Would you like to see some behind-the-scenes bookkeeping?
The Chart of Accounts is a list of all of the different categories that a transaction can fall under in the business.
Each business’s chart of accounts looks slightly different, and is tailored to that business’s specific needs.
Usually, an account in a business’s chart of accounts will be one of the following types:
- Assets
- Liabilities
- Equity
- Revenue
- Expenses
For more information, you can check out my book on D.I.Y. Bookkeeping. Chapter 3 is completely dedicated to the Chart of Accounts.
Buy D.I.Y. Bookkeeping on Amazon
Blessings,
Valerie Johnston