How to setup your Chart of Account

About the chart of accounts

The chart of accounts is a list of all of the accounts used by your business. These accounts are known as ledger accounts.

You can use the chart of accounts to analyze your income, expenditure, assets, liabilities, and capital when running reports. This helps you to see how your business is performing at any moment in time.

Each account has a unique number. (The category you select when creating the account determines where it appears on your reports, so the number can be whatever you choose.)

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