How to import a Chart of Accounts from one company into a new company

Here are the steps to import your Chart of Accounts into a new company in Sage Accounting.

You can download the CSV template necessary to import your Chart of Accounts. Your CSV file must conform to this format for the import to succeed. 

The template contains the following columns: 
 

Column Header	Purpose
Nominal Code	This indicates the number you wish to assign to the account
GIFI Code	This indicates the GIFI code associated with the account
Ledger Name	This represents the account name (ex, Product Sales, Advertising, etc.)
Control Account	This indicates which accounts to designate as control accounts or default accounts. These accounts post to automatically without selecting. (ex, tax accounts, accounts receivable, etc.) Not all accounts in the file will have an entry in the Control Account column
Category	This indicates the account type or category to assign to the specific account (ex, Revenue, Expenses, etc.)
Part Recoverable Expenses	For Expense Accounts Only: This indicates the percentage of taxes paid on these types of expenses which you can claim as tax credits. If you leave this field blank, it will default to 100% reclaimable. Our template automatically designates that taxes paid on meal expenses are reclaimable at 50%.
Non Recoverable Ledger Account	Only for accounts where you indicate that a portion of the tax paid on those purchases isn’t reclaimable. Select a ledger account to post the non-reclaimable portion of the tax paid. This account defaults to 9200.

First, you'll need to access your Sage Accounting software, and download the template:

1. Log in to Sage Accounting.
2. Go to Settings.
3. In the Financial Settings section, select Chart of Accounts.
4. Hover over the drop-down next to New Ledger Account and select Import Accounts.
   

   

5. Once the Import Chart of Accounts window is open, click "templates" to download our CSV import template.
   You can also find a copy of the import template here.
   

   

6. Once downloaded, you'll need to edit that template and fill in your chart of accounts information.

CAUTION: Don’t modify the header on the template, as it will cause the import to fail. Also, make sure to keep the file format as CSV. 

 

The following control account types exist in the import template.

NOTE: If you don’t assign an account associated with each of these control account types, the system will create an account for that purpose. 
 

Control Account Types	Purpose
BANK_CASH	Default Cash on Hand Account
BANK_CURRENT	Default Chequing/Current Account
TRADE_DEBTORS	Accounts Receivable
STOCK_RAW	Default Account for Purchase of Stock Items
TRADE_CREDITORS	Accounts Payable
TAX_LIABILITY	Default Account for your Federal Income Tax Payable
TAX_ON_SALES_GST	Account for GST/HST Collected/Collectible on Sales
TAX_ON_PURCHASES_GST	Account for Input Tax Credits for GST/HST Paid on Purchases
TAX_LIABILITY_GST_HST	Account for GST/HST Payable, Calculated by the Tax Return Feature at the End of a Tax Period
TAX_ON_SALES_BC	Account for PST Collected/Collectible on Sales in British Columbia
TAX_ON_SALES_SK	Account for PST Collected/Collectible on Sales in Saskatchewan
TAX_ON_SALES_MB	Account for PST Collected/Collectible on Sales in Manitoba
TAX_ON_SALES_QST	Account for QST Collected/Collectible on Sales
TAX_ON_PURCHASES_QST	Account for Input Tax Refunds for QST Paid on Purchases
TAX_LIABILITY_QST	Account for QST, Calculated by the Tax Return Feature at the End of a Tax Period
OWN_INVEST	Owner's Contribution
DRAWINGS_EQUITY	Owner's Withdrawal
PROFIT_AND_LOSS	Retained Earnings
SALES_PRODUCTS	Default Sales Account Selected when Invoicing/Default Sales Account Selected when Creating New Products/Services
SALES_DISCOUNTS	Account for Tracking Discounts Applied on Sales Invoices/Customer Receipts
PST_COMMISSION	Account for tracking PST Commission
INTEREST_INCOME	Account for Interest Earnings on Bank Accounts (ex, Interest Received from a Savings Account)
OTHER_INCOME	Default Account for Other Receipt Transactions and For Shipping Charges Invoiced to a Customer
COS_GOODS	Default Expense Account for Vendor Bills/Default Expense Account when Creating New Products/Services
PURCHASE_DISCOUNTS	Account for Tracking Discounts Applied on Vendor Bills/Vendor Payments
BANK_CHARGES_AND_INTEREST	Account for Posting Bank Fees Entering During Bank Reconciliation
OPENING_BALANCES	Offset Account Used Automatically When Posting Opening Balances
SUSPENSE_CORRECTIONS	Suspense or Corrections Account used When Making Manual Adjustments to the Tax Return

 

CAUTION: You can’t use the same nominal code from one of the Sage Accounting Control accounts 

EXAMPLE: If "Accounts Receivables" is already associated with Account number 1100, you can’t use that same number for a different account in your chart 

The following Category types are available. Each account must have an assigned category. 

Category

BANK

LINE_OF_CREDIT

CURRENT_ASSETS

FIXED_ASSETS

FUTURE_ASSETS

CURRENT_LIABILITY

FUTURE_LIABILITY

EQUITY

SALES

OTHER_INCOME

DIRECT_EXPENSES

OVERHEADS

Additional Information:

1. To create a credit card payable account on import, you need to code the Category as LINE_OF_CREDIT. 
2. If you don’t keep 9200 on your import file, choose another account that does exist within your Chart of Accounts.
   • For example, use the Non Recoverable Ledger Account for your meals account