Chart of Accounts: setup and management
Understand the default account structure and learn how to add custom accounts.
What is the Chart of Accounts?
The Chart of Accounts (CoA) is the foundation of your accounting, a categorised list of every account your business uses. NavoBook ships with a default CoA suitable for Pakistani businesses, covering Assets, Liabilities, Equity, Revenue, and Expenses.
Adding a new account
- 1Go to Accounting → Chart of Accounts
- 2Click Add Account
- 3Choose the Account Type (e.g., Expense)
- 4Choose the Sub-type (e.g., Cost of Goods Sold)
- 5Enter the Account Name and an optional Code
- 6Click Save
Give accounts specific names like "Fuel Expense" rather than generic ones like "Expense 1". It makes reports far easier to read.
Chart of Accounts: all your accounts organised by type
Account types explained
Assets: things your business owns (cash, bank, receivables, inventory. Liabilities: what you owe) payables, loans, tax payable. Equity: owner investment and retained earnings. Revenue: income from sales and services. Expenses: costs of running the business.
Opening balances
If you are migrating from another system, enter opening balances for all balance sheet accounts.
- 1Go to Accounting → Opening Balances
- 2Set the migration date
- 3Enter the balance for each account
- 4The system checks that Assets = Liabilities + Equity before saving
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