Chart of Accounts
Archive Accounts
How to archive accounts? To archive accounts, click on the green filing cabinet that appears to the far right of the account under "Chart of Accounts"; This will archive the account from the date that had the last actual or budget value. Therefore it ...
Capacity Link
Purpose To explain how to link projected employee capacity with projected income in Magnifi. This ensures your Capacity Drivers feed into the correct income accounts in the Profit & Loss Projection. When to Use When you want to automatically connect ...
Terms
What are Terms? Under Chart of Accounts, there is an option to enter the Terms against the Profit and Loss accounts. The option to enter Terms will only appear if the Profit and Loss account has been linked to a Balance Sheet account that has an ...
Linking the Profit and Loss to the Balance Sheet
Purpose To explain how to link Profit & Loss accounts to Balance Sheet accounts in Magnifi so projections balance correctly and cashflow movements are recorded in the right place. When to Use When setting up your Chart of Accounts for the first time. ...
Calculations
Purpose To explain how to use calculations in Magnifi to automatically derive account balances as percentages of other accounts. This feature simplifies projecting costs or revenue that move in line with other accounts. When to Use When you want to ...
Account Types
Purpose To explain how Account Types are used in Magnifi, including special account designations such as Capacity Building, Inter-Entity, Inter-Group, Retained Earnings, GST, PAYGW, Income Tax Expense, and Dividends. Correctly specifying Account ...
Account Categories
Purpose To explain how Profit & Loss and Balance Sheet account categories work in Magnifi, and how to add, amend, or delete categories so reports display correctly. When to Use When setting up your Chart of Accounts for the first time. When you need ...
Import Accounts - Xero or CSV
Purpose Bring your account list into Magnifi from Xero or a CSV file, then complete mappings—types, categories, divisions so projections and reports stay accurate. When to Use You’re setting up a new organisation or refreshing the Chart of Accounts. ...
Add, Edit and Delete Accounts
Purpose To show you how to add, edit, and delete accounts in Magnifi, ensuring your Chart of Accounts stays accurate and aligned with your reporting needs. When to Use When setting up your Chart of Accounts for the first time. When adding new ...
Overview - Chart of Accounts
Purpose Provide a clear, tab-based guide to configuring the Chart of Accounts in Magnifi. Core accounts live under Profit & Loss and Balance Sheet. The Payroll Link, Calculations, and Capacity Link tabs provide additional configuration that ...
Payroll Linking Accounts
Purpose To explain how to link Magnifi’s payroll projection accounts (from labour drivers) to your internal payroll accounts (e.g., in Xero). This ensures projected labour costs can be compared accurately to your actual payroll costs for reporting. ...