[header] How to understand and set up a general ledger [title] Establish the type of chart of accounts you wish to use. [step] This may be one of the sample charts provided with your software, or you may wish to modify an existing chart or enter a new chart from scratch. If you are not qualified to decide the best approach consult with your accountant. 
Remember that you can always add more chart of account codes in the future. Later on you can also remove chart codes that you have never used.