All 5 Chart of Accounts Setup questions
More in Chart of Accounts Setup
How is a chart of accounts usually numbered? How do you design a CoA for a growing business? What is the difference between a control (header) and a posting (detail) account? How do you handle multiple entities or currencies in the CoA?
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Accounting Software & Systems › Chart of Accounts Setup

What is a chart of accounts (CoA)?

Beginner

Answer

A structured, coded list of every ledger account a business uses, grouped by type: assets, liabilities, equity, income and expenses.
1000 Cash | 1200 Accounts Receivable | 2000 Accounts Payable | 4000 Sales | 5000 COGS
Real-world example Every transaction in the system posts to an account defined in the CoA.
All 5 Chart of Accounts Setup questions