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Customise your accounts list

You can make the default accounts list supplied with your company file more accurately reflect your business.

What accounts do I need in my accounts list?

When you create your company file, AccountRight supplies you with a list of all the basic accounts you need to track your business's finances.

For more information about how accounts work, see Set up accounts.

To make this basic list fit your business, you need to add, remove or edit accounts to reflect the particular way cash moves in and out of your business.

When creating accounts, think about what your business buys and sells. For example, if you're a service-based business, you won't likely need any inventory accounts, but you will need to track your services income.

You might want to break down your income streams to track the profitability of particular services or product lines.

sales income accounts

You probably also want to break down your expenses to accurately monitor the particular costs impacting your business.

Expense accounts grouping

Many of the accounts you need will already be in your accounts list – you just need to tweak the list by creating additional accounts and editing or deleting existing ones.

You should also ensure that your accounts are well defined with specific, descriptive names and that they're grouped correctly to generate the most useful reporting – your accountant or bookkeeper can help you out with all of this.

Invite your accountant or bookkeeper into your file – then, they can customise your accounts list for you.

There are also experts on the community forum who can help you out.