What This Module Covers
Account classification by type, reporting group structure, borrowings and investment classification, exchange gain/loss handling, system-controlled accounts, and full chart import or customisation.
Secure First-Time Access
New users activate their accounts by setting a password and verifying their email. Authentication safeguards ensure controlled access from the moment the workspace is created.
Custom Login & Referral Access
A personalised login URL can be configured with your own branding, enabling white-label presentation for partners or clients.
Referral URLs can also be generated to manage sign-ups referred in your workspace.
Group Access & Multi-Company Control
Borrowings and investments are structured to reflect correctly in financial statements and cash flow reporting.
Exchange gain or loss handling can be enabled for selected income and expense accounts, allowing foreign currency differences to be recorded accurately within reporting logic.
System Accounts & Structural Integrity
Core system accounts support automation and reporting accuracy. These accounts maintain posting consistency across receivables, payables, inventory, cost of goods sold, depreciation, exchange differences, retained earnings, and rounding adjustments.
System accounts can be renamed or hidden, but remain protected to preserve the accounting structure.
Import, Export & Custom Structures
The full chart of accounts can be exported, edited, and re-imported for structured updates.
Default charts can be replaced, reset, or aligned across multiple entities to maintain consistent account structures where required.
Frequently Asked Questions
What is a Chart of Accounts in accounting software?
A chart of accounts is the structured list of all accounts used to record financial transactions in an accounting system. It defines how income, expenses, assets, liabilities, and equity are classified, which directly affects reporting accuracy, tax treatment, and cash flow presentation.
How does the Chart of Accounts work in AI Account?
In the AI Account, the chart of accounts controls how transactions flow across modules such as sales, expenses, inventory, fixed assets, and banking. Each account type determines where transactions appear, how exchange gains or losses are handled, and how balances are reported in financial statements.
Can I customise the Chart of Accounts in AI Account?
AI Account allows full customisation of the chart of accounts. You can edit account names and numbers, create new accounts, group accounts for reporting, import accounts from Excel, or delete default accounts and replace them with your own structure.
What are system accounts, and why are they locked?
System accounts are required for automation and accounting integrity. These accounts support functions such as trade receivables, trade payables, inventory movements, depreciation, and exchange gain or loss. They cannot be deleted to ensure transactions post correctly, and reports remain accurate.
How do account types affect financial reports?
Account types determine how balances appear in the Balance Sheet, Profit and Loss, and Cash Flow Statement. For example, borrowings classified under liabilities appear in Financing Activities, while investments classified as non-current assets appear under Investing Activities.
How does account grouping improve financial reporting?
Account grouping allows you to control how accounts are presented in grouped financial statements. You can define custom group headers for the Balance Sheet and Profit and Loss without changing the underlying accounts or transaction logic.
How are borrowings handled in the Chart of Accounts?
Borrowings are classified by maturity. Short-term borrowings are recorded under current liabilities, while long-term borrowings are recorded under non-current liabilities. Interest expenses are recorded separately to ensure correct classification in financial and cash flow reports.
How are investments recorded in the Chart of Accounts?
Investments are recorded as non-current assets when they are held for more than 12 months. When marked correctly, these accounts are automatically reported under Investing Activities in the Cash Flow Statement.
How does exchange gain or loss work in the AI Account?
Accounts can be enabled for exchange gains or losses when handling foreign currency transactions. This allows exchange differences to be recorded accurately during payments or receipts and reflected correctly in financial reports.
Can I import or export my Chart of Accounts?
AI Account supports exporting the full chart of accounts to Excel and importing updates back into the system. This makes it easy to bulk update accounts, apply groupings, hide unused accounts, or replicate a chart of accounts across multiple companies.
Can I use my own Chart of Accounts instead of the default one?
If you prefer to use your own chart of accounts, you can delete all default accounts and import a custom structure. This is especially useful for accounting firms or groups that want consistency across multiple entities.
Does the Chart of Accounts affect e-Invoicing?
Yes. Account selections influence how transactions are captured for e-Invoicing. Incorrect account usage may require manual handling of e-Invoices or cause certain transactions to be excluded from automated e-Invoice generation.
Is the Chart of Accounts country-specific?
The default chart of accounts in AI Account is tailored to the country selected during company setup. This ensures compliance with local reporting and statutory requirements while still allowing full customisation.