Build Your Chart of Accounts

This article explains how to add and configure accounting codes in your account settings to classify expenses and revenue accurately in Mazlo.

Introduction

A well-structured chart of accounts is essential for creating an accurate and insightful profit and loss (P&L) statement. By categorizing expenses and revenue with specific accounting codes, you can better track financial activities, generate meaningful reports, and ensure compliance with tax regulations.

Add an Accounting Code to Build Your Chart of Accounts

Step 1: Click the Gear Icon ⚙ to Open the Account Settings and Select 'Accounting'

Click on 'Accounting' in the menu.

Step 2: Open the Accounting Codes Tab

When you open Accounting, first you'll land on your organization's live P&L. Click on the 'Accounting Codes' tab to start building your chart of accounts.

Step 3: Click 'Add Accounting Code'

Step 4: Select whether this Code is to Classify Expenses or Revenue

Step 5: Enter the Title of the Accounting Code to Identify its Purpose

Step 6: Enter the Accounting Code Number to Match Your Chart of Accounts

Step 7: Select the 990 Code that the Code Represents

Click Select 990 Code.

Select the 990 code this accounting code is correlated to. Click Save.

Step 8: Enable this Code for Tax Letter Eligibility

Check the option to enable this code for tax letter eligibility. *This will allow automatic tax letter generation for transactions coded with this accounting code.