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Chart of Accounts

This guide explains the Chart of Accounts in Fiskl — what it is, how it's structured, and how to manage it for your business.

What Is a Chart of Accounts?​

The Chart of Accounts (CoA) is the foundation of your accounting in Fiskl. It's the complete list of ledger accounts used to categorise every financial transaction in your business.

Fiskl provides a default set of commonly used accounts to get you started. You can customise this list by adding, editing, or archiving accounts to match your business structure.

To access your Chart of Accounts:

  1. Select Accounting in the left menu
  2. Select Chart of Accounts

You can view accounts filtered by type using the tabs at the top, or view the full list together.

Bank Feed and Reconciliation Badges​

Two badges on an account row tell you how it is used, which matters when two accounts share a name.

  • A bank badge means a connected bank account writes its transactions into this ledger account. Hover over it for the provider, the connection name and the last refresh. It is green when the feed refreshed within two days, amber when older, and grey when the feed is disabled.
  • A tick badge means the account has reconciled periods. Hover over it for the last reconciled period and how many periods need attention.

The same badges appear beside the balance in Accounting > Transactions. An account with the tick badge holds reconciliation history; an account with the bank badge receives the live feed. If those are two different accounts for the same bank, see Reconnecting a Bank and Fixing Duplicate Accounts.

Account Types​

Your Chart of Accounts is organised into five account types. Each type groups related ledger accounts and determines how transactions are reported.

Assets​

Assets are resources your business owns that have economic value. They appear on your Balance Sheet.

Examples include:

  • Cash and bank accounts
  • Accounts receivable (amounts owed to you by clients)
  • Inventory
  • Equipment and property

Assets are classified by liquidity — how quickly they can be converted to cash. Current assets (such as cash) are more liquid than non-current assets (such as equipment).

Liabilities​

Liabilities are financial obligations your business owes to others. They also appear on your Balance Sheet.

Examples include:

  • Bank loans and mortgages
  • Accounts payable (amounts you owe to vendors)
  • Sales taxes collected but not yet remitted

Liabilities are classified as current (due within a year) or non-current (long-term obligations).

Equity​

Equity represents the net worth of your business — the difference between your assets and liabilities. It appears on your Balance Sheet.

Equity increases through profitable operations or capital contributions. It decreases through losses, dividend payments, or share buybacks.

Income​

Income accounts track revenue earned through your business activities. They appear on your Profit and Loss report.

A credit increases an income account. A debit decreases it.

Expenses​

Expense accounts track the costs of running your business. They also appear on your Profit and Loss report.

A debit increases an expense account. A credit decreases it. Expenses are subtracted from income to calculate your net profit or loss.

Managing Your Chart of Accounts​

Adding a New Account​

  1. Select Accounting > Chart of Accounts
  2. Select Add account
  3. Select a Parent account if this is a sub-account
  4. Enter the Account name
  5. Add a Description to help identify the account's purpose
  6. Select a Currency for the account
  7. Select an Account type
  8. Select Create Account

Editing an Account​

  1. Select Accounting > Chart of Accounts
  2. Find the account you want to edit
  3. Select the edit icon
  4. Update the relevant fields
  5. Select Save Changes
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Editing an account name updates it everywhere in Fiskl, including existing transactions and reports.

Archiving an Account​

Archiving removes an account from active use. If nothing in Fiskl uses the account, archiving deletes it permanently. If anything still uses it, Fiskl archives it instead, so your records and reports stay intact.

  1. Select Accounting > Chart of Accounts
  2. Find the account you want to archive
  3. Select the archive icon
  4. Select Archive to confirm

Fiskl tells you which one happened. For example: "Monarch Bank was archived, not deleted, because it still has 5 transactions and 1 recurring entry."

Archived accounts no longer appear in dropdowns when categorising transactions. Their transactions still count in your reports. To view them, select the Archived tab.

Archiving an account that receives a bank feed also disables that bank account. This stops new transactions arriving in an account nobody opens.

Some accounts cannot be archived at all. If an account is the category of a product, or is used on invoice or quote lines, Fiskl refuses and tells you why. System accounts cannot be archived either.

What Keeps an Account Archived Instead of Deleted​

An account is deleted only when nothing else in Fiskl points to it. Any of the following keeps it archived:

  • Transactions, including journals posted by schedules
  • Expenses recorded against the account
  • Reconciliations, even if the account is now empty
  • Recurring entries, prepayments or deferred revenue schedules that use the account, whatever their status
  • Fixed assets that use the account
  • A linked bank account from a bank feed
  • Categorisation rules that place transactions in the account
  • Default category settings, such as the default expense or product category
  • Stripe charge or fee category settings
  • Inventory items that use the account
  • Bill lines or purchase order lines categorised to the account

Two kinds of account are never deleted, even when empty. Tax registration accounts stay archived to keep your tax history. Property, plant and equipment accounts stay archived for the fixed asset register.

Deleting an Archived Account​

You can permanently delete an archived account straight from the archive once nothing uses it. You do not need to restore it and archive it again.

  1. Select Accounting > Chart of Accounts
  2. Select the Archived tab
  3. Select the delete (bin) icon next to the account
  4. Check the message in the dialog, then select Delete to confirm

When the dialog opens, Fiskl checks what still uses the account. If something does, the dialog lists it and Delete stays disabled. For example: "This account has 5 transactions and 1 recurring entry. Remove them before deleting it." Remove or move what it lists, then try again.

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Deleting an account is permanent and cannot be undone. If you might need the account again, leave it archived. Archived accounts do not clutter your account lists.

Deleting an archived account needs the same permission as archiving one. If the delete icon shows a lock, ask your account owner for accounting write access.

Default Accounts​

Fiskl assigns certain ledger accounts as defaults for specific transaction types — for example, the account used for sales income or bank fees. You can review and update these defaults in Settings > Accounting Settings.

If you track inventory, Fiskl also creates a set of system accounts for stock movements, such as Inventory, Cost of Goods Sold and Goods Received Not Invoiced. These are created and used automatically. See Setting Up Inventory for what each one records.

Why does account structure matter for reporting?

The way your Chart of Accounts is structured directly affects how your financial reports look. Reports like the Profit and Loss and Balance Sheet group transactions by account type and sub-type. A well-organised CoA means your reports reflect your business accurately and make it easier to spot trends, prepare tax filings, or work with an accountant.

If accounts are miscategorised — for example, an expense recorded under assets — your Balance Sheet and Profit and Loss will both show incorrect figures.