Default chart of accounts

Every new business gets this chart. System accounts are posted to by the app and cannot be archived; you can add your own accounts and sub-accounts at any time — see Chart of accounts.

Assets (1xxx)

Code	Name	Used by
1100	Accounts Receivable	Invoices, payments, credit notes, write-offs
1200	Cash	Cash payments, expenses, contra
1210	Bank	Bank payments, expenses, contra, reconciliation
1300	VAT Receivable	Input tax on purchases
1500	Fixed Assets	Purchases routed to assets; investing cash flow

Liabilities (2xxx)

Code	Name	Used by
2000	Accounts Payable	Purchases, supplier payments, debit notes
2100	VAT Payable	Output tax on sales
2110	RCM VAT Payable	Self-assessed reverse-charge tax
2400	Tips Payable	POS syncs (tips collected for staff)
2500	Customer Store Credit	POS store credit and gift balances

Equity (3xxx)

Code	Name	Used by
3000	Owner’s Capital	Manual entries (capital introduced)
3050	Opening Balance Equity	Opening balances
3100	Retained Earnings	Prior-year profit (imports, manual entries)
3200	Retained Earnings (Closing)	Year-end closing

Revenue (4xxx)

Code	Name	Used by
4000	Sales Revenue	Invoices (default sales account)
4100	Service Revenue	Items with this sales account
4200	Discount Given	Invoice discounts
4300	Discount Received	Purchase discounts
4999	Rounding Difference	Rounding on imports and syncs

Expenses (5xxx)

Code	Name	Used by
5000	Cost of Goods Sold	Purchases (default)
5100	Salaries & Wages	Expenses
5200	Rent & Utilities	Expenses
5300	Marketing & Advertising	Expenses
5400	Office Supplies	Expenses
5500	Professional Services	Expenses
5600	Travel & Transportation	Expenses
5700	Insurance	Expenses
5800	Depreciation	Manual entries
5900	Other Expenses	Expenses
5950	Bad Debt Expense	Write-offs