Create a Chart of Account

Step-1: Log in to the Asaan Retail portal.

Step-2: Hover your cursor to the flyout menu on the left and click the ‘Financials’ icon. Then, click “Chart of Accounts”.

Step-3: In the new window, click on the “+ Create Chart of Account” button.

Step-4: In the pop-up window, enter your Chart of Account details like:

Under ‘Basics’ heading specify,

• Name (Name your Chart of Account)
• Description
• Type
  • Assets - The amount of money you or your company owns
    • Nature: Debit
  • Liability - the amount of money you or your company owes
    • Nature: Credit
  • Income/Revenue - the amount of money earned through the provision of your business's primary products or services
    • Nature: Credit
  • Expense - the amount of money you spend to run a business
    • Nature: Debit
  • Equity/Capital - money or cash invested and available to run a business
    • Nature: Credit

Under ‘Opening Balance’ heading specify,

• Payment Mode (You can choose from Cheque, Card, Cash, or Online)
• Amount (Opening balance for the Chart of Accounts you are going to create)

Under ‘Permissions’ heading specify,

Note: If you enter the opening balance while creating your Chart of Account, it will be added in the transactions automatically with the payment mode you will enter here.

Step-5: Click the ‘Create’ button to create your Chart of Accounts and it will appear in your Chart of Accounts profile with the opening balance of 10,000 PKR.

In the ‘Chart of Accounts Transactions’ you can view the details of the ‘opening balance’ entry: