Question 1

What is a Chart of Accounts (CoA)?

Accepted Answer

A Chart of Accounts is the complete list of financial accounts used by a business to record transactions. It categorizes all money flows into Assets, Liabilities, Equity, Revenue, and Expenses — forming the foundation of your accounting system.

Question 2

Why do I need GST accounts in my Chart of Accounts?

Accepted Answer

Under GST, you must track CGST/SGST/IGST input credits and output liabilities separately. Without dedicated GST accounts (Input Credit accounts + Output Payable accounts), you cannot reconcile ITC claims, file accurate GSTR-3B, or handle RCM transactions properly.

Question 3

Can I import this Chart of Accounts into Tally?

Accepted Answer

Yes! This tool generates Tally-compatible XML that can be imported via Tally Gateway > Import Data. The XML follows Tally Prime's master import format with proper group hierarchy, opening balances set to zero, and GST classification flags.

Question 4

What is the difference between Trading and Retail templates?

Accepted Answer

Trading template is for wholesale/B2B businesses (includes commission agents, freight, e-commerce platform fees). Retail template is for B2C shops (includes POS charges, shrinkage, visual merchandising). Both include purchase accounts and GST compliance accounts.

Code	Account Name	Type	Nature	Parent
1000	BankSYSTEM	ASSET	DEBIT	—
1010	CashSYSTEM	ASSET	DEBIT	—
1100	Accounts ReceivableSYSTEM	ASSET	DEBIT	—
1150	Advances to Vendors	ASSET	DEBIT	—
1200	Inventory	ASSET	DEBIT	—
1300	Prepaid Expenses	ASSET	DEBIT	—
1400	Fixed Assets	ASSET	DEBIT	—
1500	CGST Input CreditSYSTEM	ASSET	DEBIT	—
1510	SGST Input CreditSYSTEM	ASSET	DEBIT	—
1520	IGST Input CreditSYSTEM	ASSET	DEBIT	—
1600	TDS ReceivableSYSTEM	ASSET	DEBIT	—
1700	Security Deposits	ASSET	DEBIT	—
2000	Accounts PayableSYSTEM	LIABILITY	CREDIT	—
2050	Advances from Customers	LIABILITY	CREDIT	—
2100	CGST Output PayableSYSTEM	LIABILITY	CREDIT	—
2110	SGST Output PayableSYSTEM	LIABILITY	CREDIT	—
2120	IGST Output PayableSYSTEM	LIABILITY	CREDIT	—
2200	TDS PayableSYSTEM	LIABILITY	CREDIT	—
2300	RCM LiabilitySYSTEM	LIABILITY	CREDIT	—
3000	Capital AccountSYSTEM	EQUITY	CREDIT	—
3100	Owner's DrawingsSYSTEM	EQUITY	DEBIT	—
3200	Retained EarningsSYSTEM	EQUITY	CREDIT	—
4000	Sales RevenueSYSTEM	REVENUE	CREDIT	—
4010	Sales Returns	REVENUE	DEBIT	—
4100	Service Revenue	REVENUE	CREDIT	—
4200	Export Revenue	REVENUE	CREDIT	—
4300	E-commerce Revenue	REVENUE	CREDIT	—
4500	Interest Income	REVENUE	CREDIT	—
4900	Other Income	REVENUE	CREDIT	—
5000	Purchase of Goods for Resale	EXPENSE	DEBIT	—
5100	└Purchase Returns	EXPENSE	CREDIT	5000
5400	Freight Inward	EXPENSE	DEBIT	—
5410	Loading & Unloading	EXPENSE	DEBIT	—
5420	Octroi & Entry Tax	EXPENSE	DEBIT	—
6000	Rent	EXPENSE	DEBIT	—
6010	└Godown / Warehouse Rent	EXPENSE	DEBIT	6000
6100	Salaries & Wages	EXPENSE	DEBIT	—
6200	Office Supplies	EXPENSE	DEBIT	—
6210	└Packaging Expense	EXPENSE	DEBIT	6200
6300	Utilities	EXPENSE	DEBIT	—
6400	Travel & Conveyance	EXPENSE	DEBIT	—
6500	Communication	EXPENSE	DEBIT	—
6600	Professional Fees	EXPENSE	DEBIT	—
6700	SaaS & Subscriptions	EXPENSE	DEBIT	—
6800	Marketing & Advertising	EXPENSE	DEBIT	—
6900	Insurance	EXPENSE	DEBIT	—
7000	Repairs & Maintenance	EXPENSE	DEBIT	—
7100	Depreciation	EXPENSE	DEBIT	—
7200	Bank Charges	EXPENSE	DEBIT	—
7400	Late Fees & Penalties	EXPENSE	DEBIT	—
7500	Commission to Agents	EXPENSE	DEBIT	—
7510	E-commerce Platform Fees	EXPENSE	DEBIT	—
9000	General Expenses	EXPENSE	DEBIT	—

Chart of Accounts Generator

Your CoA Summary

Preview — 53 accounts

Why Every Indian Business Needs a Proper Chart of Accounts

How to Import into Tally Prime

Related Resources