If you’d like to use the accounting features in Chillhub, refer to the following guide for step-by-step instructions on configuring the chart of accounts, account rules, and financial periods.

• Manage Chart of Accounts
  • Account Form
• Configuring Financial Period
  • Financial Period Form
• Manage Account Rules
  • Account Rules Form

For more information on accounting features and financial reports, please refer to the Accounting & Financial Reports.

1. Log in to Chillhub App.
2. Navigate the Accounts Chart page by selecting Menu → Accounting → Accounts Chart
   
   
3. The following options are located on the toolbar
   • Search: Allows you to search for specific data
   • Refresh: Updates the current view by reloading the data
   • Export to Excel: Enables exporting the current view data to an Excel file.
   • New: Creates a new entry or record in the system.
4. More options:
   • Expand all: Expand all account root types
   • Collapse all: Collapse all account root types
   • Configure Financial Period: Set up financial periods and define opening balances for each account.
   • Configure Rules: Specify default accounts for particular transactions and industries.
5. Data Table: (Note that some of these columns may be hidden in the row details)
   • : Expand row to view more details/child accounts.
   • : Collapse row to hide details/child accounts.
   • : Edit account details (Mobile View: expand row to access)
   • : Delete an account (Mobile View: expand row to access)
   • : Add a child account (Mobile View: expand row to access)
   • Account: Name of account
   • Code: Unique account code.
   • Description: Description of the account.
   • Root Type: Classification of the account as Assets, Liability, Equity, Revenue, or Expenses.

• Account: Name of account
• Code: Unique account code.
• Root Type: Classification of the account as Assets, Liability, Equity, Revenue, or Expenses.
• Parent Account: The higher-level account under which this account is group (if applicable).
• Description: Description of the account.
• Is Group: Indicates whether the account is a group account.
• Asset Type: Current Asset/Non-Current Asset (only applicable when root type is Asset)
  • Current Asset: Short-term assets expected to be converted into cash within one year (e.g., cash, inventory, accounts receivable)
  • Non-current Asset: Long-term assets that will not be liquidated within a year (e.g., land, buildings, equipment)
• Obsolete: Mark this account as obsolete to indicate it is no longer used. Obsolete items will be hidden from selection in future transactions but retained for historical records.
• Liability Type: Current Liability/Non-Current Liability (only applicable when root type is Liability)
  • Current Liability: Debts or financial obligations expected to be settled within one year (e.g., accounts payable, SST tax payable).
  • Non-current Liability: Debts due for repayment beyond one year (e.g., long-term loans).
• Cash Account Attributes
  • Cash Account: Indicates that the account can be used for receiving or making payments (e.g., bank accounts, cash in hand). Only applicable when root type is Asset
  • Credit Card Payable: Indicates that the account can be used for making payments. Only applicable when root type is Liability
  • Exclude from Statements: Prevents payment transactions related to this account from appearing in debtor or creditor statements. This is useful for handling overpayments or advance payments, which can be applied to future invoices instead of being refunded. Only applicable for Cash Account
• Inventory Account Attributes
  • Inventory Account: Indicates that the account is an inventory account. Only applicable when root type is Asset
  • Cost of Good Sold Account: The corresponding Cost of Goods Sold (COGS) account when inventory items are sold. Only applicable for Inventory Account
  • Inventory Adjustment Account: The corresponding Cost of Goods Sold (COGS) account when there are adjustments on the inventory item. Only applicable for Inventory Account
• Liability Account Attributes
  • Taxes Payable/Deferred Account: Marks the account as used for tracking tax amounts. Only Applicable when the root type is Liability.
• Expense Account Attributes
  • Cost of Goods Sold: Indicates that the account is a COGS account, covering any costs directly tied to producing products sold to customers (e.g., direct labor wages, purchase price, shipping costs). Only applicable when root type is Expenses.
  • Non-cash Expenses: Expenses such as Depreciation and Amortization, which do not involve actual cash transactions. Only applicable when root type is Expenses.

1. Navigate to Accounts Chart page
2. Click Configure Financial Period button at the top right.
3. Managing Financial Periods:
   • To create new financial period, click New button at the top right.
   • To edit existing financial period, click button in the corresponding data table row.
   • To delete existing financial period, click button in the corresponding data table row.

Define a financial period by specifying its name, start and end dates, and setting up opening balances for relevant accounts.

• Financial Period Name: Name of the financial period.
• Start Date: The beginning date of the financial period.
• End Date: The ending date of the financial period.
• Opening Balance Data Table:
  • Account: The account to which the opening balance applies. (read-only)
  • Opening Balance: The initial balance carried forward for the selected account.

1. Navigate to Accounts Chart page
2. Click Configure Rules button at the top right.
3. Managing Account Rules:
   • To create new account rules, click New button at the top right.
   • To edit existing account rules, click button in the corresponding data table row.
   • To delete existing account rules, click button in the corresponding data table row.

Define account rules to specify default accounts for particular transactions and industries.

• Account Rule: Name of the account rule.
• Industry:(Optional) Specifies default accounts based on industry type (e.g., a specific Revenue or Inventory Account for a particular industry).
  1. Create a new account rule
  2. Specify the industry to override default settings.
  3. Assign the default accounts to be overridden.
• Default Cash Account: Default cash account for payment transactions.
• Default Cash on Hand: The default cash account used when the payment method is Cash.
• Default Bank Account: The default cash account used when the payment method is Bank Transfer.
• Default E-Wallet Account: The default cash account used when the payment method is E-Wallet.
• Default Cheques Clearing Account: The default cash account used for customer payment when payment method is Cheque
• Default Card Clearing Account: The default cash account used for Customer Payment when payment method is Credit Card or Debit Card
• Default Card Payable Account: The default account used for Supplier Payment when payment method is Credit Card or Debit Card
  • Must be Liability account with Credit Card Payable enabled
• Inventory Tracking Method: Determines whether inventory and COGS are updated in real time (Perpetual) or at period end (Periodic).
  • Perpetual: Purchases are recorded in the Inventory Account, with inventory and COGS updated in real time with each purchase and sale transaction.
  • Periodic: Purchases are recorded in the Purchase Account, with inventory and COGS updated manually at the end of each financial period.
• Default Inventory Account: Default account for recording inventory movements under the Perpetual method.
• Default Purchase Account: Default account for recording inventory purchases under the Periodic method.
• Default Sales Revenue Account: Default account for recording sales (product) revenue.
• Default Service Revenue Account: Default account for recording service related revenue.
• Default Accounts Payable Account: Default account for supplier payables.
• Default Accounts Receivable Account: Default account for customer receivables.
• Default Foreign Exchange Gain Account: Default account used to record gains arising from favorable exchange rate differences in foreign currency transactions.
• Default Foreign Exchange Loss Account: Default account used to record losses arising from unfavorable exchange rate differences in foreign currency transactions.
• Default Unearned Revenue Account: Default account used for recording advance payments received for sales orders.
• Default SST Payable Account: Default account used for tracking Service Tax or Sales Tax that is already due.
• Default Service Tax Deferred Account: Default account used for tracking Service Tax invoiced but not yet due until payment is received.