Accounting Chart Of Accounts

Accounting Chart Of Accounts. The main account types include Revenue, Expenses, Assets, Liabilities, and Equity. First you'll need to create your blank chart and assign the columns.

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The accounting standards of countries such as the UK, Canada or Australia do not prescribe a particular chart of accounts, so can be considered comparable to IFRS and US GAAP. You can also run a quick report for details. An entity records transactions with a set of codes representing balances by type, expenses by function, and other divisional or organizational codes that are important to its business.

Learn how the chart of accounts works in QuickBooks Desktop.

The chart of accounts lists all your company's accounts and their balances.

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An account number has the following three codes: Division code: The division code is a two-digit code that identifies a specific division within a company. Overview of the Chart of Accounts; Account Mapping Information. A chart of accounts design is only as good as an organization's capability to govern and maintain it over the long term.

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