Set up your chart of accounts

The chart of accounts is the list of accounts your books post to, grouped into assets, liabilities, equity, revenue and expenses.

Turning on Accounting seeds a starter chart. Add the bank accounts, cards and expense accounts your business uses on top of it.

Before you start

• Turn on Accounting

Steps

1. Open the chart of accounts and review the starter accounts.

   Open in the app

2. Add an account, choosing the subtype that describes it.

   Open in the app

3. For a bank account or credit card, add the institution and the last four digits.

Check it worked

The new account appears in the chart of accounts under its type, and opening its row shows its details. Its balance reads zero until journal entries post to it.