Bookkeeping
Chart of accounts design
A chart of accounts built around how your Australian business actually operates, with GST tax codes set correctly from the start, so reports answer real questions instead of forcing everything into generic categories. Where a chart already exists we tidy and map it rather than rebuild from nothing, with a guide showing which GST code applies.
Bank reconciliation summary
Illustrative client · August 2026
AUD
| Account | Difference | Status | ||
|---|---|---|---|---|
| Operating account··4821 | 184,220.16 | 184,220.16 | 0.00 | Reconciled |
| Reserve account··0937 | 60,000.00 | 60,000.00 | 0.00 | Reconciled |
| Company card··1006 | (12,418.52) | (12,418.52) | 0.00 | Reconciled |
| Card processor clearing | 8,905.40 | 8,905.40 | 0.00 | Reconciled |
| Payroll clearing | 0.00 | 0.00 | 0.00 | Reconciled |
Last weekly runFri, 28 Aug, every account agreed to its statement.
Two open itemsTwo card receipts requested from you, marked on the card account until they arrive.
Illustrative. An example of the document, not a client's figures.
A structure that carries the GST coding correctly
A chart of accounts in Australia has to do two jobs at once: reflect how the business actually earns and spends money, and carry the right GST tax code on every account so BAS reporting is not reconstructed by hand each quarter. Finbryn designs a chart of accounts that does both, mapped to your revenue streams and cost structure, with account numbering and naming that stays consistent as the business grows.
We check every account against the correct GST treatment, taxable, GST-free, input-taxed or out of scope, so a transaction posted to the right account automatically carries the right BAS coding. Getting this wrong is one of the more common reasons a business's BAS figures do not match its actual trading, not because the transactions were entered incorrectly, but because the chart itself was set up without GST in mind.
Where a business already has a chart of accounts, we usually tidy and consolidate it rather than rebuilding from nothing, unless it is genuinely holding back reporting. Either way, we map old accounts to new ones so prior-period comparisons and BAS working papers still line up after the change.
Built for Xero, MYOB or QuickBooks Online
Each of these platforms handles GST tax codes slightly differently, and we design the chart with the specific platform's tax-code behaviour in mind, rather than a generic structure ported in from another system. A migration plan carries your existing history across with no lost detail.
A guide for anyone coding transactions
Alongside the chart itself, we provide a short guide explaining what goes where and which GST code applies, so anyone entering transactions, including you, codes them correctly the first time rather than leaving it to be corrected at reconciliation.
Questions
Frequently asked questions: Chart of accounts design
We already have a chart of accounts. Will you rebuild it?
Only where it is genuinely holding back your reporting or your GST coding. Often we tidy and consolidate an existing chart rather than starting over.
Will a new chart of accounts break our BAS history?
No. We map old accounts to new ones so prior-period comparisons and BAS working papers still work after the change.
Does the chart set up GST codes automatically?
Yes. Every account is checked against the correct GST treatment so a transaction posted correctly carries the right BAS coding without manual correction later.
Who signs off on the new chart of accounts before it goes live?
You do. We propose a structure based on how the business actually reports and runs it past you before anything is renamed or restructured in the live file.
What is not included in chart of accounts design?
We design the structure; ongoing bookkeeping to that structure is a separate monthly plan. This service is the one-off setup or redesign itself.
We already have a chart of accounts. Do you rebuild it?
Only where it is genuinely holding back your reporting. Often we tidy and consolidate an existing chart rather than starting over.
Will a new chart of accounts break my historical reports?
No. We map old accounts to new ones so prior-period comparisons still work after the change.
Who reviews the work before it reaches us?
Every deliverable under chart of accounts design is reviewed by a senior principal before it reaches you. You keep access to the underlying file at every stage, so nothing about the work happens somewhere you cannot see it.
What is included in chart of accounts design?
Chart of accounts design covers a chart of accounts mapped to your revenue streams and cost structure and account numbering and naming that stays consistent as you grow. The exact scope is agreed and set out in writing before work starts, so you know precisely what is and is not covered before the first deliverable arrives.
Related services
- BookkeepingAccrual basis bookkeepingBooks kept on an accrual basis, matching income and expenses to the period they were earned or incurred, so reports reflect the real state of the business.
- BookkeepingClass and location trackingTransactions tagged by class, location, property or department, so profit and loss can be sliced by the parts of the business that actually matter to you.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.