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Account — Employee clearing account

The Employee Clearing Account is a built-in account in Manager.io that tracks transactions related to employees, such as wages payable and deductions. While this account is essential and cannot be deleted, you have the flexibility to rename it and customize its placement within your financial statements. This guide will walk you through the steps to rename the Employee Clearing Account and adjust its settings.

Accessing the Account Settings

To rename the Employee Clearing Account, follow these steps:

  1. Go to the Settings tab in Manager.io.
  2. Click on Chart of Accounts.
  3. Locate the Employee Clearing Account in the list of accounts.
  4. Click the Edit button adjacent to the account name.

Account Fields and Customization

When you click Edit, you'll be presented with a form containing the following fields:

Name

  • Description: The name of the account as it will appear throughout Manager.io.
  • Default: Employee Clearing Account.
  • Action: Enter a new name for the account if you wish to rename it.

Code (Optional)

  • Description: An optional field to assign a unique code to the account.
  • Purpose: Useful for sorting and organizing accounts, especially if you use account codes in financial reports.
  • Action: Enter an account code if desired.

Group

  • Description: Determines under which group on the Balance Sheet the account will be displayed.
  • Action: Select the appropriate group from the dropdown menu to categorize the account accordingly.

Saving Changes

Once you've made the desired changes:

  1. Click the Update button at the bottom of the form.
  2. Your changes will be saved, and the account will reflect the new settings.

Important Notes

  • Non-deletable Account: The Employee Clearing Account is a system account in Manager.io. It cannot be deleted but can be renamed and repositioned within your financial statements.
  • Automatic Creation: This account is automatically added to your Chart of Accounts when you create at least one employee in Manager.io.
  • Related Guides: For more information on managing employees, refer to the Employees guide.

By customizing the Employee Clearing Account, you can align your financial reporting with your organizational preferences, making it easier to manage employee-related transactions.