Chart of accounts
The chart of accounts is the list of accounts used by your accounting, compliant with the Tunisian chart of accounts (NCT). It is organized into classes 1 to 7 and serves as the basis for all entries: every amount is attached to an account in this reference.
Overview
The chart of accounts is your company's account reference: it is the standardized list of accounts in which all your transactions will be recorded (sales, purchases, payments received, payroll, miscellaneous transactions). Swifto provides it ready to use, compliant with the Tunisian chart of accounts (NCT).
What it provides
- A standardized (NCT) list of accounts
- A clear classification into 7 classes
- A common basis for all entries
- Names adjustable with your accountant
Target audience
- Accountant — structure and names
- Finance manager — balance tracking
- Executive — reading statements
The basis of all accounting
The chart of accounts is the entry point of the module. It feeds the entries, the general ledger and the trial balance.
The 7 account classes
Each account belongs to a class, identified by its first digit. This classification structures the balance sheet (classes 1 to 5) and the income statement (classes 6 and 7).
| Class | Name | Common accounts |
|---|---|---|
| 1 | Equity & liabilities | Capital, reserves, 131 Net income for the year, borrowings. |
| 2 | Fixed assets | Machinery, furniture, equipment and depreciation. |
| 3 | Stocks | Goods for resale, raw materials, finished goods. |
| 4 | Third-party accounts | 411 Customers, 401 Suppliers, Tax authorities & VAT — 4366 Deductible VAT, 4371 VAT collected. |
| 5 | Financial accounts | 532 Bank, 541 Cash register. |
| 6 | Expenses | Purchases, external services, personnel expenses. |
| 7 | Income | 701 Sales, operating income. |
The first digit of the number immediately indicates the nature of the account: an account starting with 7 is always income, with 6 an expense, with 4 a third party.
Hierarchical structure
An account is identified by a number and a name. Accounts nest within each other: the longer the number, the more detailed the account. A general (parent) account groups more specific sub-accounts.
flowchart TD A["Class 4 — Third-party accounts"]:::s --> B["43/44 — Tax authorities & VAT"]:::p B --> C["437 — VAT payable"]:::p C --> D["4371 — VAT collected"]:::ok B --> E["436 — Recoverable VAT"]:::p E --> F["4366 — Deductible VAT"]:::ok classDef p fill:#f3f1ff,stroke:#7366fe,color:#1f1c3d; classDef s fill:#F1F5F9,stroke:#334155,color:#1E293B; classDef ok fill:#CFFAFE,stroke:#0891B2,color:#155E75;
You post your entries to the most detailed accounts; parent accounts are used to group and total in the trial balance and statements.
Collective & auxiliary accounts
Some accounts are collective: they group a population of third parties. This is the case for 411 Customers and 401 Suppliers. In an entry, a collective account always requires an auxiliary account — the third party concerned: a given customer, a given supplier.
flowchart TD C["411 — Customers (collective)"]:::coll --> A1["Customer · Alpha Company"]:::aux C --> A2["Customer · Beta Boutique"]:::aux C --> A3["Customer · Gamma SARL"]:::aux classDef coll fill:#CFFAFE,stroke:#0891B2,color:#155E75; classDef aux fill:#F1F5F9,stroke:#334155,color:#1E293B;
Collective account
A total for all third parties in a category (411 = all customers).
Auxiliary account
The detail by third party, to know the balance of each customer or supplier.
An entry on a collective account without an auxiliary account is refused: the third party must always be specified to keep accurate customer/supplier tracking.
Reconcilable accounts
An account can be marked as reconcilable. Reconciliation consists of matching, on a third party's account, amounts that offset each other — typically an invoice on the debit side and its settlement on the credit side — so as to keep only transactions that are genuinely outstanding.
Invoice
An amount due is recorded to the third party's account.
Settlement
The payment comes in the opposite direction on the same account.
Reconciliation
The two are matched: the line is cleared.
Reconciliation makes it easier to track unpaid amounts: after matching, only amounts not yet settled remain on the account.
Automatic initialization
You don't have to create your chart from scratch. On the first opening of the chart of accounts, Swifto sets up a ready-to-use reference: 75 accounts from the Tunisian chart, already classified and ready to receive your entries.
Ready-to-use accounts
The 75 common accounts are created automatically, spread across the 7 classes.
Review with your accountant
Check the names and adjust them to your business if necessary.
Complete as needed
Add your own accounts (analytical sub-accounts, specific accounts) according to your needs.
Initialization happens only once: it will never duplicate accounts already present and does not overwrite your adjustments.
Managing accounts
From the Chart of accounts screen, you can create a new account, edit an existing account, and make it active or inactive. An inactive account remains visible for history but can no longer receive new entries.
New account
| Field | Role |
|---|---|
| Number | Unique identifier of the account; its first digit fixes the class. |
| Name | Readable label of the account, adjustable to your activity. |
| Class | Attachment to one of the 7 classes of the chart. |
| Collective | Indicates that an auxiliary account (third party) is required in entries. |
| Reconcilable | Allows reconciliation of amounts that offset each other. |
| Active | An inactive account can no longer receive entries. |
Rather than deleting an account that has become unnecessary, deactivate it: you keep its history while preventing it from receiving new entries.
Business rules
One number = one account — each number identifies a single account; the same number is never reused twice.
Never a duplicate account — Swifto prevents the creation of an account already present in the reference.
Collective account = auxiliary mandatory — a collective account (411, 401) requires specifying the third party in every entry.
Review by your accountant recommended — have the names and account settings validated before your first closing.
FAQ & Tips
Do I need to create my chart of accounts?
No: Swifto automatically creates 75 accounts compliant with the Tunisian chart as soon as you first open it. You just need to check and complete them.
Can I delete an account?
Prefer to make it inactive: an account that already has transactions must remain in the reference to preserve the history and statements.
Why does Swifto ask me for a third party on 411 or 401?
Because these are collective accounts: they require an auxiliary account (the customer or supplier) to keep detailed tracking by third party.
Tip — validate with your accountant
Have your accountant review the names and settings (collective, reconcilable) before you start posting entries: it's the basis of all your accounting.
