Skip to main content

Why we chose a set or pre-defined Chart of Account



  • Douglas Martz

    Yellow is only good for the first time a transaction is recieved, if a user is using the system correctly.  most all businesses use the same vendors over and over, with similar transactions, so after one or two weeks most all transactions should be coming in blue if a user cares about his proper books,. so as a trade off to do this (not allow manipulation of current assets) or and not allow the inability to have more than 100 custom accounts because it minimizes the effectiveness of "yellow" is, in my opinion, a weak reasoning to not allow 250 or more custom accounts that would not respond to yellow.

  • Doug Levin

    Yes, you are correct.  As you categorize transactions the blue engine learns and takes over. 

    However for new users and new vendors the yellow engine gives them a solid preliminary answer.

    Also, this gets into the issue of how varied our users "keep" their books.  We have users that are religious about going all green (eventually "reviewing" everything) and others at the other extreme that only categorize their reds.  

    Plus 250 custom accounts with data would turn a financial statement into an 8 page monster.  

    At the time we settled on 100 it was still early before launch during testing, when it possible to change.  Now it would be very very challenging.  

  • Emily Willix

    I have added some custom accounts to my chart of accounts (for instance, under Income, I have added "Grants and Awards.") However, they don't seem to function! I can't seem to categorize any transaction this way. I start typing the name of this account, and it simply doesn't appear in the drop-down. What am I doing wrong?


Please sign in to leave a comment.