4. How do I change the default chart of accounts?

"How do I change the default chart of accounts?"

By default, 1st Money sets defaults for each of the accounts that a payroll group's payday debits and credits are sent to.

To change a default chart of accounts that a payroll group's payday debits and credits are sent to:

1. First, select the payroll group on: "Menu", then "Payroll groups"
2. Then tap: "Settings", then "Payroll group settings"
3. Then on the "Settings" tab, scroll down to the "Accounting" heading.
4. As long as you've already connected "Accounting package", the links show, and you can tap the "Chart of accounts" link.
5. Then once the "Chart of accounts" has loaded on the side, you can scroll down and tap the one you'd like to change.
6. When you open each one, you'll see each has different accounts listed.
7. The accounts come directly from your accounting package, and it only shows account types that might be compatible with the transaction type.
8. Some may have only one account listed, which means you'll need to add another account in your accounting package, before coming back to change it.
9. Others may have multiple accounts listed.
10. Some accounts have the label "1st Money" on the end, which means it's the recommended account, added by 1st Money when you first connected.
11. However, if you know what you're doing, tap the one you'd like to change, and select its new option.
12. Then once you've finished changing any other chart of accounts, and tap: Save
13. And finally, the next time you do a payday, the payday debits and credits are sent using the updated chart of accounts from now on.

Keep in mind that:

• Changing the default chart of accounts isn't recommended, and is for experienced professionals only.
• However, it may occasionally be necessary, for example if you're merging transactions between two payroll systems.

And that's it! That's everything you need to know about changing a payroll group's default chart of accounts!