Creating Departments and Accounts on the Chart of Accounts

  • Updated
A Chart of Accounts is a listing of the accounts that a company has identified as most essential to their business. They are made available for recording transactions in its General Ledger. A company has the flexibility to tailor its Chart of Accounts to best suit its needs, including adding accounts as needed and creating departments. 

Many accounts are packaged with CARET Legal. These cannot be edited or removed since they work conjunctively with other reports in the Accounting module.  However, you are able to create as many accounts as you would like. 
To edit your Chart of Accounts in CARET Legal:
  1. Navigate to the Accounting section, then click the Reports tab and select the Accounting Reports filter or scroll down and select Chart of Accounts


  2. Click + in the action bar and select New Account from the drop-down menu.

  3. The New Account modal displays.

    Complete the fields:
      • Enter or select an option from the drop-down list in the Account Type field.
      • Enter an Account Name.
      • Enter an Account Number. If you have established accounts, you can enter them here to match your current records.
      • You can also sort your accounts into a Department by selecting an option from the drop-down list if it is available.
      • Select the checkbox beside Is Sub-Account if it applies.

  4.  Click Save to return to your list of Chart of Accounts which includes the new account.

  5. Click + in the tab bar and select New Department from the drop-down list.

  6. The New Department modal displays.


    • Complete the fields:
      • Enter a Department Number and Department Name in the fields provided, then click Save to complete the process.

CARET provides training on CARET Legal's features and best practices for configuring the software for informational purposes only. The information is not intended to provide or be relied on for tax, legal or accounting advice.


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