A chart of accounts ready from day one
Start the Accounting add-on with a standard chart of accounts created in one click, then shape it to your business. Add accounts with a type, sub-type, detail type and parent, see them as a table or a tree, and open any account to see its ledger.
Chart of accounts in SeroPOS
Default accounts in one click
Create default accounts builds a starting chart of accounts so you are not beginning from a blank page.
Types and sub-types
Each account has a type, a sub-type and a detail type, so it lands in the right place on the statements.
Parent accounts
Group accounts under a parent, such as several bank accounts under Cash and bank.
Table or tree view
See the chart as a table, or as a tree that shows how accounts nest.
Account ledger
Open any account to see its debit and credit history and running balance.
Activate or deactivate
Turn off accounts you no longer use without deleting their history.
What a chart of accounts is
A chart of accounts is the list of every account your business records money in: assets such as cash, bank and stock; liabilities such as loans and sales tax owed; equity; income; and expenses. Every transaction in double-entry books moves money between two or more of these accounts. Getting it right early saves rework later.
A well-organised chart makes your financial statements readable and makes your accountant's job quicker. It should be detailed enough to answer the questions you ask, such as how much you spend on packaging, but not so detailed that nobody knows where to post things. Your accountant can help you find the right balance before you start posting.
Getting started in one click
Open Accounting in the back office and go to Chart of Accounts. Use Create default accounts to build a standard starting set covering the usual assets, liabilities, equity, income and expense accounts. Review it with your accountant and rename, add or deactivate accounts to suit your business. It is quicker to trim a full list than to build one from nothing.
Starting from a default chart means the structure is sound from day one. You only add what is specific to you, such as separate income accounts for dine-in and catering, or an expense account for delivery-platform fees. Keep names short and clear so staff choose the right account every time they map a payment or post a journal.
Adding and organising accounts
To add an account, choose its type, sub-type and detail type, give it a name and, if it belongs under another, a parent account. Add opening details if the account already had a balance when you started. The type decides where the account appears on the balance sheet and in other reports.
Account sub-types and detail types can be added and edited under Settings, so you can fit the structure your accountant uses. Filter the chart by account type and by active status, and switch between the table and the tree view. Use the tree view to check that each account sits under the right parent before you start posting entries to it.
- Account type
- Sub-type
- Detail type
- Parent account
- Opening details
Account ledgers
Click any account to open its ledger: every debit and credit posted to it, in date order, with the running balance. It is the quickest way to answer questions such as which payments went into the card clearing account last week, or what made up a large expense. You can trace any figure on a report back to the entries behind it.
When an account is no longer needed, deactivate it rather than deleting it. Its history stays in the ledger and in past reports, but it no longer appears when you are choosing accounts for new entries or payment mappings. That keeps the chart tidy without rewriting history. Old reports stay accurate.
Frequently asked questions
Do I have to build a chart of accounts from scratch?
No. Use Create default accounts on the Chart of Accounts screen to set up a standard chart in one click. Then rename, add or deactivate accounts to fit your business, ideally with your accountant's input. It saves hours compared with typing every account yourself.
What is the difference between an account type and a detail type?
The type is the broad group, such as asset or expense, and decides where the account appears in reports. The sub-type and detail type narrow it down, such as a bank account or a cost of goods sold account. Choosing the right type matters most, because it decides where the account appears on your statements.
Can I group accounts together?
Yes. Give an account a parent account and it sits under that parent. The tree view shows the nesting, which helps when you have several bank accounts or expense accounts of one kind. Use parents to keep long lists readable.
Can I delete an account I no longer use?
Deactivate it instead. A deactivated account keeps its history in ledgers and past reports but does not appear when choosing accounts for new entries. Reactivate it at any time if you need it again. History is never lost. Nothing is deleted along the way.
Which plan includes the chart of accounts?
The chart of accounts is part of the Accounting add-on module, which adds double-entry books to the SeroPOS back office. Ask us about adding it to your plan. Your accountant can help you shape the chart once it is turned on, so it matches the way they prepare your year-end statements.