Creating/editing Chart of Accounts in Xero

Initially in Xero when we edit our entity profile, it gives auto-build some accounts populates according to nature of business. We can edit it later according to our business needs.

Step#1 On Accounting tab go to the advance and clicks the chart of accounts option.

Step#2

We can add new account. We can also delete any account but again Xero will not permanently delete it but that account will move into archive. We can add our bank account here. we can import or export files and we can get the print of these accounts all possible options are given and we can use.

Some accounts which are build-in by the software we can not delete them because these are core accounts on which accounting system is based. A lock sign is appears with these accounts as shows in below example.