Chart of Accounts is the complete ledger hierarchy for your company. Create and organize accounts under parent groups for accurate financial reporting.
On this page
Chart of Accounts is a tree of Parent account groups and leaf ledger accounts. Groups (for example Assets, Liabilities, Income, Expenses) organize reporting; only leaf accounts receive journal postings from transactions, vouchers, and manual journals.
When you create a ledger account, choose the correct parent group so it rolls up into the right section on financial statements. Account Code and Name appear on reports and drill-down screens. Optional Opening Balance on create sets the starting balance for that ledger as of As on date.
Specialized masters — Expense Account, Cash/Bank Accounts, Prepaid Accounts, Taxes, and Fixed Asset Accounts — create or link accounts under this hierarchy with preset account types.
Connected reports: Trial Balance, Balance Sheet, Income Statement, Account Transactions, Journal Report.
Can I post to a group account?
No. Only leaf accounts accept journal lines. Approve fails if you select a parent/group account.
Why can I not delete an account?
Accounts with balance or system/base accounts cannot be deleted. Suspend instead when allowed.
Can parent and child be different account types?
No. Child accounts must share the parent's account type.
Where do opening balances for GL accounts go?
Opening Balances — one approved opening per account.
How does COA affect reports?
Trial Balance, Balance Sheet, and Income Statement read from this hierarchy.