Free Chart of Accounts Template (Excel)

Download and open in Excel or Google Sheets

Keep the Instructions tab open in a second window while you work.

Delete accounts you don't need, add ones you do

Every business is different — a service business won't need Inventory, a retailer will. Keep the numbering pattern when you add new accounts.

Match account names to how you actually think about your money

Use "Software Expense" instead of a generic "Office Expense" if that's clearer for you — consistency matters more than matching any one system exactly.

Import into your bookkeeping software

Most platforms (QuickBooks, Xero, Wave) let you import a chart of accounts from a spreadsheet — check your platform's import format first.

Run the built-in AI prompt once it's finalized

Attach the file to ChatGPT or Claude and ask it to flag anything missing or duplicated before you start using it.

Skipping the numbering system entirely

Listing account names with no numbering makes it hard to sort, filter, or import into software later — the numbering is what makes the list scalable.

Creating a separate account for every vendor or client

Use one general account (e.g. "Office Supplies") and track vendor-level detail in your bookkeeping software instead — a bloated chart of accounts becomes unusable fast.

Mixing personal and business accounts

Always keep a completely separate chart of accounts — and a separate bank account — for the business, even if it's just you.

Getting too granular too early

Start broad. Add a new account only once you actually need to report on that detail separately — you can always split an account later, but merging a dozen overly specific ones is a headache.