Occasionally, you may find that you need to add an account to your Chart of Accounts. This is very simply done in Xero.

  • First, you can find the Chart of Account by click on the Settings tab then click on Chart of Accounts as shown in the image below.

COA Xero 1

  • Next, click on Add Account.
  • The Add New Account window will appear as shown below. First, you must choose the Account Type. On the right of the window, you will see that Xero provides a very helpful breakdown of how account types affect your Profit & Loss and Balance Sheet.

COA Xero 2

  • Second, you will need to enter a unique code. If the code you enter is not already being used by another account, a green box will appear letting you know that it is available. If the code is already in use, you will see a red box saying that the code is not available. Next, enter the name of the account.
  • If this is an account that you would like to keep an eye on, then at the bottom of the screen check the box for Show on Dashboard Watchlist. Also at the bottom you can choose to Show in Expense Claims and Enable payment to this account.
  • Lastly, click

It is very important that accounts are set up correctly. If you would like assistance, we would be happy to help.