chart of accounts
Financial category list
A chart of accounts is the complete list of accounts used in a business's bookkeeping system, organized by category—assets, liabilities, equity, revenue, expenses.
Each account has a name and number for reference.
The chart provides the framework for recording all financial transactions: We need to add a new expense category to the chart of accounts.
Master accounting record
- ledgerFinancial record book
- financial statementsFormal records of transactions
- balance sheetAssets-liabilities-equity report
- income statementPeriodic profit-loss report
assets · liabilities · equity · revenue · expenses · cost of goods sold · retained earnings · debit
general ledger
Master accounting record
- ledgerFinancial record book
- financial statementsFormal records of transactions
- balance sheetAssets-liabilities-equity report
income statement · assets · liabilities · equity · revenue · expenses · cost of goods sold · retained earnings · debit · credit
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- accountingbookkeeping, ledger, balance sheet, general ledger, auditing
- business accountingaccountant, accrual, balance sheets, bookkeeping, balance sheet
- economic vocabularytrade terms, credit terms, payment terms, net income, retained earnings
- Accounting SoftwareQuickBooks, general ledger, payroll software, Sage, SAP
- Accounting Toolscalculator, ledger, spreadsheet, general ledger, balance sheet
chart of accountsbalance sheet
Assets-liabilities-equity report
income statement · financial statements · cash flow statement · profit and loss statement · trial balance
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