The chart of accounts

The chart of accounts is the list of every account where Kulanz records your money: the bank, what customers owe you, your sales, your taxes, your expenses. Each account has a number, and the number already tells you what kind of account it is.

How to read a number

The first digit gives the account’s family. Every financial statement is built from these families.

1000–1999: Assets; What the business owns or is owed: the bank, accounts receivable, taxes to recover.
2000–2999: Liabilities; What the business owes: suppliers, taxes collected to remit, wages to pay.
3000–3999: Equity; What belongs to the owners: capital invested and accumulated earnings.
4000–4999: Revenue; Your sales, before taxes.
5000–6999: Expenses; What running the business costs: purchases, wages, rent, software, bank fees.

The accounts in the example

These are the accounts used in the example on the home page, with the numbers from the Québec chart of accounts Kulanz creates by default.

Number	Account	What it’s for
1010	Bank — Operations	Your business bank account. Kulanz reconciles it with the bank statement: the two balances must match.
1160	GST receivable (ITCs)	GST paid on your purchases. You recover it by deducting it on your return.
1170	QST receivable (ITRs)	QST paid on your purchases, recovered the same way.
1200	Accounts receivable	What customers owe you on invoices sent and not yet paid.
2100	GST payable (net)	The GST left to remit once credits are deducted, when you file.
2110	QST payable (net)	The QST left to remit once refunds are deducted.
2120	GST collected (on sales)	GST charged to your customers. It isn’t yours: you remit it.
2130	QST collected (on sales)	QST charged to your customers, to remit to Revenu Québec.
4010	Professional services revenue	Your service sales, before taxes. A quote doesn’t count here: only the invoice does.
5000	Expenses (5000–6999)	Your costs, one account each: supplies, software, rent. Kulanz suggests the right account when it reads a receipt.
6800	Bank fees	The bank’s service fees, with no tax. Added to your chart of accounts when needed.

Your chart of accounts in Kulanz

When you open your account, Kulanz creates a basic Québec chart of accounts. You can rename accounts or add new ones, and your accountant sees exactly the same list you do.

The chart of accounts

How to read a number

The first digit gives the account’s family. Every financial statement is built from these families.

1000–1999: Assets; What the business owns or is owed: the bank, accounts receivable, taxes to recover.
2000–2999: Liabilities; What the business owes: suppliers, taxes collected to remit, wages to pay.
3000–3999: Equity; What belongs to the owners: capital invested and accumulated earnings.
4000–4999: Revenue; Your sales, before taxes.
5000–6999: Expenses; What running the business costs: purchases, wages, rent, software, bank fees.

The accounts in the example

These are the accounts used in the example on the home page, with the numbers from the Québec chart of accounts Kulanz creates by default.

Number	Account	What it’s for
1010	Bank — Operations	Your business bank account. Kulanz reconciles it with the bank statement: the two balances must match.
1160	GST receivable (ITCs)	GST paid on your purchases. You recover it by deducting it on your return.
1170	QST receivable (ITRs)	QST paid on your purchases, recovered the same way.
1200	Accounts receivable	What customers owe you on invoices sent and not yet paid.
2100	GST payable (net)	The GST left to remit once credits are deducted, when you file.
2110	QST payable (net)	The QST left to remit once refunds are deducted.
2120	GST collected (on sales)	GST charged to your customers. It isn’t yours: you remit it.
2130	QST collected (on sales)	QST charged to your customers, to remit to Revenu Québec.
4010	Professional services revenue	Your service sales, before taxes. A quote doesn’t count here: only the invoice does.
5000	Expenses (5000–6999)	Your costs, one account each: supplies, software, rent. Kulanz suggests the right account when it reads a receipt.
6800	Bank fees	The bank’s service fees, with no tax. Added to your chart of accounts when needed.

Your chart of accounts in Kulanz

When you open your account, Kulanz creates a basic Québec chart of accounts. You can rename accounts or add new ones, and your accountant sees exactly the same list you do.