Chart of Accounts
The Chart of Accounts in Zoho Books consists of a wide range of accounts that are generally used with any type of business. The accounts are classified into different types such as Income, Expense, Equity, Liability & Assets. If you are not sure about customizing accounts for your business or on different business scenarios, please take the help of your accountant or bookkeeper.
- Other Income
- Cost of Goods Sold
- Other Expense
- Other Current Liability
- Credit Card
- Long Term Liability
- Other Liability
- Other Asset
- Other Current Asset
- Fixed Asset
Any extra account that you add from the other modules, i.e, adding an account in the banking module, adding an inventory account, creating a new purchase account in the inventory module, will be reflected in the chart of accounts.
Creating a New Account
To create a new account in the chart of accounts, navigate to Accountant > Chart of Accounts and select +New Account.
|Account Name||Enter the name of the account you would like to create for your organisation.|
|Account Type||Select the type of account under which you would like to classify your new account.
If you selected an account under the Income, Expense or a Fixed Asset and a Stock account, you will be asked to choose if the transaction will be included for VAT returns.
|Description||Enter a description about the account for handling any future references.|
Check on the Add to the watchlist on my dashboard box to have the account and its related transactions in your dashboard for quick reference. All the new accounts that are created here will be reflected in the respective modules.