This guide covers the specification of accounts in Netvisor, including the creation, editing, and management of account groups and accounts. At the bottom of the guide, you will find Netvisor's default specifications of accounts and the applied business formula as Excel files.

CONTENT

Access rights 

The specification of accounts can be accessed via the path Financial management > Bookkeeping > Specification of accounts.

  • Access to the specification of accounts requires read rights to Account management. With this right, you cannot edit account group or account information or add new ones.
  • Editing or adding an account group or account requires edit rights to Account management and the KP role.

General information about the specification of accounts and its functions

The company form selected during the establishment phase affects the company's specification of accounts.

  • Add company-specific accounts and account groups to the specification of accounts if needed.
  • Edit account names and account numbers if needed. Note that accounts for financial period profit/loss 2371 and 2375 cannot be edited.
  • Note that accounts are linked to account groups, and account groups determine how the accounts are handled in different reports.
  • As a recommendation, use the number codes according to the basic specification of accounts.

Below are the different specifications of accounts in Netvisor by company form

At the end of the article, Netvisor's default specifications of accounts and the applied business formula are attached as an Excel file.

The specification of accounts used in Netvisor is based on the basic specification of accounts confirmed in the specification of accounts standardization project in 2000–2001. The project's support group includes representatives from the Tax Administration, Statistics Finland, and the Association of Accounting Firms. The e-invoice consortium uses the basic specification of accounts' general ledger account numbers in the e-invoice posting proposal.

Free search in the specification of accounts:

  • Search for the desired bookkeeping account by account number or name.
  • You can also use part of the account name as a search criterion.

Full specification of accounts:

  • Display the company's entire specification of accounts.
  • Note that by default only active accounts are displayed.

Show hidden accounts:

  • Also display hidden accounts in the specification of accounts.
  • Hidden accounts can be identified in the list by the light gray color.

Show specification of accounts translations:

  • Display the specification of accounts translations in English and Swedish.
  • Define the company's primary and possible secondary foreign language in the company basic information for the translations to work.
  • Add language translations in the account settings for the accounts and account groups you create yourself.

Expand and collapse account groups using the plus and minus signs.

Hiding accounts from the specification of accounts: 

  • Hide unused accounts from the specification of accounts if needed, although this is not necessary.
  • Take advantage of the fact that Netvisor automatically collects the bookkeeping accounts used in vouchers and purchase invoice postings and forms a list of active accounts.
  • Note that hiding an account prevents its use in the program: the account cannot be selected in postings and does not appear in the specification of accounts.

Hiding/restoring a single account: 

  1. Open the specification of accounts via Financial management > Bookkeeping > Specification of accounts.
  2. Find the account to be hidden.
  3. Open the account information by selecting the xx link shown for the account.
  4. Remove the checkmark from "Account in use".
  5. Save the changes.

Restore a hidden account as follows:

  1. Open the specification of accounts and select "Show hidden accounts" in the search.
  2. Find the account to be restored and open the account information from the xx link.
  3. Select the checkbox "Account in use".
  4. Save the changes.

Hiding an account group: If an account group is hidden, the following must be considered:

  1. Make sure that none of the accounts in the account group are already hidden. If an account is hidden, it will become visible when the group is hidden. First restore the account to visible and only then hide the entire account group.
  2. Make sure that there are no subgroups under the group to be hidden, unless they are also to be hidden at the same time. If you hide, for example, "100 FIXED ASSETS", all groups and accounts under it will be hidden at the same time.

At the bottom of the specification of accounts, use the "Hide / Show groups" button to hide and restore account groups.

  • Use the button to hide visible groups or to show groups that are hidden.
  • Identify a hidden account by the gray text. A hidden account does not appear in the general view of the specification of accounts.
  • Show hidden accounts by searching with the option "Show hidden accounts". Otherwise, hidden accounts and account groups do not appear in searches or when browsing the specification of accounts.
  • Note that hidden accounts cannot be selected, for example, for purchase invoice posting rows or bookkeeping vouchers.
  • Restore a gray group to visible by placing a checkmark in front of the group and selecting "Hide / Show groups".

New account group

Edit account groups via the account group add/edit link on the right side of the specification of accounts.

  • Note that adding and editing an account group affects the company's balance sheet and profit and loss statement reports.
  • Make sure you have accountant rights to add an account group or account.

Add a new account group in the specification of accounts as follows:

  1. Always first add a new account group under the lowest level.
  2. If you want the account group in a range where there are already account groups at a lower level, first create the group under the lowest level.
  3. Then search for the created account group in the specification of accounts.
  4. Edit the account group from the xx link at the end of the account group.
  5. Change the level of the account group by selecting the desired level from "Account group under which this group is".

Define the information for the new account group as follows:

  1. Select the account group under which the new account group is added.
  2. Give the account group a number that is a 3-digit figure and not already in use.
  3. Note that if you want to establish an account group between numbers 222 and 223, you must first renumber 223 to 224.
  4. Note that there can be a maximum of 5 account group levels.

Note the following in the numbering and structure of account groups:

  • Balance sheet asset account group numbering: 100–199.
  • Balance sheet liability account group numbering: 200–299.
  • Profit and loss statement account group numbering: 300–999.
  • The top-level account groups cannot be changed.
  • If you create a new account group at a level where there are accounts, move the accounts under the new account group or under another account group. An account and an account group cannot be at the same level.

Default accounts for financial statements cannot be edited. You can see the default accounts for financial statements in use through the account settings used in Default postings.

Cumulative calculation:

  • Select this if you want the balance of the account group's accounts to be calculated from the start of use.
  • Leave this unselected if you want the calculation to start from the beginning of the financial period.

Show account group in the balance sheet long form:

  • Select this if you want to show the account group in detail in the financial statements balance sheet long form report.

Show account group in the balance sheet short form:

  • Select this if you want to show the account group in detail in the financial statements balance sheet short form report.

Group company account group:  Use this selection if you want to define account group-specifically whether the voucher rows assigned to accounts belonging to the account group are marked as group events in Netvisor's group calculation. The selection only affects companies that have group processing in use.

  • By default, voucher rows assigned to accounts in account groups 176, 190–199, and 292 are not marked as group events.

Creating a new account

Creating a new account

  1. Open the specification of accounts via Financial management > Bookkeeping > Specification of accounts.
  2. Select "New account" in the upper right corner of the page.
  3. Make sure you have the KP role to create a new account.

Name:

  • Give the account the desired name.
  • For a self-created account, add language translations yourself if you want to use the program in English or Swedish.

Account group:

  • Define under which account group the account is added.

VAT identifier:

Posting instructions:

  • Create posting instructions for the account if desired.
  • Note that the posting instructions are only visible behind the account.

Editing an account

  1. Open the specification of accounts via Financial management > Bookkeeping > Specification of accounts.
  2. Find the account to be edited.
  3. Open the account edit view by selecting the link in the Information column.
  4. Edit the account number, name, account group, and posting instructions as needed.
  5. Save the changes.

Deleting an account

  1. Open the account edit view from the Information link in the specification of accounts.
  2. Select "Delete account" in the upper right corner.
  • Do not delete default accounts or account groups, as deletion may affect reporting or other system automations.
  • Hide unnecessary accounts from the specification of accounts or rename them if you do not want to use them.
  • Note that it is not possible to delete an account if there are transactions on the account in any financial period.

Accounts used by the system for financial statements

The specified default accounts used by the system for financial statements can be found in the account settings used in Default postings on the bookkeeping settings side. By default, they are as follows:


  • 2251 - Previous financial periods' profit/loss
  • 2371 - Financial period profit
  • 2375 - Financial period loss

These accounts defined in the settings for financial statements are locked accounts in the specification of accounts, and their editing is prevented. The status "Locked" is displayed on locked accounts.

When the financial period is closed, the system creates a single-sided voucher where the calculated profit of the closing financial period is posted to the balance sheet profit/loss account 2371 or 2375. On the first day of the next financial period, a voucher is created to transfer the financial period profit to account 2251. No manual postings are made to account 2251.


Accounting Act 2016 settings

Open the Accounting Act 2016 settings by selecting Financial management > Bookkeeping > Specification of accounts > Accounting Act 2016 settings. In the view, check the up-to-dateness of the specification of accounts for the company being processed.

If the changes required by the Accounting Act have not yet been saved in Netvisor's specification of accounts, make the changes as follows:

  1. Bring the new account groups and accounts into the specification of accounts.
  2. Remove the use of account groups and accounts for extraordinary items and transfer postings made to these accounts after 1.1.2016 to new accounts.
  3. Link the accounts to be removed to new accounts if the accounts to be removed have been used in previous financial periods. Create the necessary new accounts if they do not exist.
  4. Accept the name changes for some account groups.
  5. Check that the proposed changes are desired and save them.

In the specification of accounts, you will see the change for accounts to be removed from use after the links made with the conversion tool.

  • Note that no new postings can be made to the accounts after the change.
  • Do not remove the accounts completely so that comparative data can continue to be displayed in reports.
  • If the company has a modified chart of accounts, change all account groups between 970–979 if you want to use them in the future.

Netvisor's default specifications of accounts and the applied business formula as Excel files


Importing the chart of accounts into Netvisor

It is not possible to import a chart of accounts directly into Netvisor, for example, from an Excel file.

  • Import the chart of accounts into Netvisor only by copying the specification of accounts from an existing Netvisor environment to which you have rights.
  • Use the specification of accounts copying tool to copy the specification of accounts.

Frequently asked questions

How do I access the specification of accounts in Netvisor?

You can access the specification of accounts by selecting Financial management > Bookkeeping > Specification of accounts. You need at least read rights to Account management.

What rights do I need to edit accounts and account groups?

You need edit rights to Account management and the KP role to add or edit accounts and account groups.

How do I hide a single account from the specification of accounts?

Open the specification of accounts, find the account, open the account information from the xx link, remove the checkmark from "Account in use" and save. After this, the account will not appear in the specification of accounts and cannot be selected in postings.

How do I restore a hidden account to visible?

Open the specification of accounts, select "Show hidden accounts" in the search, open the account information from the xx link, select the checkbox "Account in use" and save.

Can I delete an account that has had postings?

You cannot delete an account if there are transactions on the account in any financial period. However, you can hide the account or rename it.

Can I edit the financial period profit/loss accounts?

You cannot edit the financial period profit/loss accounts 2371 and 2375, as they are locked default accounts for financial statements.

How do I create a new account group in a specific place in the specification of accounts?

First create the account group under the lowest level, search for it in the specification of accounts, open editing from the xx link and change the level from "Account group under which this group is". Note the account group numbering ranges and that an account and an account group cannot be at the same level.

How do I check the up-to-dateness of the changes required by the Accounting Act 2016?

Open Financial management > Bookkeeping > Specification of accounts > Accounting Act 2016 settings. Check the proposed changes, link the accounts to be removed to new accounts and save the changes.

Can I import a chart of accounts from Excel into Netvisor?

You cannot import a chart of accounts directly from an Excel file. You can only import the chart of accounts by copying the specification of accounts from another Netvisor environment using the specification of accounts copying tool.

Keywords

specification of accounts, account group, account, editing an account, deleting an account, hiding an account, hiding an account group, creating an account group, creating an account, VAT identifier, posting instructions, default accounts for financial statements, Accounting Act 2016 settings, Netvisor default specification of accounts, applied business formula, importing the chart of accounts into Netvisor, specification of accounts copying tool

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.