In this video, I will walk you through how to create and modify your Chart of Accounts. The Chart of Accounts is the foundation of your accounting system. It is a structured list of all accounts used by your organization to define how money is tracked, grouped, and reported. Because this is set at the organization level, it is shared across all your projects. Only Admins and Super Admins can modify it to prevent accidental changes that could affect reporting.

To create a new account, open the Chart of Accounts menu and click ‘Add’. Enter a unique Account Code, the Account Name, and a brief Description. Next, select the Account Type. This is critical because the account type—whether it’s Cash, Bank, Asset, or Expense—determines where it sits in your financial statements. Click ‘Save’ to confirm.

If you need to make changes, simply click the ‘Edit’ button on an account line. You can modify the code or name here. If an account is no longer in use, you can ‘Archive’ it to remove it from active lists. If you ever need it back, you can simply restore it from the archive.

Your Account Type directly drives your General Ledger and Trial Balance, so it is important to set this up correctly from the start.

Finally, instead of adding accounts one by one, you can use the Import feature. Click ‘Import’ and download our CSV template. Fill in your account details in the spreadsheet and upload it here to set up your entire Chart of Accounts at once.