Assets
Resources controlled by the business, such as cash, bank balances, receivables and fixed assets.
Chart of Accounts
Build a Chart of Accounts that stays understandable
Organize the financial structure of the business without creating unnecessary complexity, then let journals, documents and reports reuse the same accounts.
Assets Liabilities Equity Income & expenses
Account structure
The map behind every financial report.
A clean Chart of Accounts gives every posting a stable home and keeps reports interpretable as the business grows.
Liabilities
Amounts the business owes, including accounts payable and loans.
Equity
Owner funding, retained value and other ownership interests.
Income
Sales revenue and other income earned by the business.
Expenses
Operating costs, depreciation, bank fees, salaries and other expenses.
Control accounts
Accounts such as receivables, payables, inventory and tax connect detailed activity to the financial statements.
Protected defaults
A usable starting structure without locking you into one chart.
Triplem VIP can bootstrap a default Chart of Accounts for a new Accounting workspace.
Examples of default accounting accounts
| Code | Account | Category |
|---|---|---|
| 1000 | Cash on Hand | Asset |
| 1010 | Bank Account | Asset |
| 1100 | Accounts Receivable | Asset |
| 2000 | Accounts Payable | Liability |
| 3000 | Owner Equity | Equity |
| 4000 | Sales Revenue | Income |
| 5000 | Cost of Goods Sold | Expense |
Account availability and codes are determined by the Accounting workspace bootstrap and later user customization.
Designing your chart
Add detail only where it improves decisions.
A good chart is structured enough for reporting but not so fragmented that everyday posting becomes difficult.
01Start with defaultsUse the protected core accounts as the initial skeleton.
02Add meaningful detailCreate accounts such as Advertising, Vehicle Maintenance or Insurance when separate reporting is valuable.
03Use contacts for partiesKeep customer and supplier detail in subledgers instead of creating hundreds of ledger accounts.
04Use dimensions for analysisProjects, branches and cost centres can add management detail without multiplying ledger accounts.
05Review reportsRefine account structure when the Trial Balance and P&L no longer explain the business clearly.
How accounts become reports
The account type determines where balances are interpreted.
Posted movements are grouped by account type to build financial reports.
Trial Balance
Shows debit, credit and closing balances by account.
Profit & Loss
Uses income and expense accounts to calculate period performance.
Balance Sheet
Uses asset, liability and equity accounts as of a selected date.
General Ledger
Shows the detailed posted lines behind every account balance.
Dimension Profitability
Adds project, department, branch or cost-centre analysis to posted lines.
VAT Summary
Uses tax codes attached to commercial document lines rather than replacing the Chart of Accounts.
Operational modules
Explore the wider Triplem VIP workspace beyond formal Accounting.
Loans, assets, notes and Bitcoin tools remain first-class operational modules and are not removed when Accounting ERP is introduced.
Loan management
Given, taken, repayments and settlement history.
Read guideAssets & depreciation
Acquisition, income, costs, depreciation, book value and reports.
Read guideNotes & reminders
Searchable notes and scheduled follow-ups.
Read guideBitcoin wallet tools
Watch-only, client-side wallet access, history and PDFs.
Read guide Questions
Practical questions about chart of accounts.
The answers below describe the current Triplem VIP Accounting workspace and its present boundaries.
What is a Chart of Accounts?
It is the organized list of ledger accounts used to classify the financial effect of transactions.
Can I add my own accounts?
Yes. The Accounting workspace supports custom accounts while protecting system defaults from ordinary deletion.
Why not create one account for every customer?
Customers and suppliers are handled through contact subledgers and document balances, while the Chart of Accounts remains the higher-level financial structure.
Can accounts be used for cash and bank activity?
Accounts can be marked and used as cash or bank accounts where supported by the Accounting workflow.