A chart of accounts is a directory of all accounts used for bookkeeping. In this module, a chart of accounts can either be manually created or imported from another software (e.g., DATEV). Additionally, adjustments can be made within the Chart of Accounts module, which is primarily relevant for accounting and mainly used for managing liabilities.
The default accounts for financial accounting exports of documents are located in the Basic Settings under Tax / Currency and within the project-specific settings. If project-based settings have been defined, they take precedence over the global basic settings.
This module can be accessed via Settings > Accounting > Chart of Accounts or by searching for Chart of Accounts in the Smart Search.
A chart of accounts is a structured framework used to systematically organize and present a company's accounts. It includes a list of accounts categorized into different account groups, such as assets, liabilities, revenue, and expenses. The chart of accounts serves as the basis for the company's account plan, which contains the actual accounts used in bookkeeping, ensuring a clear and structured financial record.
In Germany, several standardized charts of accounts exist, often tailored to specific industries. The most well-known and widely used are SKR03 and SKR04:
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SKR04 (Standard Chart of Accounts 04): SKR04 follows a process-oriented structure, making it ideal for companies that book according to the balance sheet structure (Abschlussgliederungsprinzip). Accounts for assets, liabilities, equity, revenue, and expenses are structured similarly to the balance sheet, aligning well with financial statements prepared according to the German Commercial Code (HGB).
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SKR03 (Standard Chart of Accounts 03): SKR03 is business-oriented and is structured according to the total cost method (Gesamtkostenverfahren). Accounts are grouped based on functional aspects, making it beneficial for companies that use a cost center-oriented accounting approach.
Both SKR03 and SKR04 are standards developed by DATEV and are widely used in Germany. The choice between these frameworks depends on the company’s accounting structure and financial reporting requirements.
The following examples are based on the SKR04 chart of accounts. However, Xentral also supports other chart of accounts structures.
Note
These examples are for reference only. Please consult with your tax advisor to determine the appropriate chart of accounts and accounts for your bookkeeping.
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Incidental Costs of Financial Transactions (Account 6855): This account records fees and costs related to payment transactions, such as bank charges.
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Cash in Transit (Account 1460): Amounts in transit between different payment methods or accounts—such as deposits or transfers that have not yet been completed—are recorded here.
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Clearing Accounts (Account 1370): This account is used for amounts collected or disbursed on behalf of a third party, which do not affect the company’s own assets.
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VAT Prepayments (Account 3820): Records VAT prepayments made to the tax office for the current fiscal year.
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Domestic Sales Revenue (Account 4400): Used to record revenue from domestic sales of goods and services. Since this is an automatic account, a separate tax key for 19% VAT is not required.
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Goods Purchases (Account 5400): Captures expenses for purchasing goods. As an automatic account, it also does not require a separate tax key for 19% VAT.
The overview displays a list of all existing accounts.
In the table, individual accounts can be edited using the pencil icon or deleted using the x icon in the Menu column. Additionally, the table can be copied to the clipboard, exported as CSV, Excel, or PDF, or printed.
If an account appears strikethrough, it means that the account has been deactivated and is no longer in use.
Note
Automatic accounts in DATEV (e.g., 5400) are handled like any other account in Xentral. However, when data is transferred to DATEV, the system automatically recognizes and processes automatic accounts accordingly.
For example, a purchase transaction with 19% VAT is recorded on account 5400 without a tax key. Another account, such as office supplies, requires a tax key and is recorded as 906815.
Tip
When using a chart of accounts, you can either manually enter the accounts you use or import an existing chart of accounts.
In practice, companies often use only a fraction of a standard chart of accounts. To maintain clarity and simplify bookkeeping for your team, it is recommended to define the 40 to 150 most relevant accounts in Xentral—ideally in coordination with your tax advisor or auditor.
Below is a detailed guide on how to create a chart of accounts.
Steps:
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Click +NEW to add an account.
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Enter the account number, e.g., '5400'.
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Assign a label to the account, e.g., 'Goods Received 19% Input VAT'.
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(Optional) Select the cost type, e.g., 'Expenses'. This classification is used only within Xentral.
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(Optional) Add notes regarding the account usage, e.g., 'Purchase of trading goods'. These notes can be viewed in the overview or included in an export.
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(Optional) Assign the account to a specific project if it should only be visible or applicable within that project.
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Click Save.
Tip
Deactivating Existing Accounts: By selecting 'Not Visible', you can deactivate accounts that are no longer needed. Deactivated accounts appear strikethrough in the overview and will no longer be available for postings, such as in bank account transactions.
Note
Accounts can be freely assigned in Xentral, but keep in mind that they must match the accounts used in external exports (e.g., DATEV). Otherwise, inconsistencies may lead to errors during the export process.
You can import an account file via the CSV tab.
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Click Select File to choose and upload a file from your computer.
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Click Import to process the file.
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After the import, the following data will be displayed in the overview:
Partial Import of Accounts: If you do not want to import all accounts from your original file, you can either edit the file manually or add the accounts manually in Xentral.
Caution
Pay attention to:
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Ensure UTF-8 encoding is used.
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Use the correct format with the following fields: Account, Label, Note, Type, Active, Project.
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The file must be a .csv file with semicolon (;) as a delimiter and quotation marks ("") for masking.
Exemple: "5400";"Goods Received 19%";"All domestic purchases with 19% VAT";"Expenses";"Standard"
The following fields can be imported via the CSV import:
|
Field Name |
Description |
|---|---|
|
account |
Accounting account, e.g., "5400" or "906815" |
|
label |
Account label (account name), e.g., "Goods Received 19%" or "Office Supplies 19%" |
|
note |
Internal remark / notes on account usage |
|
type |
Account type (possible values: empty, expenses, revenue, money transit, balance) |
|
active |
Account status ("1" → deactivated, "0" → active) |
Example of a Chart of Accounts Import:
|
account |
label |
note |
type |
active |
|---|---|---|---|---|
|
1370 |
Pass-Through Items |
Internal pass-through items |
0 |
|
|
1371 |
Pass-Through Items Tax Office |
Check for tax office monthly closing |
0 |
|
|
1460 |
Money Transit |
All accounts |
Money Transit |
0 |
|
3820 |
VAT Prepayments (Current Year) |
0 |
||
|
5300 |
Goods Received 7% AM |
Domestic suppliers |
Expenses |
0 |
|
5400 |
Goods Received 19% AM |
Domestic suppliers |
Expenses |
0 |
|
905900 |
External Services 19% |
Freelancers, self-employed (except KSK and small businesses) |
Expenses |
0 |
|
906318 |
Additional Rental Costs |
Operating cost statements |
0 |
|
|
906805 |
Telephone, Fax, Internet 19% VAT |
0 |
The chart of accounts is used mainly for incoming payments and the cash book as you post to the accounts of the chart of accounts and export them from there (e.g. to Datev).
When using the chart of accounts with Datev, make sure that the account length is 4 (6805 → Telephone, Fax, Internet) or 6 (906805 → Telephone, Fax, Internet 19% input tax) when specifying tax keys.
In Xentral there are several options where account frames can be defined:
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In the basic settings under Administration > Settings > System > Basic settings > Tax / Currency
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In the project settings under Master data > Projects > ProjectX > Settings > Tax / Currency
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Directly in the individual product under Master data > Product > Open product > Financial accounting
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In the article category settings under Administration > Settings > Master data > Article categories > CategoryX