When you fill in the template to create an Excel organisation, you need to set up System Accounts within the Balance Sheet tab.
What are system accounts?
System accounts are required in a Futrli organisation, and are used when building forecasts. They’re the same as the default accounts set up in the forecast settings.
Set up the system accounts
Before you upload the template into Futrli, you need to assign the following system accounts in column D:
📎NOTE: By default, system accounts are already assigned to the first row in each of the relevant category in the template. However, you can assign them to any of the rows within the category.
Main Bank
Select and assign the label 'Main Bank' to one of the accounts in the Bank category.
📎NOTE: This account will be used when creating a prediction in a forecast.
Accounts Receivable
Assign the label 'Accounts Receivable' to one of the accounts in the Current Assets category.
📎NOTE: When a prediction is created for incoming money, this account will be used when payment terms are set.
Accounts Payable
Assign the label 'Accounts Payable' to one of the accounts in the Current Liabilities category.
📎NOTE: When a prediction is created for outgoing money, this account will be used when payment terms are set.
VAT Control Account
Assign the label 'VAT Control Account' to one of the accounts in the Current Liabilities category.
📎NOTE: If the organisation doesn’t pay VAT/GST/sales tax, VAT/GST/sales tax settings can be updated in predictions.
Retained Earnings
You don't need to assign the Retained Earning system account as it is already set against the Retained Earnings account name by default. This account is a system-generated account and shouldn’t be changed.
📎NOTE: If there’s no data for retained earnings to be uploaded, this account will still need to be assigned in the template and shouldn’t be removed.
⚠CAUTION: Current year earnings are calculated automatically and shouldn't be uploaded.
Check List
To avoid any errors during the upload, make sure:
You assign all system accounts listed above, and only to one account
Each one of the system accounts is assigned to an account within the correct category
Each system account is paired with a unique code and an account name, those fields can’t be left empty
For more information, visit our upload errors guide.