Chart of Accounts
Your chart of accounts is the list of categories used to organize every transaction. AllMy Ledger comes with a sensible default — you can use it as-is or customize it.
Default Accounts
The default chart is designed for freelancers and small businesses. It includes the standard account types:
- Assets — Checking, Savings, Accounts Receivable, Undeposited Funds
- Liabilities — Accounts Payable, Credit Card, Sales Tax Payable
- Equity — Owner's Equity, Retained Earnings
- Income — Sales, Services, Interest Income
- Expenses — Rent, Utilities, Office Supplies, Professional Fees, and more
Adding an Account
- Go to Chart of Accounts
- Click New Account
- Choose the account type (Asset, Liability, Equity, Income, or Expense)
- Enter a name and optional description
- Click Save
Editing and Organizing
You can rename accounts, change their type, or deactivate accounts you don't use. Deactivated accounts are hidden from dropdowns but their historical transactions remain.
Tip: Don't over-complicate your chart of accounts. Most small businesses need 20-30 accounts. You can always add more later.