Glossary
Chart of accounts
The chart of accounts is the skeleton of the accounts. Every entry lands on an account, and the chart decides where in the income statement and the balance sheet the figure ends up. A good chart is as short as possible and as long as necessary. In Danish it is the kontoplan.
Updated 21 October 2026
What is a chart of accounts?
A chart of accounts consists of numbered accounts in groups. The income statement's accounts hold revenue and costs, the balance sheet's accounts hold assets, equity and liabilities. Account 61000 Bank, for example, is an asset, 83000 Output VAT a liability and 33040 IT software subscriptions a cost.
Three accounts have a special role: Debtors, where customer invoices and payments meet, Creditors, where supplier invoices and payments meet, and the bank account, which has to agree with the bank. They are called control accounts because they gather many counterparties on one account.
Chart of accounts in Veneti
In Veneti a Danish chart of accounts with VAT codes is ready from day one, so you can book from your first sign-in. Every account has a type and a category that decide where it shows in the income statement and the balance sheet, and a standard account from the Danish Business Authority's standard chart, which the annual report is built on. You can add your own accounts and categories and deactivate the ones you do not use.
The control accounts Debtors, Creditors and Bank are recognised by their role, not by number or name, so invoices and payments always land in the right place. How to read and adapt the chart: Guide to the chart of accounts.
Related terms
- VAT code: the chart's partner, which controls the VAT on the entry.
- Debtor: the control account for customers who owe you money.
- Balance sheet: the statement the balance accounts make up.