Chart of Accounts & Double-Entry Masterclass
Explore the mathematical backbone of NespoCASH. Every transaction generated across retail POS, inventory dispatches, and bill payments adheres strictly to the fundamental accounting equation: Assets = Liabilities + Equity.
[IMAGE - Chart of accounts tree structure view showing 5 main account categories: Assets, Liabilities, Equity, Revenues, Expenses]
The 5 Standard Account Categories
- 1000 - Assets (Assets): Cash in bank, till vault, inventory, accounts receivable, and equipment.
- 2000 - Liabilities (Liabilities): Supplier accounts payable, VAT payable, and short-term loans.
- 3000 - Equity (Equity): Owner capital contributions and retained earnings.
- 4000 - Revenues (Revenue): Retail sales, wholesale revenue, and service income.
- 5000 - Expenses (Expenses): Cost of goods sold, rent, utilities, and wages.
Accounting & Ledger Impact
| Account Name | Code | Classification | Debit | Credit |
|---|---|---|---|---|
| General Ledger Balancing Control | 9999 | System Control | 0.00 | 0.00 |
Note: The system rejects any un-balanced journal voucher before saving to ensure trial balance equality at all times.