Chart of Accounts Overview
The Chart of Accounts (COA) is the foundation of your accounting system. It’s a complete list of all accounts used to record transactions in your organization.
What is a Chart of Accounts?
Section titled “What is a Chart of Accounts?”A Chart of Accounts organizes your financial data into categories:
| Account Type | GL Code Range | Purpose | Normal Balance |
|---|---|---|---|
| Assets | 1000-1999 | What you own | Debit |
| Liabilities | 2000-2999 | What you owe | Credit |
| Equity | 3000-3999 | Owner’s stake | Credit |
| Revenue | 4000-4999 | Income earned | Credit |
| Expenses | 5000-9999 | Costs incurred | Debit |
Viewing Your Chart of Accounts
Section titled “Viewing Your Chart of Accounts”Navigate to Settings → Organization → Chart of Accounts to see all accounts in your organization.
The list shows:
- GL Code - The account’s unique identifier
- Account Name - Descriptive name
- Type - Asset, Liability, Equity, Revenue, or Expense
- Balance - Current account balance
Account Structure
Section titled “Account Structure”Each account has:
| Field | Description |
|---|---|
| GL Code | Unique numeric code (e.g., 1000) |
| Name | Human-readable name (e.g., “Cash in Bank”) |
| Type | Determines how the account behaves |
| Description | Optional notes about the account |
| Is Active | Whether the account can be used in entries |
Next Steps
Section titled “Next Steps”- Default Chart of Accounts - Understand the starter accounts
- Adding Custom Accounts - Create accounts for your business
- GL Code Numbering - Learn the numbering system