How to Add a Capital Account in GPOS Accounting

This tutorial will guide you through the step-by-step process of creating a new Capital Account in GPOS Accounting.

🛠️ Why You Need to Add a Capital Account

• To record the owner’s equity or investment in the business

• To keep track of capital contributions and withdrawals

• To maintain accurate accounting records and financial reports

• To set an opening balance for new accounts

📋 Steps to Add a Capital Account in GPOS

✅ Step 1: Go to the Accounting Module

1. Log in to your GPOS dashboard.

2. From the side menu, navigate to the “Accounting” module.

3. Select the “Chart of Accounts” or “Add New Account” option.

✅ Step 2: Enter Basic Account Details

1. In the Name* field, enter the Account Name (e.g., Capital Account – Owner).

2. Select the appropriate Account Group* (e.g., Capital under Liabilities).

✅ Step 3: Set Opening Balance

1. Enter the Opening Balance amount, if applicable.

2. Choose whether the balance is a Debit or a Credit.

✅ Step 4: Add Remarks

1. In the Remarks field, type any notes or references related to this account (e.g., “Initial investment by owner”).

2. Additional remarks can be entered if needed.

✅ Step 5: Save the Account

1. Review all entered details carefully.

2. Click on the “Save” button to add the capital account.

3. The new account will now appear in your Chart of Accounts.

🔐 Important Notes

• Only authorized users can create or edit accounts.

• Once created, the account can be used in journal entries, vouchers, and reports.

🎯 Tips

• Always select the correct Account Group (Capital/Equity) for proper financial reporting.

• Enter opening balance only when required; otherwise, leave it blank.

• Use clear account names (e.g., “Capital Account – Owner” or “Capital Account – Partner A”).

By following these steps, you can easily add a Capital Account in GPOS Accounting and keep your financial records accurate and organized.