Understanding the chart of accounts

The chart of accounts is the backbone of your bookkeeping. It is a structured list of all the accounts your organization uses to classify financial transactions — every euro that flows in or out is assigned to one of these accounts.

The accounts page

Navigate to Accounting > Chart of Accounts to see your complete account hierarchy. Each account shows:

• Account name — A descriptive label (e.g., "Bank fees", "Office rent", "Sales revenue").
• Account code — A numeric code used for sorting and identification (e.g., 612000, 700000).
• Account type — The category this account belongs to.
• Balances — Current balances shown separately per currency.
• Transaction count — How many transactions are assigned to this account.

Account types

Every account falls into one of five types:

Type	What it represents	Examples
Asset	What your business owns	Bank accounts, accounts receivable, equipment
Liability	What your business owes	Loans, accounts payable, VAT payable
Equity	Owner's stake in the business	Share capital, retained earnings
Income	Money earned	Sales revenue, interest income, service fees
Expense	Money spent	Rent, salaries, office supplies, travel

Assets and liabilities appear on the balance sheet. Income and expenses appear on the income statement.

Account hierarchy

Accounts are organized hierarchically. Parent accounts group related sub-accounts together. For example:

6 Expenses
├── 61 Services and sundry goods
│   ├── 6100 Rent
│   ├── 6120 Energy costs
│   └── 6140 Office supplies
├── 62 Remuneration
│   ├── 6200 Salaries
│   └── 6210 Social contributions

This hierarchy makes reports easier to read and helps you drill down from summary totals to individual account details.

Account details

Click any account to view:

• Account information — Name, code, type, and any translations.
• Transaction history — All transactions assigned to this account, with pagination and search.
• Balance by currency — Current balances broken down by currency.
• Audit log — Changes made to the account configuration.

Multi-currency balances

If transactions in different currencies are assigned to the same account, balances are shown separately per currency. Financica does not automatically convert between currencies — you see exact amounts in their original currencies.

Customizing your chart of accounts

Your chart of accounts can be customized to match your business needs and local requirements. If you are working with a Belgian accountant, you will likely use the PCMN (Plan Comptable Minimum Normalisé) structure. Other countries have their own standard charts.

Work with your accountant to set up the right account structure for your business. Once configured, you can assign transactions to any account in the chart.