Your Chart of Accounts sits at the heart of your accounting system, providing a list of codes against which you and your accountant can code your financial transactions.
That may sound dull, but in fact it’s a hugely powerful tool for understanding your finances – and giving you the most detailed view of your income and spending. And in Xero you can customise your Chart of Accounts to add even more value.
The power of customising your Xero codes
Xero lets you create and name codes for every area of your business. So you have the power to produce a totally bespoke accounting system that’s unique to your business.
With a customised Chart of Accounts you can:
- Match all transaction to the relevant code, whether that’s sales, expenses, owner drawings or travel expenses
- Customise your Xero Chart of Accounts, and create codes for separate revenue streams, cost centres or overheads
- Produce detailed financial reports, allowing you to get granular with the numbers and improve your understanding of the business.
Talk to us about customising your Xero coding
If you want to get the most drilled-down, searchable view of your financials, we will help you tailor your Xero codes to deliver the important numbers and KPIs.