Chart of accounts

The chart of accounts is the backbone of your reporting. Every transaction is posted to an account, and the Profit & Loss and Balance Sheet group those accounts automatically.

What an account is

An account has:

• Code — a short identifier you use to find it (for example 1100 for Bank, 2100 for Trade creditors, 4000 for Sales).
• Name — a human-readable label.
• Type — this is what matters for reports:
• Asset — what the practice or client owns (bank, debtors, equipment).
• Liability — what is owed (creditors, loans, VAT).
• Equity — capital and retained profits.
• Income — money earned (sales, fees).
• Expense — costs (rent, wages, software).

Adding an account

1. Go to Accounting → Chart of accounts.
2. Click Add account.
3. Enter a code and name.
4. Choose the type from the list.
5. Save — the account appears under its type group.

Tips

• Keep codes consistent (for example, 1xxx assets, 2xxx liabilities, 3xxx equity, 4xxx income, 5xxx–7xxx expenses).
• You can add accounts at any time; existing reports will pick them up automatically.
• Use meaningful names your team recognises — the report labels come from here.

Related

• [Accounting overview](/guides/accounting-overview)
• [Running payroll](/guides/running-payroll)