Chart of Accounts
Overview
The Chart of Accounts is the foundation of your accounting system. It is a structured list of all financial accounts used to categorise every transaction in your business. ABBPay supports both standard accounting terminology and a "Plain English" view for non-accountants.
Viewing the Chart of Accounts
View Modes
ABBPay offers two viewing modes:
| Mode | Description |
|---|---|
| Accounting | Standard accounting terminology (e.g., "Accounts Receivable") |
| Plain English | Simplified names (e.g., "Money Customers Owe Us") |
Toggle between modes using the View Mode switch at the top of the page.
Account Structure
Accounts are organised in an accordion layout, grouped by account type:
| Account Type | Colour | Description |
|---|---|---|
| Assets | Green | What your business owns |
| Liabilities | Blue | What your business owes |
| Equity | Amber | Owner's investment and retained earnings |
| Income | Purple | Revenue earned |
| Expenses | Rose | Money spent on operations |
| Cost of Goods Sold | - | Direct costs of products/services sold |
Table Columns
| Column | Description |
|---|---|
| Code | Account code (e.g., 1000, 5001) |
| Name | Account name (with Plain English subtitle if enabled) |
| Type | Sub-type classification |
| Parent Account | Parent account (if sub-account) |
| Balance | Current balance (green for positive, red for negative) |
| Status | Enabled (with pulse animation) or Disabled |
| Actions | Transaction Summary, Edit, Delete |
Click on an account type header to expand or collapse its accounts.
Add Account
- Click the Add Account button from the actions dropdown.
- Complete the account form.
Form Fields
| Field | Required | Description |
|---|---|---|
| Account Name | Yes | Standard accounting name (e.g., "Accounts Receivable") |
| Simple Name | No | Plain English alternative (e.g., "Money Customers Owe Us") |
| Account Code | Yes | Unique numeric code (e.g., "5001") |
| Account Type | Yes | Select from grouped options (shows code range in description) |
| Sub-account | No | Checkbox to make this a sub-account of another account |
| Parent Account | Conditional | Required when sub-account is checked (searchable dropdown) |
| Status | Yes | Toggle to enable or disable the account |
| Description | No | Additional notes about the account |
- Click Save to create the account.
Validation: Account Name and Account Code must be unique within your company.
Edit Account
- Click the Edit button (pencil icon) on the account row.
- Modify fields as needed.
- Click Update to save.
Note: Default system accounts cannot be edited.
Delete Account
- Click the Delete button (trash icon) on the account row.
- Confirm the deletion.
Note: Default system accounts and accounts with transactions cannot be deleted.
Import Accounts
Importing from Excel
- Click Import from Excel from the actions dropdown.
- Upload your Excel file (.xlsx).
- ABBPay will process the import and display a summary:
- Accounts created (new records)
- Accounts updated (existing records modified)
- Accounts skipped (duplicates or errors)
Export Accounts
Click Export to Excel from the actions dropdown to download the complete Chart of Accounts as an Excel file.
View Transaction Summary
Click the Transaction Summary button (chart icon) on an account row to view all transactions posted to that account in the Ledger Summary.
Best Practices
- Use consistent, logical account codes (e.g., 1000-1999 for Assets, 2000-2999 for Liabilities).
- Enable Plain English mode for team members who are not accountants.
- Use sub-accounts to create detailed breakdowns within major categories.
- Regularly review and disable unused accounts rather than deleting them.