Chart of Accounts

Chart of Accounts

The chart of accounts is the foundation of your accounting system, organizing all financial transactions into logical categories.

Account Types

• Assets - What the company owns
• Liabilities - What the company owes
• Equity - Owner's investment and retained earnings
• Revenue - Income from operations
• Expenses - Costs of operations

Setting Up Accounts

1. Navigate to Master Data > G/L Accounts
2. For a selected account Click Actions > New Account
3. Enter account number, name and default curreny

Best Practices

• Keep accounts specific but not too granular
• Review and clean up unused accounts
• Document account purposes