Chart of Accounts

The Chart of Accounts is a foundational feature in Manager.io, enabling you to structure, categorize, and manage all accounts recorded by your business. Access it anytime under the Settings tab to review, modify, or expand your financial account structure.

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Layout Overview

The Chart of Accounts screen is divided into two main sections:

1. Balance Sheet (Left Side)

• Purpose: Houses all accounts and groups that appear on your Balance Sheet.

• Actions:

  • Create a New Account: Click New Account (left side).
    • See Balance Sheet Account — Edit for details.
  • Group Accounts: If you manage many balance sheet accounts, organize them by clicking New Group. Common groups include:
    • Current Assets
    • Non-Current Assets
    • Current Liabilities
    • Non-Current Liabilities
  New Group

2. Profit and Loss Statement (Right Side)

• Purpose: Contains all accounts, groups, and optional sub-totals related to your Profit and Loss Statement.
• Actions:

  • Create a New Account: Click New Account (right side).

  • Organize with Subgroups: For extensive accounts, use meaningful groupings such as:

    • Direct Expenses
    • Operating Expenses
    • Other Income
    • Other Expenses
    New Group

  • Add Custom Totals: Click New Total to add custom sub-totals like:

    • Gross Profit
    • Operating Profit
    • Net Profit Before Tax
    • Net Profit After Tax

    This builds a clear, multi-step Profit & Loss Statement.

    New Total

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Rearranging Accounts and Groups

On both sides, you can reorder accounts, groups, and sub-totals using the blue arrow buttons. Top-level groups (Assets, Liabilities, Equity) cannot be reordered in this screen, but you can select different layouts for these groups when generating an actual Balance Sheet report.

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Built-In Accounts

Based on the tabs and features you enable in Manager, built-in accounts are automatically included in your Chart of Accounts. These accounts can be renamed to suit your preferences. Here’s how certain actions lead to the creation of specific accounts:

• Bank & Cash Accounts:
  • Add a bank or cash account → Cash & cash equivalents, Inter Account Transfers
• Customers / Suppliers:
  • Add a customer → Accounts receivable
  • Add a supplier → Accounts payable
• Billable Time / Expenses:
  • Create billable time → Billable time
  • Enable Billable Expenses → Billable expenses
• Capital Accounts:
  • Add a capital account → Capital Accounts
• Employees:
  • Add an employee → Employee clearing account
• Expense Claims:
  • Add an expense claim payer → Expense claims
• Fixed Assets:
  • Add a fixed asset → Fixed assets, at cost, Fixed assets, accumulated depreciation
  • Record depreciation / disposal → Fixed assets - depreciation, Fixed assets - loss on disposal
• Intangible Assets:
  • Add an intangible asset → Intangible assets, at cost, Intangible assets, accumulated amortization
  • Record amortization / disposal → Intangible assets - amortization, Intangible assets - loss on disposal
• Inventory:
  • Add inventory item / revaluation → Inventory on hand, Inventory - sales, Inventory - cost
• Investments:
  • Add an investment → Investments, at cost
  • Add investment prices → Investment gains (losses)
• Special Accounts:
  • Add a special account → Special Accounts
• Tax Codes / Withholding Tax:
  • Add a tax code → Tax payable
  • Record withholding tax → Withholding tax, Withholding tax receivable, Withholding tax payable
• Retained Earnings:
  • Always added automatically

Each account has a dedicated guide for more information (see links in original documentation).

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P&L: Built-In Profit & Loss Accounts

Depending on your actions, the following additional P&L accounts may be created:

• Billable Expenses:
  • Enabled → Billable expenses - cost, Billable expenses - invoiced
• Billable Time:
  • Create time → Billable time - invoiced, Billable time - movement
• Foreign Currency:
  • Create currency → Foreign exchange gains (losses)
• Depreciation or Amortization Entries:
  • Create entries → Fixed assets - depreciation, Intangible assets - amortization
• Late Payment or Invoice Rounding:
  • Create late payment fee / enable invoice rounding → Late payment fees, Rounding expense
• Sales of Inventory:
  • Add inventory → Inventory - sales, Inventory - cost

Each account’s form and settings are explained in their respective help guides.

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Summary

The Chart of Accounts in Manager.io provides powerful, flexible control over the financial structure of your business.

• Use groups and accounts to build clear Balance Sheet and Profit & Loss Statement layouts.
• Take advantage of automatic account creation as new Manager features and tabs are enabled.
• Customize, reorder, and summarize your financial data for reporting and analysis.

For more in-depth guidance on specific accounts or forms, refer to the relevant links provided in your Manager.io documentation.