Skip to content

iX ERP comes with a ready-to-use standard chart of accounts, users can add and modify the accounts as required by the business. iX ERP chart of account structure is highly flexible to accommodate all accounting scenarios with unlimited chart levels.

Banking and General Ledger > Basic Data >

iX ERP Structure the chart of accounts using 3 application screens, Account Classes, Account Groups and Accounts.

In iX ERP the account belongs to a group, and the group belongs to a class and the class to a type. Depending on how your country wants to present the balance sheets and profit and loss statements, you can build these rules with help of groups and classes.

Account Classes:

Account types are the highest level and are set within the system as per accounting standard.
The following types have been defined:

  • Assets (1)
  • Liabilities (2)
  • Equity (3)
  • Income (4)
  • Cost of Goods Sold (5)
  • Expenses (6)

The Balance Sheet includes accounts that fall into types 1,2 and 3 whilst the Profit and Loss account includes accounts in types 4,5 and 6.

You can create as many classes as you like. When you do a Trial Balance, the entries will be totalled by class. It is very important to set the Account Classes in the right way, as it is used by iX ERP in several reports, Dashboard and Data Analysis.

Account Groups:

iX ERP allow you to create an unlimited number of groups and its subgroups to suit the way you like to see the accounts and how its grouped and to adhere to your country standard of financial statement.

iX ERP Groups can help your business or organisation to arrange to re-arrange the accounts the way you would like to see your financial reports and how the accounts are grouped.


General Ledger Accounts record the transactions that define the value of the business. Every transaction in the business is recorded (using iX ERP module or direct) against an Account, either as a Debit or Credit.

Using this screen, users can add or modify the Chart of Accounts, please consider the following:

  • Put a structure into your account codes so it is easy to identify where in your Charts it belongs, for example, 1xxx, 11xx for all Asset accounts.
  • Put a descriptive account name in your language, so you can recognise the account.
  • An account should be related to an account group, so make sure you select the right account group.
  • Account codes cannot be repeated and cannot be modified for the already recorded accounts.
  • You should create accounts to be used for other iX ERP modules like Bank Accounts, Tax Accounts and Cash Accounts etc.