When you create an organization, nullish sets up a complete chart of accounts for its legal form: one for LLCs and corporations, one for sole proprietorships. You'll find it under Settings → Accounting → Accounts.
Accounts
Section titled “Accounts”Each account has a Code, a Name and a Type: Assets, Liabilities, Equity, Income, Expenses or Closing. Accounts can be grouped under a Parent account, e.g. 1020 Bank sits in the group of liquid assets.
- You book on the accounts at the bottom of the tree. Groups only add up what's below them.
- Leave the Name empty to keep the standard name, translated into your language.
- Need an account that isn't there? Choose Create account.
System accounts
Section titled “System accounts”Some bookings happen automatically: opening an invoice, recording a payment, writing off a debt, closing the year. nullish needs to know which account to use for each of them. That's what System accounts are for, under Settings → Accounting → System accounts.
They come preset, so you usually don't need to touch them. The ones nullish books on today:
| System account | Default | Used when |
|---|---|---|
| Debtors | 1100 | an invoice is opened, paid or written off |
| Default income | 3400 | an invoice is opened |
| VAT due | 2200 | an invoice or entry carries VAT |
| Bank account | 1020 | a payment is recorded without picking a bank account |
| Creditors | 2300 | a client pays too much |
| Bad debts | 3805 | an invoice is written off |
| Rounding differences | 6945 | amounts need rounding to the cent |
| Exchange gains / losses | 6999 / 6949 | a foreign-currency payment differs from the invoice |
| Annual profit or loss | 9200 | the year is closed |
| Annual result (equity) | 2979, or 2891 for a sole proprietorship | the year is closed |
To use another account, for example a separate income account, choose Edit and pick it.