How to Add Other Accounts

Any accounts that fall outside the Bank or Investment account range are added as Other accounts. For example, any individual income and expense accounts not linked to an asset, investment or liability are referred to as an other account. 

How to add an Other account to the Chart of Accounts

1. From the Chart of Accounts screen, select Add Account and select Other.
   
   

2. Select the Account Class. From the drop-down list below, select Normal, Control or Sub Account.

   Account Class	Explanation
   Normal	A directly postable account type used for bank accounts, individual income and expense accounts.
   Control	An account type used to group sub accounts. You cannot post transactions directly to these accounts.
   Sub Account	A directly postable account grouped under a Control account.

3. SF360 will automatically attach the investment to the fund. If you want to attach the investment account to all funds in SF360, tick the Attach to all Funds? check box. Click Select Funds and select the funds from the drop down list below if you would like to attach the security to a select few. 

4. Input the account Code and account Name in the relevant fields. 

     Click here for more information on account range >>>

   Account Type	Simple Fund Account Code Range	SF360 Account Code Range
   Income	200 - 299	20000 - 29999
   Expenses	300 - 499	30000 - 47999
   Taxation/Allocation	485 - 499	48000 - 49999
   Member Accounts	500 - 599	50000 - 59999
   Other Assets	600 - 699	60000 - 69999
   Investments	700 - 799	70000 - 79999
   Liabilities	800 - 899	80000 - 89999
   Suspense	999	90000 - 99999

   Refer to the 1.3 Consolidation of Chart of Accounts help for a more detailed comparison of the account code ranges between Simple Fund and SF360.

5. Next, select More Details to complete the following information for the investment:

   Account Option	Explanation
   Tax Label	This is the tax label against where the account will show in the income tax return. Select the appropriate label.
   In House Status	Select theIn HouseStatus of this account (if applicable).
   GST Rate	Select the GST rate of the account (if applicable) from the drop-down list.

6. Once you have finished inputting the above account information, select Save to add the account to the chart of accounts or Cancel to not add the account.