Article Objective: To assist admin users in navigating the Admin Centre within Active Workpapers to add a standard chart of accounts for a firm. This ensures a tailored and standardised solution is developed for the specific firm. |
Accessing Workpapers admin in Admin Centre
Navigate to the Active Platform home page.
Click on your name icon and press Admin Centre.
Click on Workpapers Admin under the Workpapers banner.
Select Standard Chart under the Binders tab.
Active Workpapers ships with a Business Fitness standard chart of accounts.
Adding standard accounts
From the standard chart screen, right-click on the account type and click Add Standard Account.
Enter details such as account name, account type and relevant entity types. In this case we will add Cash and Cash Equivalents as a standard account, with a Cash and Bank Balances account type and it will be relevant to all entities.
If you wish for the account to be a lead schedule, select the 'Lead Schedule' checkbox. For more information regarding lead schedules, see the knowledge article: How to use lead schedules.
Click Save and Close.
Note: If there are name variants for the account you are adding, refer to the 'Adding a standard account with name variants' section.
This will now appear as a heading in the standard chart.
Adding a standard account with name variants
From the standard chart screen, right-click on the account type and click Add Standard Account.
Enter details such as account name, account type and relevant entity types. In this case we will add Share Capital as a standard account, with a Capital account type and it will be relevant to both companies and trusts.
Although share capital account is not specifically relevant to trusts, a variant of this, being the settlement sum and issued units accounts are. This is where the Name Variants section needs to be filled out.
Select the relevant jurisdiction (if applicable), entity type and account name variant. Click Add.
Complete this process for all relevant entities and click Save and Close.
This will now appear as a heading in the standard chart.
If you would like to view the standard chart of accounts relevant to a particular entity, change the entity type in the top left corner of the screen.
For example, if partnership was selected as the entity, the share capital account would not display in the standard chart as this is only relevant for companies and trusts.
