The chart of accounts
Every dollar that flows through your business gets categorized somewhere. The chart of accounts is the list of those categories — it's how CloudFFL OS organizes your money into buckets like "Sales Revenue," "Cost of Goods Sold," "Rent Expense," and "Bank Account."
If you've ever looked at a profit and loss statement or a balance sheet, you've already seen the chart of accounts in action — those reports are built by adding up the totals in each account.
What's already set up for you
CloudFFL OS comes with a standard US chart of accounts pre-configured. It includes the accounts most businesses need right out of the box:
| Account Type | Examples | What it tracks |
|---|---|---|
| Revenue | Product Sales, Service Income | Money earned from selling products and services |
| Expenses | Cost of Goods Sold, Rent, Utilities, Advertising | Money spent to run your business |
| Assets | Bank Account, Accounts Receivable, Inventory | What your business owns or is owed |
| Liabilities | Accounts Payable, Sales Tax Payable, Loans | What your business owes others |
| Equity | Owner's Equity, Retained Earnings | The owner's stake in the business |
You probably don't need to change it
For most FFL dealers, the default chart of accounts works as-is. CloudFFL OS automatically posts transactions to the right accounts — when you sell a Glock, revenue goes to your sales account, and the cost goes to Cost of Goods Sold. You don't have to choose an account for every transaction.
When would you customize it? If your accountant wants to track certain expenses separately — like splitting "Advertising" into "Online Advertising" and "Print Advertising" — you can add new accounts. But don't do this on your own. Work with your accountant or bookkeeper to decide what categories make sense for your business and tax situation.
Where to find it
To view your chart of accounts:
- Go to Accounting → Configuration → Chart of Accounts.
- You'll see a list of all accounts organized by type (assets, liabilities, equity, revenue, expenses).
- Each account shows its code (a number like 100100 or 400000), name, type, and current balance.
Don't delete or rename accounts without talking to your accountant first. The chart of accounts is the foundation of your financial records. Deleting an account that has transactions posted to it can cause reporting problems. If you need to reorganize, your accountant can advise on the right approach.
How accounts connect to daily work
You won't interact with the chart of accounts during normal daily operations. Here's what happens automatically:
- You confirm a customer invoice → revenue is posted to your sales account, and the amount owed is posted to Accounts Receivable
- You record a vendor bill → the expense is posted to the appropriate expense account, and the amount you owe is posted to Accounts Payable
- A customer pays → Accounts Receivable goes down, and your bank account goes up
- You pay a vendor → Accounts Payable goes down, and your bank account goes down
The chart of accounts is the backbone that makes all of this work — but CloudFFL OS handles the routing for you. Your job is to confirm invoices, record bills, and register payments. The system takes care of where the numbers land.