Use and extend the chart of accounts
See every account and its balance, add your own accounts, and open an account's ledger.
The chart of accounts is the list of accounts your books use, grouped into assets, liabilities, equity, income and expenses. It comes ready to use; add accounts when you want more detail.
Steps
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Open Finance & Accounting, then Chart of accounts. Each group shows its total, and each account its balance.
Open "Chart of accounts" -
Know the accounts the app uses. Accounts marked used by the app are where invoices, bills, stock, payroll and tax are posted. Keep them.
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Add an account. Under Add an account, type a Code (for example
6700), a Name and pick its Type.Add an account -
Click Add account. It appears in its group, ready for expenses and journal entries.
Click "Add account" -
Open a ledger. Click any account to see every entry on it, with a running balance.
Open an account's ledger
Good to know
- Codes decide the order. A common pattern: 1000s assets, 2000s liabilities, 3000s equity, 4000s income, 5000s–6000s expenses.
- An expense account you add shows in Record expense under What for.