Tutorial

Set up your chart of accounts

Your chart of accounts is the backbone every financial statement is built from. This tutorial gets you from template to a chart you'd actually sign off on.

Steps

  1. 1

    Open Settings → Chart of Accounts

    Your industry template is pre-loaded here from setup, grouped into Assets, Liabilities, Equity, Revenue, and Expenses.

  2. 2

    Rename and reorganize

    Edit account names to match how your team actually talks about them. Renaming doesn't break history — every past journal line still points at the same account.

  3. 3

    Add the accounts your template missed

    New accounts need a type (Asset, Liability, Equity, Revenue, Expense) and a normal balance direction — Coro uses this to know which side of an entry increases the balance.

  4. 4

    Mark system accounts

    A handful of accounts — like your default cash account — are referenced by other modules (POS, payroll). Confirm these are set before you post your first transaction.

Deleting an account with existing postings isn’t allowed — Coro never hard-deletes anything with financial history. Archive it instead; archived accounts stay on old statements but drop out of new entry forms.

Verify it

Once you’ve saved changes, open Reports → Balance Sheet. A fresh workspace with no transactions should show a Balanced badge at zero on both sides — that’s Coro confirming your structure is sound before you’ve even posted anything.

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