To add a new account in the Chart of Accounts, such as an Income or Expense account, follow these steps:
1. Go to Setup --> GL/ Budget/ Payables.
2. Select the submenu Chart of Accounts.
3. Click +Add New Account.
4. Select an Account Type (there is a dropdown to select if it is an Income or Expense, or another type of account).
5. Enter the Account Description and Tax Deductibility (for Income accounts).
6. Enter the Account Number and Associated Bank Account.
7. Select if the account is associated to a Fund and / or Budget .
8. If the account is an Income account, select the switch Allow Donation and Include on Donors Report.
9. If the account is an Expense account, you can assign it to being a Payroll account.
10. Then click +Add to save.
