Double-Entry Accounting 5 min read
How to Set Up & Customize the Chart of Accounts
Understand the 5 fundamental account classes (Assets, Liabilities, Equity, Revenue, Expenses) and how to configure custom general ledger codes.
Before You Start (Prerequisites)
- Accountant or Owner role in the organization
Step-by-Step Instructions
1
Navigate to Chart of Accounts
In your dashboard sidebar, expand "Accounting" and click "Chart of Accounts".
2
Review Default Account Structure
Notice the standard 4-digit numbering scheme: 1000s for Assets, 2000s for Liabilities, 3000s for Equity, 4000s for Revenue, and 5000s for Expenses.
3
Add a Sub-Account
Click "+ Add Account". Select the Account Class (e.g. Current Asset), Code (e.g. 1020), and Name (e.g. Meezan Bank Corporate).
4
Set Currency & Description
Specify PKR as the currency and save. The account is instantly available across invoicing, bills, and journal entries.
Important Audit & Compliance Notes
- System-critical accounts (Accounts Receivable, Accounts Payable, Sales Tax Payable) have automated control links to prevent accidental manual misalignments.