How your chart of accounts works
Web
Updated Aug 2026
Your chart of accounts is the organised list of “buckets” your money flows through — assets, liabilities, income, expenses and equity. RushFlow gives you a working chart out of the box and posts every sale, purchase, payment and payroll to the right accounts automatically, so you rarely touch it — but here’s how it works when you need to.
The account types
- Assets — what you own (cash, bank, stock, receivables)
- Liabilities — what you owe (payables, loans, tax, customer deposits)
- Income — sales and other revenue
- Expenses — costs of running the business
- Equity — the owner’s stake (capital, drawings, retained profit)
Where to find it
Web: the accounts / chart-of-accounts area. You can add accounts, but the defaults cover most businesses.
Because postings are automatic, the chart mostly runs itself — you read it through reports like the P&L and balance sheet.
Frequently asked questions
Do I need to set up a chart of accounts?
No — RushFlow ships a working chart of accounts and posts to it automatically. You can add accounts if you need to, but most businesses use the defaults.
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