Updating and Reformatting Rakefet Chart of Accounts
The first step to reformatting your Chart of Accounts is to know what you have and plan, plan, plan... Run the Chart of Accounts report by Account. This report can be found by going Reports--> General Ledger --> Chart of Accounts. This report can be organized a few ways so please refer to the Preference area in the Report Setup to conform the report prints by Accounts. The Chart of Accounts report can be printed out or saved to a file. If you save the report to a file such as CSV, you can open the it in Excel, set up columns and plan out your new account numbers against your old numbers. When organizing your accounts, we highly suggest using numerical sequencing. For example, all Income Accounts should be numbered between 000001-499999 and all Expense Accounts should be numbered 500000-999999.
- Within these two divisions I suggest this guidelines below for Income Accounts:
- 01 <-- prefix to membership income
- 02 <---prefix to next most common pledge / income account, such as building fund
- 10 <-- prefix to religious school income
- 20 <-- prefix to program income
- 30 <-- prefix to fundraising income
- 40 <-- prefix to donation income
- For example:
- 010000 Membership Prior Years
- 011718 Membership 2017-2018
- 011819 Membership 2018-2019
- Within the two divisions I suggest this guidelines below for Expense Accounts:
- 50 <-- Office / Building Expenses
- 60 <-- School Expenses
- 70 <-- Program Expenses
- 80 <-- Fundraising Expenses
- 90 <-- Ritual Expenses
- For example:
- 500000 Office Salaries
- 500100 Professional Services
- 600000 Teacher Salaries
- 600100 Classroom Supplies
After you have a plan and the plan is mapped out, you can proceed to the next steps listed below:
Make a Rakefet backup (and know where it is if needed). Proceed to Change Accounts:
- Go into Utilities --> Maintenance Mode --> Toggle Maintenance Mode ON
- Go back into Utilities --> Maintenance Mode to access the now active menu and select Change Account Numbers.
- Highlight the account you wish to change (one at a time) and type the new number in the field to the right.
- Click the Change button. From now and historically, the account will be known by this new number. If there is an account already by this number, it will merge with a warning message (make sure if this message appears to merge that it is what you want).
- When finished changing your accounts, go back to Utilities--> Maintenance to reselect Maintenance Mode to Toggle Maintenance Mode OFF.
If you have further questions about changing account numbers within your Rakefet software, please let us know. We are very happy to assist you and even do a screen share training appointment to assist you every step of the way!