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Reader tools/Xero/Tool 3 of 6

Chart of accounts starter

Goes with Chapter 3, "Setting Up Properly". The short list of accounts the chapter suggests for a trade business, by account type, with the default tax rate the book gives where it gives one. Tick the ones you'll keep, rename Xero's starter accounts to match, and archive the rest. Xero numbers its accounts with codes (such as 200 for Sales); keep the codes of the accounts you rename, and note any new ones in the boxes below. If you're not VAT registered, every account takes "No VAT".
Needs your copy of the bookUnlocked with your copy
 Reader tool Type the unlock word from your copy of Xero It's printed beside the QR code for this tool. Unlock once and every Xero tool stays open on this device. No account needed.
AI Automation cover
Books running themselves? Automate the rest of the admin.Readers of Xero pick up AI Automation next: 19 ready-made workflows that win back hours every week, without code or jargon.
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AI Automation cover
AI Automation The 19 workflows that take the admin off a small business's plate, which tools to use, and a 30-day plan to get there.
Starting a UK Business cover
Starting a UK Business Choose the right structure, register with HMRC and Companies House, set up the money and get through your first year without a nasty surprise.
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