Build Your Chart of Accounts

This article explains how to add and configure accounting and program codes in your account settings to classify expenses and revenue accurately in Mazlo.

Add an Accounting Code

A well-structured chart of accounts is essential for creating an accurate and insightful profit and loss (P&L) statement. By categorizing expenses and revenue with specific accounting codes, you can better track financial activities, generate meaningful reports, and ensure compliance with tax regulations.

Step 1: Open the Account Settings and Select 'Accounting'

Click the Gear Icon ⚙ and open 'Accounting'.

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Step 2: Open the Accounting Codes Tab

When you open Accounting, first you'll land on your organization's live P&L. Click on the 'Accounting Codes' tab to start building your chart of accounts.

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Step 3: Click 'Add Accounting Code'

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Step 4: Select whether this Code is to Classify Expenses or Revenue

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Step 5: Enter the Title of the Accounting Code to Identify its Purpose

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Step 6: Enter the Accounting Code Number to Match Your Chart of Accounts

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Step 7: Select the 990 Code that the Code Represents

Click Select 990 Code.

Select the 990 code this accounting code is correlated to. Click Save.

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Step 8: Enable this Code for Tax Letter Eligibility

Check the option to enable this code for tax letter eligibility. *This will allow automatic tax letter generation for transactions coded with this accounting code.

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Step 9: Enter the Description of the Accounting Code

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Step 10: Select a Parent Code

If applicable, select a parent code for hierarchical organization.

Click on the Parent Accounting Code Field.

Select the Parent accounting code.

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Step 11: Review all the Details and Click Save

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Step 12: Tag Transactions with this Code

Now, when you tag a transaction with this code, it will support your live profit and loss (P&L) statement.

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Add a Program Code

Program codes are an essential tool for managing project finances, providing a clear way to track restricted funds, meet grant reporting requirements, and analyze the financial performance of each program.

1. Open Accounting Settings

Click the gear icon in the top-right corner of your screen.

From the menu, select 'Accounting.'

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2. Navigate to Program Codes

Within the Accounting section, click on the 'Program Codes' tab.

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3. Add New Program Codes

Next, click 'Add Program Code.'

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4. Save the Program Codes

Once you've entered the program code's details, click 'Save.'

Success! The program code has been created. Next, enable it for a project from their profile.

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Enable Program Codes for a Project

1. Open the Project Profile

Navigate to the Projects page on the left-side menu and click on the project's name to open its profile.

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2. Access the Program Codes Tab

From the project profile, select the 'Program Codes' tab.

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3. Manage Program Codes

Click 'Manage Program Codes.'

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4. Select Applicable Program Codes

From the list of program codes, check the boxes for the codes that apply to the project.

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5. Save the Changes

Click 'Save' to enable the selected program codes for the project.

Success! Now project teams can tag transactions with program codes to track restricted funds.

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Contact Our Team

Please contact our team if you have any questions: [e-mail].