diff --git a/README.md b/README.md
index 24d1531..8566536 100644
--- a/README.md
+++ b/README.md
@@ -6,9 +6,9 @@ Put an hledger journal in a fenced `hledger` code block in a topic's first
 post. The block is replaced by a dashboard with four reports, generated live
 by the `hledger` command line tool:
 
-- Accounts and balances
-- Balance sheet
-- Income statement
+- Accounts and balances (a full account tree, each name capitalized)
+- Balance sheet (indented account tree under each section)
+- Income statement (indented account tree under each section)
 - Equity distribution (contributed capital, not legal ownership)
 
 ## Installation
diff --git a/assets/javascripts/discourse/components/hledger-dashboard.gjs b/assets/javascripts/discourse/components/hledger-dashboard.gjs
index 0353a21..2cd1847 100644
--- a/assets/javascripts/discourse/components/hledger-dashboard.gjs
+++ b/assets/javascripts/discourse/components/hledger-dashboard.gjs
@@ -7,6 +7,7 @@ import { eq } from "discourse/truth-helpers";
 import DButton from "discourse/ui-kit/d-button";
 import DConditionalLoadingSpinner from "discourse/ui-kit/d-conditional-loading-spinner";
 import DDatePicker from "discourse/ui-kit/d-date-picker";
+import dConcatClass from "discourse/ui-kit/helpers/d-concat-class";
 import { i18n } from "discourse-i18n";
 
 const REPORT_IDS = ["accounts", "balance_sheet", "income_statement", "equity"];
@@ -118,7 +119,7 @@ export default class HledgerDashboard extends Component {
   }
 
   depthClass(depth) {
-    return `hledger-dashboard__account--depth-${Math.min(depth || 0, 5)}`;
+    return `--depth-${Math.min(depth || 0, 3)}`;
   }
 
   <template>
@@ -209,10 +210,14 @@ export default class HledgerDashboard extends Component {
                     {{#each section.rows as |row|}}
                       <tr>
                         <td
-                          class="hledger-dashboard__account
-                            {{this.depthClass row.depth}}"
+                          class={{dConcatClass
+                            "hledger-dashboard__account"
+                            (this.depthClass row.depth)
+                            (if row.root "--root")
+                          }}
+                          title={{row.account}}
                         >
-                          {{row.account}}
+                          {{row.label}}
                         </td>
                         <td class="hledger-dashboard__amount">{{this.amountText
                             row.amounts
diff --git a/assets/stylesheets/hledger.scss b/assets/stylesheets/hledger.scss
index 782dda0..fcdb092 100644
--- a/assets/stylesheets/hledger.scss
+++ b/assets/stylesheets/hledger.scss
@@ -48,38 +48,46 @@
       text-align: start;
       border-bottom: 1px solid var(--primary-low);
     }
+
+    // Scoped to the table so these modifiers beat the cell rule above.
+    .hledger-dashboard__account {
+      padding-inline-start: 0.5em;
+
+      &.--root {
+        font-weight: bold;
+      }
+
+      &.--depth-1 {
+        padding-inline-start: 1.5em;
+      }
+
+      &.--depth-2 {
+        padding-inline-start: 2.5em;
+      }
+
+      &.--depth-3 {
+        padding-inline-start: 3.5em;
+      }
+
+      &.--depth-4 {
+        padding-inline-start: 4.5em;
+      }
+
+      &.--depth-5 {
+        padding-inline-start: 5.5em;
+      }
+    }
+
+    .hledger-dashboard__amount {
+      text-align: end;
+    }
   }
 
   &__amount {
-    text-align: end;
     white-space: nowrap;
     font-variant-numeric: tabular-nums;
   }
 
-  &__account {
-    padding-inline-start: 0.5em;
-
-    &--depth-1 {
-      padding-inline-start: 1.5em;
-    }
-
-    &--depth-2 {
-      padding-inline-start: 2.5em;
-    }
-
-    &--depth-3 {
-      padding-inline-start: 3.5em;
-    }
-
-    &--depth-4 {
-      padding-inline-start: 4.5em;
-    }
-
-    &--depth-5 {
-      padding-inline-start: 5.5em;
-    }
-  }
-
   &__total {
     font-weight: bold;
   }
diff --git a/lib/hledger/account_tree.rb b/lib/hledger/account_tree.rb
new file mode 100644
index 0000000..e68f4ad
--- /dev/null
+++ b/lib/hledger/account_tree.rb
@@ -0,0 +1,66 @@
+# frozen_string_literal: true
+
+module Hledger
+  # Expands hledger's flat account balance rows into a full account tree.
+  #
+  # hledger's machine-readable balance output is always flat and omits parent
+  # accounts, so ancestors are synthesized here and their balances aggregated
+  # per commodity.
+  module AccountTree
+    module_function
+
+    # entries: [[full_account_name, [{ "commodity" =>, "quantity" => BigDecimal, "style" => }]], ...]
+    #
+    # Returns tree-ordered rows (parents before children), each:
+    # { "account" =>, "label" =>, "depth" =>, "root" =>, "amounts" => [...] }
+    # with "amounts" reusing the per-commodity shape of the input.
+    def expand(entries)
+      order = []
+      nodes = {}
+
+      entries.each do |name, amounts|
+        segments = name.to_s.split(":")
+
+        segments.each_with_index do |segment, index|
+          prefix = segments.first(index + 1).join(":")
+          node =
+            nodes[prefix] ||= begin
+              order << prefix
+              {
+                "account" => prefix,
+                "label" => capitalize(segment),
+                "depth" => index,
+                "root" => index.zero?,
+                "amounts" => {
+                },
+              }
+            end
+
+          Array(amounts).each { |amount| add_amount(node["amounts"], amount) }
+        end
+      end
+
+      order.map do |prefix|
+        node = nodes.fetch(prefix)
+        node.merge("amounts" => node["amounts"].values)
+      end
+    end
+
+    def add_amount(bucket, amount)
+      commodity = amount["commodity"].to_s
+
+      if (existing = bucket[commodity])
+        existing["quantity"] += amount["quantity"]
+      else
+        bucket[commodity] = amount.merge
+      end
+    end
+
+    def capitalize(segment)
+      text = segment.to_s
+      return text unless text.match?(/\A[a-z]/)
+
+      text[0].upcase + text[1..]
+    end
+  end
+end
diff --git a/lib/hledger/report_builder.rb b/lib/hledger/report_builder.rb
index 7e93a9b..8af307b 100644
--- a/lib/hledger/report_builder.rb
+++ b/lib/hledger/report_builder.rb
@@ -1,7 +1,6 @@
 # frozen_string_literal: true
 
 require "bigdecimal"
-require "csv"
 require "json"
 
 module Hledger
@@ -41,11 +40,7 @@ module Hledger
       rows, total = parse_json(result.stdout)
 
       sections = [
-        {
-          "title" => nil,
-          "rows" => Array(rows).map { |row| account_row(row) },
-          "total" => amounts(Array(total)),
-        },
+        { "title" => nil, "rows" => account_rows(Array(rows)), "total" => amounts(Array(total)) },
       ]
 
       envelope("accounts", begin_date, end_date, "sections" => sections, "net" => nil)
@@ -60,8 +55,20 @@ module Hledger
             period_flags(begin_date, end_date)
           end
         )
-      result = run([COMPOUND_COMMANDS.fetch(report_type), "-O", "csv", *flags], journal)
-      sections, net = parse_compound_csv(result.stdout)
+      result = run([COMPOUND_COMMANDS.fetch(report_type), "-O", "json", *flags], journal)
+      report = parse_json(result.stdout)
+
+      sections =
+        Array(report["cbrSubreports"]).map do |entry|
+          title, subreport = entry
+
+          {
+            "title" => title,
+            "rows" => compound_section_rows(Array(subreport["prRows"]), title),
+            "total" => amounts(Array(subreport.dig("prTotals", "prrTotal"))),
+          }
+        end
+      net = amounts(Array(report.dig("cbrTotals", "prrTotal")))
 
       envelope(report_type, begin_date, end_date, "sections" => sections, "net" => net)
     end
@@ -113,60 +120,69 @@ module Hledger
       raise ParseError, e.message
     end
 
-    def account_row(row)
-      display, full, _depth, row_amounts = row
-      account = (full || display).to_s
+    def account_rows(rows)
+      entries =
+        rows.map do |row|
+          display, full, _depth, row_amounts = row
+          [(full || display).to_s, Array(row_amounts).map { |amount| raw_amount(amount) }]
+        end
 
-      {
-        "account" => account,
-        "depth" => depth_of(account),
-        "amounts" => amounts(Array(row_amounts)),
-      }
+      tree_rows(entries)
     end
 
-    def parse_compound_csv(text)
-      rows = CSV.parse(text)
-      sections = []
-      current = nil
-      net = nil
-
-      rows.each_with_index do |row, index|
-        next if index < 2
-
-        label = row[0].to_s
-        raw_amount = row[1].to_s
-        next if label.blank?
-
-        case label
-        when "Total:"
-          current["total"] = [parse_amount_string(raw_amount)] if current
-        when "Net:"
-          net = [parse_amount_string(raw_amount)]
-        else
-          if raw_amount.blank?
-            current = { "title" => label, "rows" => [], "total" => nil }
-            sections << current
-          elsif current
-            current["rows"] << {
-              "account" => label,
-              "depth" => depth_of(label),
-              "amounts" => [parse_amount_string(raw_amount)],
-            }
-          end
+    def compound_rows(rows)
+      entries =
+        rows.map do |row|
+          [row["prrName"].to_s, Array(row["prrTotal"]).map { |amount| raw_amount(amount) }]
         end
-      end
 
-      [sections, net]
+      tree_rows(entries)
+    end
+
+    # The section heading stands in for the matching top-level account, so its
+    # subtree starts flush with the heading (one level shallower).
+    def compound_section_rows(rows, title)
+      nodes = compound_rows(rows)
+      root = nodes.find { |node| node["root"] && title_matches_root?(title, node["label"]) }
+      return nodes unless root
+
+      prefix = "#{root["account"]}:"
+
+      nodes
+        .reject { |node| node.equal?(root) }
+        .map do |node|
+          node["account"].start_with?(prefix) ? node.merge("depth" => node["depth"] - 1) : node
+        end
+    end
+
+    def tree_rows(entries)
+      AccountTree
+        .expand(entries)
+        .map do |node|
+          node.merge("amounts" => node["amounts"].map { |part| normalized_amount(part) })
+        end
+    end
+
+    def title_matches_root?(title, label)
+      label.to_s.casecmp?(title.to_s)
     end
 
     def amounts(list)
-      Array(list).map { |amount| amount_to_h(amount) }
+      Array(list).map { |amount| normalized_amount(raw_amount(amount)) }
     end
 
-    def amount_to_h(amount)
-      quantity = quantity_of(amount["aquantity"])
-      style = amount["astyle"] || {}
-      commodity = amount["acommodity"].to_s
+    def raw_amount(amount)
+      {
+        "commodity" => amount["acommodity"].to_s,
+        "quantity" => quantity_of(amount["aquantity"]),
+        "style" => amount["astyle"] || {},
+      }
+    end
+
+    def normalized_amount(part)
+      commodity = part["commodity"].to_s
+      quantity = part["quantity"]
+      style = part["style"] || {}
 
       {
         "commodity" => commodity,
@@ -178,34 +194,6 @@ module Hledger
       }
     end
 
-    def parse_amount_string(raw)
-      text = raw.to_s.strip
-      return nil if text.empty?
-
-      if (match = text.match(/\A(-?\d+(?:[.,]\d+)?)\s*(.*)\z/))
-        number = match[1]
-        commodity = match[2].strip
-        side = "R"
-      elsif (match = text.match(/\A(.*?)\s*(-?\d+(?:[.,]\d+)?)\z/))
-        commodity = match[1].strip
-        number = match[2]
-        side = "L"
-      else
-        return nil
-      end
-
-      quantity = BigDecimal(number.tr(",", "."))
-
-      {
-        "commodity" => commodity,
-        "quantity" => quantity.to_s("F"),
-        "display" => text,
-        "side" => side,
-        "spaced" => commodity.present? && text.include?(" "),
-        "precision" => number.match?(/[.,]/) ? number.split(/[.,]/).last.length : 0,
-      }
-    end
-
     def quantity_of(aquantity)
       return BigDecimal(0) if aquantity.blank?
 
@@ -235,10 +223,6 @@ module Hledger
       end
     end
 
-    def depth_of(account)
-      account.to_s.count(":")
-    end
-
     def balance_flags(begin_date, end_date)
       flags = []
       flags += ["-e", (end_date + 1).iso8601] if end_date
diff --git a/spec/fixtures/balance_sheet.csv b/spec/fixtures/balance_sheet.csv
deleted file mode 100644
index 5368822..0000000
--- a/spec/fixtures/balance_sheet.csv
+++ /dev/null
@@ -1,8 +0,0 @@
-"Balance Sheet 2024-03-15",""
-"Account","2024-03-15"
-"Assets",""
-"assets:bank:checking","1029.50 EUR"
-"Total:","1029.50 EUR"
-"Liabilities",""
-"Total:","0"
-"Net:","1029.50 EUR"
diff --git a/spec/fixtures/balance_sheet.json b/spec/fixtures/balance_sheet.json
new file mode 100644
index 0000000..5d48f95
--- /dev/null
+++ b/spec/fixtures/balance_sheet.json
@@ -0,0 +1,104 @@
+{
+  "cbrSubreports": [
+    [
+      "Assets",
+      {
+        "prRows": [
+          {
+            "prrName": "assets:bank:checking",
+            "prrTotal": [
+              {
+                "acommodity": "EUR",
+                "aprice": null,
+                "aquantity": {
+                  "decimalMantissa": 102950,
+                  "decimalPlaces": 2,
+                  "floatingPoint": 1029.5
+                },
+                "astyle": {
+                  "ascommodityside": "R",
+                  "ascommodityspaced": true,
+                  "asdecimalmark": ".",
+                  "asdigitgroups": null,
+                  "asprecision": 2,
+                  "asrounding": "HardRounding"
+                }
+              }
+            ]
+          }
+        ],
+        "prTotals": {
+          "prrTotal": [
+            {
+              "acommodity": "EUR",
+              "aprice": null,
+              "aquantity": {
+                "decimalMantissa": 102950,
+                "decimalPlaces": 2,
+                "floatingPoint": 1029.5
+              },
+              "astyle": {
+                "ascommodityside": "R",
+                "ascommodityspaced": true,
+                "asdecimalmark": ".",
+                "asdigitgroups": null,
+                "asprecision": 2,
+                "asrounding": "HardRounding"
+              }
+            }
+          ]
+        }
+      },
+      true
+    ],
+    [
+      "Liabilities",
+      {
+        "prRows": [],
+        "prTotals": {
+          "prrTotal": [
+            {
+              "acommodity": "EUR",
+              "aprice": null,
+              "aquantity": {
+                "decimalMantissa": 0,
+                "decimalPlaces": 2,
+                "floatingPoint": 0
+              },
+              "astyle": {
+                "ascommodityside": "R",
+                "ascommodityspaced": true,
+                "asdecimalmark": ".",
+                "asdigitgroups": null,
+                "asprecision": 2,
+                "asrounding": "HardRounding"
+              }
+            }
+          ]
+        }
+      },
+      false
+    ]
+  ],
+  "cbrTotals": {
+    "prrTotal": [
+      {
+        "acommodity": "EUR",
+        "aprice": null,
+        "aquantity": {
+          "decimalMantissa": 102950,
+          "decimalPlaces": 2,
+          "floatingPoint": 1029.5
+        },
+        "astyle": {
+          "ascommodityside": "R",
+          "ascommodityspaced": true,
+          "asdecimalmark": ".",
+          "asdigitgroups": null,
+          "asprecision": 2,
+          "asrounding": "HardRounding"
+        }
+      }
+    ]
+  }
+}
\ No newline at end of file
diff --git a/spec/fixtures/income_statement.csv b/spec/fixtures/income_statement.csv
deleted file mode 100644
index da1eb2f..0000000
--- a/spec/fixtures/income_statement.csv
+++ /dev/null
@@ -1,9 +0,0 @@
-"Income Statement 2024-01-01..2024-03-15",""
-"Account","2024-01-01..2024-03-15"
-"Revenues",""
-"revenues:donations","50.00 EUR"
-"Total:","50.00 EUR"
-"Expenses",""
-"expenses:hosting:server","20.50 EUR"
-"Total:","20.50 EUR"
-"Net:","29.50 EUR"
diff --git a/spec/fixtures/income_statement.json b/spec/fixtures/income_statement.json
new file mode 100644
index 0000000..cd5e884
--- /dev/null
+++ b/spec/fixtures/income_statement.json
@@ -0,0 +1,127 @@
+{
+  "cbrSubreports": [
+    [
+      "Revenues",
+      {
+        "prRows": [
+          {
+            "prrName": "revenues:donations",
+            "prrTotal": [
+              {
+                "acommodity": "EUR",
+                "aprice": null,
+                "aquantity": {
+                  "decimalMantissa": 5000,
+                  "decimalPlaces": 2,
+                  "floatingPoint": 50
+                },
+                "astyle": {
+                  "ascommodityside": "R",
+                  "ascommodityspaced": true,
+                  "asdecimalmark": ".",
+                  "asdigitgroups": null,
+                  "asprecision": 2,
+                  "asrounding": "HardRounding"
+                }
+              }
+            ]
+          }
+        ],
+        "prTotals": {
+          "prrTotal": [
+            {
+              "acommodity": "EUR",
+              "aprice": null,
+              "aquantity": {
+                "decimalMantissa": 5000,
+                "decimalPlaces": 2,
+                "floatingPoint": 50
+              },
+              "astyle": {
+                "ascommodityside": "R",
+                "ascommodityspaced": true,
+                "asdecimalmark": ".",
+                "asdigitgroups": null,
+                "asprecision": 2,
+                "asrounding": "HardRounding"
+              }
+            }
+          ]
+        }
+      },
+      true
+    ],
+    [
+      "Expenses",
+      {
+        "prRows": [
+          {
+            "prrName": "expenses:hosting:server",
+            "prrTotal": [
+              {
+                "acommodity": "EUR",
+                "aprice": null,
+                "aquantity": {
+                  "decimalMantissa": 2050,
+                  "decimalPlaces": 2,
+                  "floatingPoint": 20.5
+                },
+                "astyle": {
+                  "ascommodityside": "R",
+                  "ascommodityspaced": true,
+                  "asdecimalmark": ".",
+                  "asdigitgroups": null,
+                  "asprecision": 2,
+                  "asrounding": "HardRounding"
+                }
+              }
+            ]
+          }
+        ],
+        "prTotals": {
+          "prrTotal": [
+            {
+              "acommodity": "EUR",
+              "aprice": null,
+              "aquantity": {
+                "decimalMantissa": 2050,
+                "decimalPlaces": 2,
+                "floatingPoint": 20.5
+              },
+              "astyle": {
+                "ascommodityside": "R",
+                "ascommodityspaced": true,
+                "asdecimalmark": ".",
+                "asdigitgroups": null,
+                "asprecision": 2,
+                "asrounding": "HardRounding"
+              }
+            }
+          ]
+        }
+      },
+      false
+    ]
+  ],
+  "cbrTotals": {
+    "prrTotal": [
+      {
+        "acommodity": "EUR",
+        "aprice": null,
+        "aquantity": {
+          "decimalMantissa": 2950,
+          "decimalPlaces": 2,
+          "floatingPoint": 29.5
+        },
+        "astyle": {
+          "ascommodityside": "R",
+          "ascommodityspaced": true,
+          "asdecimalmark": ".",
+          "asdigitgroups": null,
+          "asprecision": 2,
+          "asrounding": "HardRounding"
+        }
+      }
+    ]
+  }
+}
\ No newline at end of file
diff --git a/spec/lib/hledger/account_tree_spec.rb b/spec/lib/hledger/account_tree_spec.rb
new file mode 100644
index 0000000..d0e9ccb
--- /dev/null
+++ b/spec/lib/hledger/account_tree_spec.rb
@@ -0,0 +1,69 @@
+# frozen_string_literal: true
+
+require "bigdecimal"
+
+RSpec.describe Hledger::AccountTree do
+  def part(commodity, quantity, style = {})
+    { "commodity" => commodity, "quantity" => BigDecimal(quantity), "style" => style }
+  end
+
+  describe ".expand" do
+    it "synthesizes ancestors in tree order" do
+      rows =
+        described_class.expand(
+          [["assets:bank:checking", [part("EUR", "10")]], ["equity:alice", [part("EUR", "-10")]]],
+        )
+
+      expect(rows.map { |row| row["account"] }).to eq(
+        %w[assets assets:bank assets:bank:checking equity equity:alice],
+      )
+      expect(rows.map { |row| row["depth"] }).to eq([0, 1, 2, 0, 1])
+      expect(rows.map { |row| row["root"] }).to eq([true, false, false, true, false])
+      expect(rows.map { |row| row["label"] }).to eq(%w[Assets Bank Checking Equity Alice])
+    end
+
+    it "aggregates amounts per commodity up the tree" do
+      rows =
+        described_class.expand(
+          [
+            ["assets:bank:checking", [part("EUR", "100"), part("USD", "5")]],
+            ["assets:bank:savings", [part("EUR", "50")]],
+          ],
+        )
+
+      assets = rows.find { |row| row["account"] == "assets" }
+      expect(
+        assets["amounts"].map { |amount| [amount["commodity"], amount["quantity"].to_s("F")] },
+      ).to eq([%w[EUR 150.0], %w[USD 5.0]])
+    end
+
+    it "includes a parent's own postings" do
+      rows =
+        described_class.expand(
+          [["assets", [part("EUR", "10")]], ["assets:bank", [part("EUR", "5")]]],
+        )
+
+      assets = rows.find { |row| row["account"] == "assets" }
+      expect(assets["amounts"].first["quantity"].to_s("F")).to eq("15.0")
+    end
+
+    it "keeps the first style seen for a commodity" do
+      style = { "asprecision" => 0 }
+      rows = described_class.expand([["assets", [part("EUR", "10", style)]]])
+
+      expect(rows.first["amounts"].first["style"]).to eq(style)
+    end
+  end
+
+  describe ".capitalize" do
+    it "upcases only an ASCII lowercase first letter" do
+      expect(described_class.capitalize("checking")).to eq("Checking")
+      expect(described_class.capitalize("bankAccount")).to eq("BankAccount")
+      expect(described_class.capitalize("VISA")).to eq("VISA")
+      expect(described_class.capitalize("123abc")).to eq("123abc")
+      expect(described_class.capitalize("_private")).to eq("_private")
+      expect(described_class.capitalize("érste")).to eq("érste")
+      expect(described_class.capitalize("")).to eq("")
+    end
+  end
+end
diff --git a/spec/lib/hledger/integration_spec.rb b/spec/lib/hledger/integration_spec.rb
index f566136..cc83c39 100644
--- a/spec/lib/hledger/integration_spec.rb
+++ b/spec/lib/hledger/integration_spec.rb
@@ -33,6 +33,27 @@ RSpec.describe "Hledger integration" do
     )
   end
 
+  it "renders the accounts report as a tree" do
+    rows = builder.build("accounts", journal: journal)["sections"].first["rows"]
+    by_account = rows.index_by { |row| row["account"] }
+
+    expect(by_account.keys.first(3)).to eq(%w[assets assets:bank assets:bank:checking])
+    expect(by_account["assets:bank"]["label"]).to eq("Bank")
+    expect(by_account["assets:bank"]["amounts"].first["display"]).to eq("1029.50 EUR")
+  end
+
+  it "renders the balance sheet and income statement as trees" do
+    assets = builder.build("balance_sheet", journal: journal)["sections"].first
+    expect(assets["title"]).to eq("Assets")
+    expect(assets["rows"].map { |row| row["label"] }).to eq(%w[Bank Checking])
+    expect(assets["rows"].map { |row| row["depth"] }).to eq([0, 1])
+
+    expenses = builder.build("income_statement", journal: journal)["sections"].last
+    expect(expenses["title"]).to eq("Expenses")
+    expect(expenses["rows"].map { |row| row["label"] }).to eq(%w[Hosting Server])
+    expect(expenses["rows"].map { |row| row["depth"] }).to eq([0, 1])
+  end
+
   it "rejects journals with include directives" do
     expect(Hledger::Journal.extract("```hledger\ninclude /etc/hostname\n```").error).to eq(
       :include_not_allowed,
diff --git a/spec/lib/hledger/report_builder_spec.rb b/spec/lib/hledger/report_builder_spec.rb
index 5e5c862..16a64f8 100644
--- a/spec/lib/hledger/report_builder_spec.rb
+++ b/spec/lib/hledger/report_builder_spec.rb
@@ -4,8 +4,8 @@ class FakeHledgerRunner
   FIXTURES = Rails.root.join("plugins/hledger/spec/fixtures")
   FILES = {
     "accounts" => "accounts.json",
-    "balance_sheet" => "balance_sheet.csv",
-    "income_statement" => "income_statement.csv",
+    "balance_sheet" => "balance_sheet.json",
+    "income_statement" => "income_statement.json",
     "equity" => "equity.json",
   }.freeze
 
@@ -42,12 +42,27 @@ RSpec.describe Hledger::ReportBuilder do
   subject(:builder) { described_class.new(runner: FakeHledgerRunner.new) }
 
   describe "accounts" do
-    it "returns flat account rows with totals" do
+    it "returns the full account tree with aggregated totals" do
       report = builder.build("accounts", journal: "journal")
 
       expect(report["report_type"]).to eq("accounts")
       rows = report["sections"].first["rows"]
-      expect(rows.map { |row| row["account"] }).to include("assets:bank:checking", "equity:alice")
+
+      expect(rows.map { |row| row["account"] }).to start_with(
+        "assets",
+        "assets:bank",
+        "assets:bank:checking",
+      )
+      expect(rows.map { |row| row["label"] }).to include("Assets", "Bank", "Checking")
+
+      assets = rows.find { |row| row["account"] == "assets" }
+      expect(assets["depth"]).to eq(0)
+      expect(assets["root"]).to be(true)
+      expect(assets["amounts"].first["display"]).to eq("1029.50 EUR")
+
+      equity = rows.find { |row| row["account"] == "equity" }
+      expect(equity["amounts"].first["display"]).to eq("-1000.00 EUR")
+
       checking = rows.find { |row| row["account"] == "assets:bank:checking" }
       expect(checking["depth"]).to eq(2)
       expect(checking["amounts"].first["display"]).to eq("1029.50 EUR")
@@ -61,6 +76,10 @@ RSpec.describe Hledger::ReportBuilder do
 
       expect(report["sections"].map { |s| s["title"] }).to eq(%w[Assets Liabilities])
       assets = report["sections"].first
+      expect(assets["rows"].map { |row| row["label"] }).to eq(%w[Bank Checking])
+      expect(assets["rows"].map { |row| row["depth"] }).to eq([0, 1])
+      expect(assets["rows"].map { |row| row["root"] }).to eq([false, false])
+      expect(assets["rows"].last["amounts"].first["display"]).to eq("1029.50 EUR")
       expect(assets["total"].first["display"]).to eq("1029.50 EUR")
       expect(report["net"].first["display"]).to eq("1029.50 EUR")
     end
@@ -71,6 +90,10 @@ RSpec.describe Hledger::ReportBuilder do
       report = builder.build("income_statement", journal: "journal")
 
       expect(report["sections"].map { |s| s["title"] }).to eq(%w[Revenues Expenses])
+      expect(report["sections"].first["rows"].map { |row| row["label"] }).to eq(["Donations"])
+      expect(report["sections"].first["rows"].map { |row| row["depth"] }).to eq([0])
+      expect(report["sections"].last["rows"].map { |row| row["label"] }).to eq(%w[Hosting Server])
+      expect(report["sections"].last["rows"].map { |row| row["depth"] }).to eq([0, 1])
       expect(report["net"].first["display"]).to eq("29.50 EUR")
     end
   end
diff --git a/spec/requests/hledger/reports_spec.rb b/spec/requests/hledger/reports_spec.rb
index 5359daa..277d522 100644
--- a/spec/requests/hledger/reports_spec.rb
+++ b/spec/requests/hledger/reports_spec.rb
@@ -14,9 +14,9 @@ class StubHledgerRunner
       if argv.include?("^equity:")
         "equity.json"
       elsif argv.include?("bs")
-        "balance_sheet.csv"
+        "balance_sheet.json"
       elsif argv.include?("is")
-        "income_statement.csv"
+        "income_statement.json"
       else
         "accounts.json"
       end
@@ -62,6 +62,7 @@ RSpec.describe Hledger::ReportsController do
     expect(json["sections"].first["rows"].map { |row| row["account"] }).to include(
       "assets:bank:checking",
     )
+    expect(json["sections"].first["rows"].map { |row| row["label"] }).to include("Assets", "Bank")
   end
 
   it "returns the balance sheet report" do
@@ -69,6 +70,10 @@ RSpec.describe Hledger::ReportsController do
 
     expect(response.status).to eq(200)
     expect(response.parsed_body["sections"].map { |s| s["title"] }).to eq(%w[Assets Liabilities])
+    expect(response.parsed_body["sections"].first["rows"].map { |row| row["label"] }).to eq(
+      %w[Bank Checking],
+    )
+    expect(response.parsed_body["sections"].first["rows"].map { |row| row["depth"] }).to eq([0, 1])
   end
 
   it "returns the income statement report" do
@@ -76,6 +81,9 @@ RSpec.describe Hledger::ReportsController do
 
     expect(response.status).to eq(200)
     expect(response.parsed_body["net"].first["display"]).to eq("29.50 EUR")
+    expect(response.parsed_body["sections"].last["rows"].map { |row| row["label"] }).to eq(
+      %w[Hosting Server],
+    )
   end
 
   it "returns the equity distribution" do
diff --git a/test/javascripts/acceptance/hledger-test.js b/test/javascripts/acceptance/hledger-test.js
index 481cbaf..7b69dd6 100644
--- a/test/javascripts/acceptance/hledger-test.js
+++ b/test/javascripts/acceptance/hledger-test.js
@@ -13,9 +13,29 @@ const accountsReport = {
     {
       title: null,
       rows: [
+        {
+          account: "assets",
+          label: "Assets",
+          depth: 0,
+          root: true,
+          amounts: [
+            { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
+          ],
+        },
         {
           account: "assets:bank",
+          label: "Bank",
           depth: 1,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
+          ],
+        },
+        {
+          account: "assets:bank:checking",
+          label: "Checking",
+          depth: 2,
+          root: false,
           amounts: [
             { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
           ],
@@ -52,6 +72,92 @@ const equityReport = {
   meta: { hledger_version: "1.52.1" },
 };
 
+const balanceSheetReport = {
+  report_type: "balance_sheet",
+  period: { begin: null, end: null },
+  sections: [
+    {
+      title: "Assets",
+      rows: [
+        {
+          account: "assets:bank",
+          label: "Bank",
+          depth: 0,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
+          ],
+        },
+        {
+          account: "assets:bank:checking",
+          label: "Checking",
+          depth: 1,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
+          ],
+        },
+      ],
+      total: [{ commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" }],
+    },
+    {
+      title: "Liabilities",
+      rows: [],
+      total: [{ commodity: "EUR", quantity: "0.0", display: "0.00 EUR" }],
+    },
+  ],
+  net: [{ commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" }],
+  meta: { hledger_version: "1.52.1" },
+};
+
+const incomeStatementReport = {
+  report_type: "income_statement",
+  period: { begin: null, end: null },
+  sections: [
+    {
+      title: "Revenues",
+      rows: [
+        {
+          account: "revenues:donations",
+          label: "Donations",
+          depth: 0,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "50.0", display: "50.00 EUR" },
+          ],
+        },
+      ],
+      total: [{ commodity: "EUR", quantity: "50.0", display: "50.00 EUR" }],
+    },
+    {
+      title: "Expenses",
+      rows: [
+        {
+          account: "expenses:hosting",
+          label: "Hosting",
+          depth: 0,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "20.5", display: "20.50 EUR" },
+          ],
+        },
+        {
+          account: "expenses:hosting:server",
+          label: "Server",
+          depth: 1,
+          root: false,
+          amounts: [
+            { commodity: "EUR", quantity: "20.5", display: "20.50 EUR" },
+          ],
+        },
+      ],
+      total: [{ commodity: "EUR", quantity: "20.5", display: "20.50 EUR" }],
+    },
+  ],
+  net: [{ commodity: "EUR", quantity: "29.5", display: "29.50 EUR" }],
+  meta: { hledger_version: "1.52.1" },
+};
+
 acceptance("Hledger plugin", function (needs) {
   needs.settings({ hledger_enabled: true });
 
@@ -68,6 +174,12 @@ acceptance("Hledger plugin", function (needs) {
     server.get(`/hledger/topics/${TOPIC_ID}/reports/equity`, () =>
       helper.response(equityReport)
     );
+    server.get(`/hledger/topics/${TOPIC_ID}/reports/balance_sheet`, () =>
+      helper.response(balanceSheetReport)
+    );
+    server.get(`/hledger/topics/${TOPIC_ID}/reports/income_statement`, () =>
+      helper.response(incomeStatementReport)
+    );
   });
 
   test("renders the dashboard in place of the journal", async function (assert) {
@@ -87,8 +199,54 @@ acceptance("Hledger plugin", function (needs) {
       .dom(".hledger-dashboard__toolbar .btn:nth-of-type(4)")
       .hasText("Equity");
     assert.dom(".hledger-dashboard__table").includesText("Total");
-    assert.dom(".hledger-dashboard__table").includesText("assets:bank");
+    assert.dom(".hledger-dashboard__table").includesText("Assets");
+    assert.dom(".hledger-dashboard__table").includesText("Bank");
+    assert.dom(".hledger-dashboard__table").includesText("Checking");
     assert.dom(".hledger-dashboard__table").includesText("1000.00 EUR");
+    assert.dom(".hledger-dashboard__account.--depth-1").hasText("Bank");
+    assert.dom(".hledger-dashboard__account.--depth-2").hasText("Checking");
+    assert
+      .dom('.hledger-dashboard__account[title="assets:bank"]')
+      .hasText("Bank");
+
+    const rootAccount = document.querySelector(
+      ".hledger-dashboard__account.--depth-0"
+    );
+    const childAccount = document.querySelector(
+      ".hledger-dashboard__account.--depth-1"
+    );
+    const grandchildAccount = document.querySelector(
+      ".hledger-dashboard__account.--depth-2"
+    );
+    const amountCell = rootAccount
+      .closest("tr")
+      .querySelector(".hledger-dashboard__amount");
+    const paddingStart = (element) =>
+      parseFloat(
+        getComputedStyle(element).getPropertyValue("padding-inline-start")
+      );
+
+    assert.true(
+      paddingStart(childAccount) > paddingStart(rootAccount),
+      "indents child accounts"
+    );
+    assert.true(
+      paddingStart(grandchildAccount) > paddingStart(childAccount),
+      "indents grandchild accounts"
+    );
+    assert.true(
+      ["end", "right"].includes(getComputedStyle(amountCell).textAlign),
+      "aligns amounts to the end"
+    );
+    assert.true(
+      parseInt(
+        getComputedStyle(
+          document.querySelector(".hledger-dashboard__account.--root")
+        ).fontWeight,
+        10
+      ) >= 700,
+      "bolds root accounts"
+    );
   });
 
   test("switches to the equity distribution", async function (assert) {
@@ -99,4 +257,51 @@ acceptance("Hledger plugin", function (needs) {
     assert.dom(".hledger-dashboard__table").includesText("alice");
     assert.dom(".hledger-dashboard__table").includesText("60.00%");
   });
+
+  test("renders the balance sheet and income statement as trees", async function (assert) {
+    await visit("/t/-/45");
+
+    await click(".hledger-dashboard__toolbar .btn:nth-of-type(2)");
+
+    assert.dom(".hledger-dashboard__section-title").exists({ count: 2 });
+    assert
+      .dom('.hledger-dashboard__account[title="assets:bank"]')
+      .hasText("Bank");
+    assert
+      .dom('.hledger-dashboard__account[title="assets:bank:checking"]')
+      .hasText("Checking");
+    assert
+      .dom(".hledger-dashboard__account.--depth-0")
+      .hasText("Bank", "starts the tree flush under the heading");
+    assert.dom(".hledger-dashboard__account.--depth-1").hasText("Checking");
+    assert
+      .dom(".hledger-dashboard__account.--root")
+      .doesNotExist("no root rows once the heading stands in for the root");
+
+    const bank = document.querySelector(
+      '.hledger-dashboard__account[title="assets:bank"]'
+    );
+    const checking = document.querySelector(
+      '.hledger-dashboard__account[title="assets:bank:checking"]'
+    );
+
+    assert.true(
+      parseFloat(
+        getComputedStyle(checking).getPropertyValue("padding-inline-start")
+      ) >
+        parseFloat(
+          getComputedStyle(bank).getPropertyValue("padding-inline-start")
+        ),
+      "indents below the heading's first level"
+    );
+
+    await click(".hledger-dashboard__toolbar .btn:nth-of-type(3)");
+
+    assert
+      .dom('.hledger-dashboard__account[title="revenues:donations"]')
+      .hasText("Donations");
+    assert
+      .dom('.hledger-dashboard__account[title="expenses:hosting:server"]')
+      .hasText("Server");
+  });
 });