save."

6. The new account appears under the account you selected.

ℹ️ Note: When adding a sub-account to an account previously linked to a payment method, the link with the payment method will be removed, and they can be linked again.

#Practical Examples

Main Account (Parent Account)

Sub-account

(Second Level)

Sub-sub-account (Third Level)

Detailed Account (Fourth Level)

Assets

Non-current Assets

Equipment

-

Equity

Owner's Current Account

Ahmed's Current Account

-

Revenues

Rental Income

Workspace - Riyadh

-

Assets

Current Assets

Advances

Ahmed's Advance

💡 To learn the steps to add a fourth-level sub-account (such as Employee Advances Account) and link it to the bank account and payment methods, click here.

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#Frequently Asked Questions

1. Can I add a sub-account within a sub-account?
   Yes, sub-accounts can be added up to the seventh level, provided the account balance is 0 and no transactions have been recorded on it.

2. Can I delete an account added by mistake?
   An account cannot be deleted, but it can be archived. For more details on archiving, click here.

3. Can I export the chart of accounts to an Excel file?
   Yes, you can do that, click on export, and it will be exported.

4. How do I add amounts to accounts in the chart of accounts?
   Add a manual entry or opening balance and select the accounts to which the amounts are added.

5. Can I modify the account number after adding it?
   Yes, click on the three dots next to the account > Edit Account.

6. I added an account, and it did not appear in the chart of accounts?
   Refresh the page for the new account to appear.

7. Is there a specific number of second-level sub-accounts?
   There is no specific number, you can add all your accounts.

8. Can I link payment methods to accounts in assets and equity?

   Yes, you can, for more details click here.

💡 For more details on chart of accounts definitions:

Rewaa Accounting System's Chart of Accounts.pdf