How to create account codes in Xero

Easy-to-follow instructions for creating account codes in your Xero system.

Go to the Accounting tab, and select 'Chart of accounts'.

This page holds the entire list of accounts. From here, select 'Add Account'.

A window will pop up allowing you to create an account. This has the following options:

1. This is where you allocate what kind of account it is (see the right-hand side of the window for guidance)
2. Here you can allocate an account number. Xero will notify you if the number is already in use so you will have to make it unique. Allocation of codes are generally:
   1. 0 – 200 for Revenue codes
   2. 201- 599 for Expense codes
   3. 600 – 699 for Current Asset codes
   4. 700 – 799 for Non-Current Asset codes
   5. 800 – 850 for Current Liability codes
   6. 851 – 900 for Non-Current Liability codes
   7. 900 – 999 for Equity codes
3. Here you can insert the name of the account. This is the name that will be shown in the financial statements and other reports you can generate in Xero.
4. You can add in a further description which will not be shown in the financial statements or reports but will provide some additional background to what the account is for.
5. This drop-down allows you to select the appropriate tax rate for the account. It is important that the tax code is correct, otherwise GST returns may need amending. If you have any questions, please contact us on 03 379 6710.

Once you have filled out the boxes appropriately, click the 'Save' button: