Chart of Accounts

Define the ledger accounts that every transaction posts to—the backbone of your financials.

Overview

• Master list of every account used to classify transactions.

• Drives posting logic, financial statements, and management reporting.

• Supports account hierarchy, status (active/inactive), and tags.

Where to Access

• Accounting → Chart of Accounts

Key Attributes

• Account Name / Number : Identifier and ordering.

• Account Type : One setting per account, chosen from a fixed list — Bank, Accounts Receivable, Other Current Asset, Fixed Asset, Other Asset, Accounts Payable, Credit Card, Other Current Liability, Long-Term Liability, Equity, Income, Other Income, Expense, Other Expense, Cost of Goods Sold.

• Currency : Account-level currency, set when the account is created (if applicable).

• Parent Account : Optional hierarchy.

• Active : Availability toggle (cannot deactivate if in use for required postings).

Key Functions

• Add an account : Click Add New , choose Account Type , name/number, parent (optional) → Save.

• Edit attributes : Update name, parent, or active status (respecting system constraints).

• Run Report : View activity balances or summaries for the account or group.

• View Register (supported types): Drill into chronological transactions for Bank, A/R, Other Current Assets, Fixed Assets, Other Assets, A/P, Credit Card, Other Current Liabilities, Long-Term Liabilities, Equity.

Related Features

• Journals, Expenses, Payments/Bill Payments

• Bank Deposit, Transfer Funds

• Financial Reports (Balance Sheet, P&L)

• View Register / Run Report