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Chart of Accounts

The chart of accounts defines every account used in your general ledger and financial reports.

Account Groups

Basis organises accounts into five main groups:

Group	Normal Balance	Used for
Assets	Debit	Cash, bank, receivables, inventory, fixed assets
Liabilities	Credit	Payables, loans, tax payable
Equity	Credit	Owner's equity, retained earnings
Revenue	Credit	Sales, service income, other income
Expenses	Debit	COGS, operating costs, depreciation

Each account has a subtype that determines how it appears in financial reports. Common subtypes include:

Assets: Cash, Bank, Accounts Receivable, Inventory, Prepaid Expense, Fixed Asset, Intangible Asset, Other Asset
Liabilities: Accounts Payable, VAT Payable, VAT Receivable, WHT Payable, GRNI, Other Liability
Equity: Equity, Retained Earnings
Revenue / Expenses: Revenue, COGS, Operating Expense, Other Income, Other Expense

Go to Chart of Accounts from the Administration hub. The list shows Code, Name, Type, and Subtype.

Click New Account and fill in:

Field	Description
Account Code	Numeric or alphanumeric identifier
Account Name	Descriptive name
Account Type	Assets, Liabilities, Equity, Revenue, or Expenses
Account Subtype	Determines report section placement
Description	Optional notes

Click Save to create the account.

Accounts used as AR or AP control accounts are linked to party sub-ledgers — all entries go through invoices and payments, not direct journal entries.
Accounts can be deactivated if no longer needed but cannot be deleted if they have transaction history.