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Accounting & Banking

Chart of Accounts

Starter and above (adding accounts needs Business and above) · 1 min read · Updated 16 October 2026

What this does

The Chart of Accounts is the list of accounts where NEXTOREx records money: cash, bank, what customers owe you, what you owe suppliers, sales, costs and more. NEXTOREx uses double-entry accounting, so every sale, purchase and payment is recorded in two accounts for you. A starting set of accounts is created with your business.

Steps

To look at your accounts:

  1. Open Finance, then Chart of Accounts.
  2. Read the list. Each account has a Code, Account name, Account type, Normal balance, and whether it can be posted to.
The Chart of Accounts
Your accounts, for example Cash in Hand, Accounts Receivable and Sales Revenue.

To add an account:

  1. Click New Account.
  2. Enter a Code and the Account name.
  3. Choose the Account category. Optionally choose a Parent account to place it under another account.
  4. Leave Active account switched on.
  5. Click Save Account.

What happens next

The new account appears in the list and can be chosen when you post vouchers and bank transactions.

Important notes

  • You do not need to make accounts for normal sales, purchases and stock. NEXTOREx posts those to the right accounts for you.
  • Ask your accountant before adding accounts.