Creating a Chart of Accounts

Chart of Accounts Templates

If you do not want to start your Chart of Accounts from scratch, we do offer templates to help you get started. The template can be modified so it is only a starting point. You can customize the names on the accounts to match your organization’s terminology.

To create your Chart of Accounts:

  • Go to Accounting / Accounts.
  • Start with a template or create the Chart of Accounts by selecting “Add Account”.

Adding & Editing the Chart of Accounts

  • To edit an account, go to the Accounts tab and click on the Account Number.
  • To create a new account click on the “Add Account” button.

Account Type: Must be one of the following:

  • Asset
  • Liability
  • Income
  • Expense

Account Number:

  • Related to the account type
  • Cannot be duplicated

Account Name: Shows up in the reports.

Account Description: Extra information to describe what this account is used for.

Parent Account: This is optional and allows you to roll up several accounts into one category for reporting purposes.

Form 990-EZ box: This is optional and allows you to assign this account to a box on the IRS form 990-EZ for reporting later.