Chart of Accounts

A chart of accounts is like a business's financial map, organising and categorising all its money-related activities in a systematic way.

A chart of accounts is a comprehensive and organised listing of all the financial accounts used by a business, providing a systematic way to categorise and track its financial transactions.

Think of a chart of accounts as a business's financial filing system—it's like a neatly organised list that helps keep track of all the money coming in and going out.