Chart of Accounts introduction
The Chart of Accounts is a list of all the categories used by your business.Categoriesgroup transactions so you can see how your business is performing.
What is a category?
Each category has a unique code to identify the account, though you can change them to use your own numbering scheme if required.
When you enter a transaction in Accounting Start, you assign the relevant code depending on what you’re recording. For example, a sales invoice or a bank payment.
The Chart of Accounts defines the group of each category and determines where it appears on management reports. You can use these reports to analyse your income, expenditure, assets, liabilities and capital and means you can see how your business is performing.
About the Chart of Accounts
Accounting Start uses a standard chart of accounts, including control categories. Control categories are special categories used by Accounting Start when recording transactions to ensure that items such as your VAT are recorded correctly.
While the Chart of Accounts is suitable for most small businesses, you can customise it as needed for your business. Except for control categories, which need to stay as they're initially set up, you can edit all categories.
View the Chart of Accounts
Go toMore,Settings then Chart of Accounts.
How to amend the Chart of Accounts