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Chart Of Accounts

Greg Stevens
09-29-2021
Tags: accounting, Chart Of Accounts, COA, Setup, Training

 

The Chart of Accounts is the “backbone” to your accounting system.  Accounts are used as the“buckets,” where amounts are captured and reported on.  These may have been imported into your system from QuickBooks or another accounting system.  NOW is a good time to review your COA and make changes, if necessary.

 

Chart of Accounts

 

  

Procedural Recommendations

              1. Who is in charge of maintaining and making changes to the COA?  Very few people should be able to make changes.
              2. Make sure you check with your accountant before making wholesale changes to your COA.