Chart of accounts

The Chart of Accounts is the backbone of your books: the complete list of accounts that every transaction is sorted into. Every invoice line, bill line, payment, and journal entry debits and credits accounts from this list. Get it roughly right at the start and you’ll rarely need to touch it again.

Go to Accounting → Chart of Accounts.

Account types

Accounts are grouped into five reporting sections, each containing one or more types. The type decides where the account appears on your financial statements.

Section	Types
Assets	Bank, Current Asset, Inventory, Prepayment, Fixed Asset, Intangible Asset, Non-current Asset
Liabilities	Current Liability, Liability, Non-current Liability, Long-term Liability
Equity	Equity
Revenue	Revenue, Sales, Other Income
Expenses	Expense, Direct Costs, Overhead, Depreciation

Your reports (Balance Sheet, P&L, Cash Flow) are built directly from these classifications — an account’s type determines which section and subtotal it rolls into.

The default chart

Every new organization starts with a sensible default chart. A few of the seeded accounts:

• 200 Sales Revenue, 210 Service Revenue
• 310 Cost of Goods Sold, 400 Advertising, 469 Rent
• 090 Bank Account, 610 Accounts Receivable, 630 Inventory
• 710 Office Equipment, 720 Computer Equipment, 730 Motor Vehicles
• 800 Accounts Payable, 820 Tax Payable, 905 Owner’s Equity, 960 Retained Earnings

You can rename, add to, or renumber any of these. Bank accounts are created separately under Bank Accounts (they’re still just accounts of type Bank, with extra bank fields).

Add or edit an account

Accounting → Chart of Accounts → Add Account.

Field	Notes
Account Code	Up to 20 chars; unique per org. Live-checked as you type. Numeric codes are conventional but not required.
Account Type	The 5-section dropdown above. (Bank accounts are added elsewhere.)
Account Name	Required, up to 200 chars.
Currency	Only for balance-sheet types. Immutable after creation — see Multi-currency.
Monetary account	For foreign-currency, ambiguous types only (see below).
Default Tax Rate	Auto-applied when this account is picked on a document line. Pre-seeded by type (sales types → sales tax, expense types → purchase tax).
Enable payments to this account	Adds the account to payment-from dropdowns. On by default for banks.

Editing is the same form plus an Active toggle and a Delete Account button. Deleting is blocked once an account has transactions — deactivate it instead (it stops appearing in dropdowns but keeps its history).

System accounts (managed automatically)

Some accounts are flagged System — they’re created and maintained by AccountFUN’s automated flows. System accounts are resolved by role, not by code, so you can safely renumber them without breaking anything. Their type is locked and they can’t be deactivated or deleted; the name on the core control accounts can’t be changed either.

Role	Default code	Manual journal?	What it does
Accounts Receivable	610	Locked	Tracks what customers owe you
Accounts Payable	800	Locked	Tracks what you owe suppliers
Tax Payable	820	Allowed	Holds sales/input tax until you pay the tax authority
Inventory Asset	630	Locked	Holds tracked-stock value at weighted-average cost
Cost of Goods Sold	310	Locked	Relieved when tracked stock is sold
Realized FX	850	Allowed	Absorbs realized currency gains/losses on settlement
Unrealized FX	860	Locked	Unrealized FX gains/losses, calculated live on reports
Retained Earnings	960	Allowed	Dividends and direct retained-earnings adjustments
Accumulated Depreciation	711	Locked	Contra-asset for fixed-asset depreciation
Depreciation Expense	416	Locked	Depreciation charge P&L account
Accumulated Amortization	701	Locked	Contra-asset for intangible-asset amortization
Amortization Expense	417	Locked	Amortization charge P&L account
Custom Adjustments	840	Allowed	Housekeeping/balancing account for opening balances and rounding

Locked system accounts are driven entirely by automated flows (invoicing, bill approval, payments, reconciliation, depreciation/amortization runs, inventory movements, live FX on reports) and won’t appear in the manual-journal line picker. The four Allowed accounts are reserved for year-end and one-off corrections — see Manual journals for worked examples.

Codes and numbering

There’s no enforced number range — codes are free-form. The default chart follows a loose convention (000s bank, 200s revenue, 300s direct costs, 400s expenses, 600s assets, 800s liabilities, 900s equity) but you can use whatever scheme you like. You can Import CSV / Export CSV a whole chart under the toolbar buttons.

The “monetary” flag (multi-currency only)

When you set a balance-sheet account to a foreign currency, some types are ambiguous under accounting standard IAS 21 — is a Current Asset a receivable (revalued each period) or a prepayment (frozen at cost)? For those, AccountFUN asks whether the account is monetary (revalued at the closing rate each period) or non-monetary (kept at the historical rate). Bank, inventory, fixed-asset, and equity types have safe defaults and won’t prompt you. See the Multi-currency guide for the full explanation.

Locking

Two layers of locking protect your chart:

• Account active/inactive — deactivate to retire an account without losing history; the last active bank account can’t be deactivated.
• Organization Lock Date — set under Settings → Organization; it blocks any posting on or before that date across the whole org so closed periods can’t be disturbed.

When you’d customize the chart

• Add a dedicated account for a new expense category (e.g. Software Subscriptions under Expense).
• Add revenue sub-accounts to track product lines separately.
• Set up clearing or accrual accounts for prepayments and intercompany entries.
• Import your existing chart from another system via CSV.

Most small businesses never need more than the default chart plus a handful of extra accounts — and every one of them is editable later.