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How to Add a New Chart of Account

You can add new chart of accounts (COAs) directly in Inn-Flow. Before you start, make sure you know the account number, account name, and how the account should be classified on your financial reports.

Steps to Add a New COA

  1. Go to Administration > Chart of Accounts and click the Add COA button on the green tab in the top-right corner of your screen.

  2. Enter the Account Number and Account Name.

  3. Select the Account Type. This determines which financial statement the account appears on. The available options are:

– Asset – Balance Sheet (e.g., Cash, Accounts Receivable, Prepaid Expenses)

– Liability – Balance Sheet (e.g., Accounts Payable, Accrued Expenses, Tax Payable)

– Equity – Balance Sheet (e.g., Retained Earnings, Owner's Equity)

– Revenue – P&L (e.g., Room Revenue, F&B Revenue)

– Expense – P&L (e.g., Payroll, Utilities, Supplies)

4. Select the Main Group, Sub Group 1, Sub Group 2, and Sub Group 3 (Sub Group 3 appears when Sub Group 2 is set to Payroll).

Note: The Main Group and Sub Group selections control where this account sits on your financial reports. Choosing the wrong classification will place the account in the wrong section of every report.

  • The Main Group sets the top-level section (e.g., Current Assets, Operating Expenses, Rooms Revenue).• Sub Group 1 and Sub Group 2 narrow the placement further within that section.• Sub Group 3 will appear when Sub Group 2 selection is Payroll.

5. Select the Row Title.

The Row Title determines the account's placement within the financial report. You can select to match the row title to the account name, create a new row title, or select from one of the existing row titles. This is a way to group multiple COAs into one row. For example, instead of showing Sales Tax, Occupancy Tax, Use Tax, etc. as separate lines on a Balance Sheet, they can all appear in a single row using this feature.

6. Select the appropriate Cash Flow Mapping.

7. Click Save & Close.

IF Pro Tip: If you are unsure what number or classification to use, open a similar chart of account that already exists. Use an account number that follows that COA and match the same COA classification (Main Group, Sub Groups, Row Title, and Cash Flow Mapping).

Adding the COA to Budgets

If you need to add this chart of account to the operational or capital budgets, go to that budget page and click Select COAs in the top-right corner of the page.

Once selected, you can add the COA to other properties' budget pages or add it for a single property.

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