Chart of Accounts

Open Chart of Accounts from the top of the client sidebar. The chart drives transaction coding, journals, reconciliations, financial reports, tax mapping, and the accounts shown on the Banking page.

Account balances

Asset, liability, and equity accounts show their posted ledger balance through today. Expense accounts show net posted expenses from the start of the client's current fiscal year through today. The Expenses section displays the actual fiscal YTD date range. Refunds and credits reduce the expense amount; draft, pending, and future-dated entries are excluded.

Fiscal YTD follows each client's fiscal calendar, including non-calendar and 52/53-week years. A new fiscal year starts a new display period without changing historical entries. The Include subaccounts setting also applies to expense totals.

Create an account

Select Add account.
Enter a unique account code and name.
Choose the account type. Wesley groups types under Assets, Liabilities, Equity, Revenue, and Expenses.
Choose a parent account when the account should be a subaccount.
Add a description or tax-line mapping when applicable.
Save the account.

When creating an account, you can also enter an opening balance and date. Wesley creates the related opening-balance journal activity separately from the account itself. Review that entry in Journal Entries after saving, especially if the account was created during conversion.

Import a chart

Use Import accounts to reuse a chart from another firm client or an available source. Wesley shows a preview before import:

Select only the accounts the client needs.
Selecting a child also includes the required parent.
Clearing a parent clears its children.
Conflicts, duplicate codes, missing codes, and unavailable account types are identified before import.

Some onboarding paths also offer AI-assisted chart creation from an uploaded chart or business context. Review the proposed account codes, names, types, and hierarchy before approving creation.

Edit and organize accounts

You can search the chart and sort by account, type, or code. Edit an account to correct its name, code, description, type, parent, or tax mapping. Account codes must be unique inside the client book.

Changing an account's name, type, or parent can change how it appears in reports, but it does not rewrite existing journal lines. Review financial reports after structural changes such as moving an account under a different parent.

Make an account summary-only

Open an account, expand Advanced settings, and select Summary only (non-posting). Save the account to prevent direct posting and exclude it from transaction suggestions. Use this for a parent account whose activity should be recorded in its subaccounts.

Existing journal entries and report balances remain available. Pending suggestions that reference the account, including split suggestions, are cleared for review. New entries, reclassifications into the account, and changes to existing debit or credit amounts are blocked; annotations and reclassifications out of the account remain available. Clear the option and save to allow direct posting again. Subaccounts keep their own posting settings.

Require transaction details

Open an account and use Required transaction fields to add the details that must accompany postings to that account. Enter a field label, select Add field, and save the account. For example, a travel commission income account can require Travel Supplier, Booking Number, and Traveler or Group Name. Fields accept text, including booking numbers with leading zeroes.

When posting a bank transaction to that account, Wesley asks for any missing details. Use Save details to keep the inputs without posting, or complete the details and post. In a split entry, enter the details under each relevant line's account; different reservations can have different values. Save transaction details keeps those line inputs while the bank transaction remains pending.

Automatic posting waits when required details are missing. Existing journals are not rewritten when you add a requirement, and imported provider ledgers keep their source records. To correct posted values, open Manage Entry and edit the details on the relevant line. Unposting restores the line values to the pending transaction's draft. Renaming a field keeps its existing values; removing a requirement does not delete recorded values.

Assign tax lines in bulk

Set the client's federal return form before assigning tax lines. Select multiple accounts with the checkboxes in Chart of Accounts, then choose Assign tax line. Review each account's current assignment and choose the shared tax line. Wesley shows how many accounts will move from another line before you save. You can also select Unassigned to clear the selected accounts' existing assignments.

Multiple accounts may share one tax line. Income Tax Summary shows their combined amount; expand a line to review each contributing account and its amount. Check the unassigned sections and any zero-total lines with offsetting account balances before using the report for tax preparation.

Schedule C line numbers in Income Tax Summary follow the report year. Existing imported assignments remain visible even when they are no longer offered as a new selection.

Bank and card accounts

Banking shows bank and credit-card ledger accounts by default. Other asset and liability accounts, such as clearing or loan accounts, can also be shown deliberately. From Banking, you can add an existing eligible chart account or create a new account and connect or import its source data where supported.

Hiding an account from Banking does not delete it. Historical journals, imported transactions, and reconciliation records remain in the client book. Use this when an old or inactive account should no longer occupy the Banking dashboard.

Review an Undeposited Funds balance

For a negative Undeposited Funds balance, select Review balance next to the amount. You can also open this review from the account detail in Reports. Choose an As of date to compare that balance with the balance across all recorded dates, including future entries.

The review pairs deposits with linked receipts dated after the deposit, even when those receipts fall outside the report period. Select Edit receipt or Edit deposit to inspect the transaction and its activity history, then correct the date that differs from the actual event. Editing requires permission, and existing period locks still apply.

When changing a journal entry's date, Wesley previews its effect on Undeposited Funds at the earlier of the original and proposed dates. This preview includes only the date change, not other unsaved edits, and does not prevent saving a correction. Date differences may explain only part of a balance; if none are found, review the account's other journal entries and receipt links.

Delete carefully

Delete is intended for accounts that were created by mistake and are not required by accounting history. If an account has linked activity, resolve or reclassify that activity first. For an account that is no longer used but has history, keep the account and make it inactive or remove it from the Banking view instead.

Before transaction review

Confirm that:

every connected or statement-based bank/card source maps to the correct ledger account;
opening balances are dated correctly;
parent and subaccount relationships match the desired financial-statement presentation;
revenue and expense accounts have the tax mappings the client expects;
duplicate accounts from imports have been resolved.

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