Accounts Settings is where you configure the master data that drives the Accounts module — your chart of accounts, cash and bank accounts, payment instruments, taxes, cost centers, and period controls. These settings appear as sub-items under Accounts → Settings.
| **Setting** | **Description** |
|-------------|-----------------|
| Chart of Accounts | The complete list of accounts defined for the company. Add new ledger accounts here. |
| Expense Account | Operating and non-operating expense accounts used on expense entries. |
| Cash/Bank Accounts | Your cash, bank, and wallet accounts. Create new accounts and set their opening balances. |
| Prepaid Accounts | Accounts used to track prepaid expenses as assets until they are recognized. |
Payment Instruments
Define specific payment methods — such as NEFT, RTGS, UPI, and Deposit — and link them to your bank and digital wallet accounts. (Cheque is a separate payment mode, not an instrument.)
Create form fields
| **Field** | **Required** | **Description** |
|-----------|--------------|-----------------|
| Name | Yes | Instrument name (e.g. NEFT). |
| Pay Mode | Yes | Either Bank or Digital Wallet. |
| Description | Optional | Notes about the instrument. |
See the Payment Instruments page for full setup, account linking, and how instruments appear in transaction payment modes.
Taxes
| **Setting** | **Description** |
|-------------|-----------------|
| Taxes | Create and view tax rates applied across transactions. |
| Tax Groups | Group multiple taxes that apply together. |
| Tax Class | Classify items and map them to the individual taxes that apply by supply type. |
| RCM Tax | Reverse-charge mechanism tax configuration, where applicable. |
Mapping & Cost Centers
| **Setting** | **Description** |
|-------------|-----------------|
| Transaction Account Map | Map transactions to their default accounts so postings route correctly. |
| Cost Centers | Define departments or functions used to allocate costs and analyze spending. |
Opening & Closing
| **Setting** | **Description** |
|-------------|-----------------|
| Opening Balances | Set the starting debit or credit balance for chart-of-accounts ledgers. See Opening Balance. |
| Closing Entries | Transfer income and expense balances to retained earnings at period end. See Closing Entries. |
Cheque Print Templates
Configure cheque print layouts used when printing issued cheques. See Cheque Print Templates.
FAQ
Which screen creates bank accounts? Cash/Bank Accounts — link to Chart of Accounts and set opening balance at creation.
Where are default TDS and discount accounts set? Transaction Account Map drives GL lines on receipt and payment vouchers.
What is the difference between Closing Entry and Month Closing? Closing Entries transfer P&L to retained earnings for a date range. Month closing (if enabled) locks a full period after compute.
Do tax settings here affect old vouchers? Tax master changes apply to new transactions. Approved vouchers keep posted tax unless revised or cancelled.
Where do cost centers connect? Cost Centers allocate expenses when cost center tracking is enabled on expense entry.