Chart of accounts
noun also COA
The chart of accounts is the organized list of every account a business uses to categorize its transactions.
What it means
Accounts fall into five types: assets, liabilities, equity, income, and expenses. The chart of accounts names them and gives each a number, forming the structure that every journal entry posts into.
A well-designed chart of accounts makes reports meaningful: group the right accounts and your Profit & Loss and Balance Sheet read clearly.
In comma
comma ships a ready-made chart of accounts you can extend, with account types and codes that flow directly into live financial reports.
Clear books. A clearer head.
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