Charts of Accounts

The Chart of Accounts (CoA) serves as the foundation of your organization's accounting system. The CoA is the central repository that houses all the financial accounts or ledgers which record and track transactions within your organization.

By setting up the CoA, transactions will be organized systematically in the general ledger (GL) whenever a transaction is made, ensuring easy access to impacted accounts and the identification of any imbalances.

Each account under the charts of accounts represents a specific financial category, such as asset, liability, equity, income, and expense. On Woodcore, these accounts are categorized into Header and Detail and their respective account types.

The Header account serves as the parent account under which Detail accounts are grouped. The header accounts are generally used to group and distinguish the sub-accounts (details) from other accounts in the COA.



Header accounts do not allow for manual entries; they are mainly for organizing and categorizing sub-accounts.

The Details, on the other hand, is the sub-ledger that provides more information on the specific account type. For example, Charge Expense created as a header, and SMS charges would be created as a Detail account under the Charge Expense account.

Creating a Chart of Account

While setting up your chart of accounts, we recommend you begin by creating the header account, and subsequently, the sub-ledgers can be created under each ledger.

To create an account, follow the steps below:

  • On your console, navigate to Accounting > Charts of Accounts.
  • Next, on the Charts of Accounts page, click on the Add Account button at the top-right of the screen.
Add Account button

Add Account button

  • Enter the required field:
GL account creation form

GL account creation form

  • Account Type: Select the account type from the drop-down.

  • Account Usage: Select Header or Detail Account. Header accounts are used to group or organize the detail (sub-ledger) accounts.

  • Parent: If you are creating a detail account, select a parent account to link the new account. Once a header account has been created, it is automatically included in the parent account list in the drop-down.

  • Account Name: Enter a name for the account. Ensure the name is short and describes the GL purpose. For example, SMS Notification GL.

  • GL Code: The GL code is a set of numeric values used to identify a general ledger and detail accounts linked to a header account. The GL codes determine the hierarchy of the GL accounts on the COA.

    For example, if the header GL has 11100 as its GL code, a detail account linked to the header will have a GL code of 11100xxxxx

The GL code can be manually inputted or automatically provided by clicking on the icon.

  • Manual entries allowed: (only available for detail accounts) If allowed, you can manually add journal entries to the account from the Journal Entries tab.

  • Tag: Select a tag from the drop-down list. The tags are used for grouping GLs in the reports tab. These tags are created during the tenant onboarding.

  • Description: Enter additional information about the account.

  • Once the required fields have been filled, click on the Submit button to add a new account.

Both the header and detail account are created in the same manner.

Edit Account

Changes and modifications can be made to an existing GL account at any time. The modification can be made to all fields except the GL code fields. To edit an account:

  • On the charts of accounts page, click on the account you want to edit.
  • A modal would appear, click on the Action drop-down button > Edit Account.
  • Enter the edits you wish to make.
GL details modification

GL details modification

  • Click on the Submit button to implement the changes.



The Account usage field cannot be modified once a transactions has been logged in it. This means that you cannot change a Header account to a Detail account and vice versa.

Disable Account

Accounts are enabled by default when they are created. However, whenever the need arises, an existing account GL account can be disabled. Once a GL account is created, it is automatically set to "Active”; disabling an account changes the account status from “Active” to "Inactive.”

To disable an account,

  • On the charts of accounts page, click on the account you want to disable.
  • A modal will appear. Click on the Action drop-down button > Enable Account.
  • Click on Submit to disable the account.

Delete Account

Similarly, you can delete an existing GL account by clicking on Delete Action from the “Action” drop-down list.

General Ledger Account Overview

On the Chart of Accounts dashboard, all created ledgers, headers, and sub-ledgers are displayed. The dashboard organizes the information into sections, such as account name, GL code, account type, status, and tag.

To enable easy navigation and retrieval of specific accounts, the Chart of Accounts dashboard offers search functionality. You can perform searches using the account name, GL code, and account type.

Charts of accounts overview

Charts of accounts overview

Tree View

Alternatively, there is a tree view option available for viewing accounts within the Chart of Accounts dashboard. The tree view presents all accounts organized based on their account types, and they are displayed in a hierarchical structure with appropriate indentation to represent their sub-ledgers.

To access the tree view option for viewing accounts, click on the Tree View button on the right side of the screen.

Below is a visual representation of the account structure and the hierarchical relationships between various accounts.

A tree view of charts of accounts

A tree view of charts of accounts

Create a sub-ledger account

A sub-ledger account, also known as a detail account, can be created under a header account. This means that ONLY a header account can have a sub-ledger account.

You can create as many sub-ledgers under a specific header as you intend. This will allow you easily group the sub-ledgers under a GL. A sub-ledger is created in the same manner as a header account{add link}