Chart of Accounts and General Ledger Setup
Set up account codes for assets, liabilities, equity, revenue and expenses, then use those codes in Accounts journals and reports.
Open chart of accountsStart with the reports you need
Give recurring activities meaningful accounts. A small retailer may want inventory, trade receivables, sales, stock costs and merchant fees to appear separately.
Keep existing records traceable
Review where an account is used before changing the structure. The workspace protects accounts referenced by ledger entries and supports archiving eligible accounts.
After setup
Post or review a sample journal, confirm it lands in the intended account and check the effect in the trial balance.