Chart of accounts
The chart of accounts is the list of all accounts your organization has available to record your transactions in Xero. Having the right chart of accounts makes a big difference for your organization. It helps you classify your transactions correctly, and generate meaningful reports to help you run your business better. Xero assigns your organization a default chart of accounts when you start on Xero. If you prefer, you can import a chart from your previous accounting system, or your own custom chart.