📘Chart of Accounts

The Chart of Accounts is the foundation of the Accounting module's double-entry bookkeeping system. It defines every account used to classify financial transactions across your organization.

List View

The Chart of Accounts list displays all accounts in a table with the following columns:

Column	Description
Code	A unique alphanumeric code identifying the account (e.g., 1000, 2000).
Name	The descriptive name of the account (e.g., "Cash", "Accounts Receivable").
Account Type	The classification of the account — one of Assets, Liabilities, Equity, Income, or Expenses.
Parent	The parent account, if this account is nested within a hierarchy.
Balance	The current balance of the account.
Is Active	Whether the account is currently active and available for use in transactions.
Is System	Whether the account is a system-generated default that cannot be deleted.

Creating an Account

Click the Create Account button in the top-right corner to open the creation side panel. The form includes the following fields:

Field	Required	Description
Code	Yes	A unique account code (e.g., 1010).
Name	Yes	A descriptive name for the account.
Account Type	Yes	Select from Assets, Liabilities, Equity, Income, or Expenses.
Parent Account	No	Optionally nest this account under an existing parent account.
Description	No	A longer description of the account's purpose.
Opening Balance	No	The starting balance for the account.
Is Active	No	Toggle whether the account is active (defaults to active).
Currency	No	The currency for this account (defaults to USD).

Default Accounts

The system comes pre-configured with 30 default accounts covering all five account types:

• Assets — Cash, Accounts Receivable, Bank Account, Inventory, Prepaid Expenses, Fixed Assets, Accumulated Depreciation

• Liabilities — Accounts Payable, Credit Card Payable, Accrued Liabilities, Unearned Revenue, Notes Payable, Tax Payable

• Equity — Owner's Equity, Retained Earnings, Common Stock, Owner's Draw

• Income — Sales Revenue, Service Revenue, Interest Income, Other Income

• Expenses — Cost of Goods Sold, Salaries & Wages, Rent Expense, Utilities, Office Supplies, Insurance, Depreciation, Marketing, Professional Fees, Miscellaneous

These system accounts cannot be deleted but can be deactivated if not needed.

Tips

• Use a consistent coding scheme (e.g., 1000s for Assets, 2000s for Liabilities) to keep accounts organized.

• Deactivate accounts you no longer need rather than deleting them, to preserve historical records.

• Use parent accounts to create hierarchical groupings for cleaner reporting.