The chart of accounts is a list of all accounts you can use to record your transactions in PayTraq.
To view your chart of accounts, go to My PayTraq -> Settings -> Accounting -> Chart of Accounts.
PayTraq assigns a default chart of accounts when you set up your company profile. The chart of accounts depends on the country where your company is registered.
Default Charts of Accounts
To create a new account you can either select the similar account and click on the Copy button (it is the recommended way)
or click Create New Entry
Please note that by creating a new account from scratch you will be needing to define the account type and group as well as to assign an account to the correct balance sheet/pl and cash flow lines.