Chart of Accounts - adding & removing

[glasgow]

I think I understand but with anything new, ofter best to check…

I see how to hide away - because you can’t delete - unused entries in the Chart of Accounts. I’m planning on doing this in order to have Account names which better suit me. For example I’m used to using a 'Vehicle Fuel" Account so I’m going to hide away “Fuel and Oil (MOTOR)” and create my own entry. That’s turned up at 7351, but the numbers don’t matter as long as I’m in the right area?

Seems an acceptable way to proceed?

While we’re here, what’s the best Account to use for my vehicle lease? “Car and Van Hire” is the closest, but again I think I’d want to change that.

Lastly, for the minute, where should I enter software which is on subscription. Things like Microsoft 356 or other monthly application subs (Adobe for example)?

Thanks!

[Paul_Courtier]

Can I ask. Are you a sole trader or Ltd company?

If you are Ltd it’s always best to use the correct accounting standard nominals. If you wish to use your own that fine, but you will need to journal everything to the correct nominal at year end before closing off the year.

[glasgow]

I’m a sole trader but, if it matters, VAT registered.

[Paul_Courtier]

No that’s fine. You can do as you please in that case.