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Bookkeeping

Understand Your Chart of Accounts

The chart of accounts is the backbone of your books. Here's how to read and adjust it.

Updated July 14, 2026

Every transaction in CheckSmith.ai posts to an account. Accounts are grouped by type: assets, liabilities, equity, income, and expenses.

When you create a workspace, we seed a starter chart of accounts. You can rename, add, or archive accounts at any time.

How to add an account

  1. Open Bookkeeping > Chart of Accounts.
  2. Click 'New account.'
  3. Pick a code (four digits, e.g. 6250), a name, a type, and the normal balance (debit or credit).
  4. Save. The new account is available immediately in invoices and journal entries.

Once an account has activity, you can archive but not delete it — history depends on it.

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