Accounts and Account Groups

A Chart of Accounts is the complete list of categories used to record all financial transactions. In traditional accounting terms, these categories are also known as Nominal Accounts.

In EasyPC Accounts, these are referred to as Account Names.

Each time you record a receipt or payment, it must be assigned to an Account Name (Nominal Account). This ensures transactions are grouped consistently and reports can be produced with meaningful totals.

A Simple Analogy

Think of your finances like a set of folders:

  • An Account Group is like a main folder (e.g. Administration or Maintenance)
  • An Account Name is a file inside that folder (e.g. Stationery or Salaries)

Every transaction is placed into the correct “file”, which sits inside a “folder”.

This makes it easy to:

  • Find specific types of spending or income
  • See totals for each category
  • Keep everything organised and consistent

Key Concepts

  • Account Name (Nominal Account)
    This is the specific category a transaction is recorded against.
    Examples include:
    • Stationery
    • Salaries
    • Bank Interest
    • Burial Fees
  • Account Group
    This is a higher-level category used to group related Account Names together for reporting purposes.
    Examples include:
    • Administration
    • Maintenance
    • Income
  • Chart of Accounts
    The full list of all Account Names and their associated Account Groups.

Reports then total each ‘file’ and ‘folder’, giving both detailed and summary views of your finances.

Administration
 Stationery
 Computer supplies
 Salaries
Maintenance costs
 Grounds maintenance
Other payments
 Miscellaneous payments

How This Works in Practice

Every transaction:

  1. Is assigned to an Account Name (Nominal Account)
  2. Which sits within an Account Group

This structure allows reports to show:

  • Detailed figures (by Account Name)
  • Subtotals (by Account Group)

Note that, while the first two can be changed or deleted, the account for VAT repayments cannot be changed. Additional Account Names can be added using the Setup,  Manage Accounts menu.

Default Accounts

When the software is first installed, the following Account Names are created:

  • Miscellaneous Receipts (in Other Receipts)
  • Miscellaneous Payments (in Other Payments)
  • VAT Repayments (in Other Receipts)

The first two can be edited or deleted.
The VAT Repayments account is fixed and cannot be changed.

Managing Your Chart of Accounts

You can customise your Chart of Accounts to suit your organisation:

  • Create new Account Groups via the Manage Account Group screen
  • Create new Account Names via the Manage Accounts menu

The following is an example of Account Groups

Managing Your Chart of Accounts Layout


You can customise your Chart of Accounts layout to suit your organisation:

  • Reorder how items appear in reports using the Edit Receipt accounts layout screen for  Receipts (Income)

  • Reorder how items appear in reports using the Edit Payment accounts layout  screen for  Payments (Outgoings)

Why This Matters

A well-structured Chart of Accounts:

  • Makes reports easier to understand
  • Ensures consistency in how transactions are recorded
  • Helps meet accounting and audit requirements