Chart of accounts
Also known as: COA
The chart of accounts is the organized list of every account a business uses to categorize its transactions.
Accounts fall into five types: assets, liabilities, equity, income, and expenses. The chart of accounts names them and gives each a number, forming the structure that every journal entry posts into.
A well-designed chart of accounts makes reports meaningful: group the right accounts and your Profit & Loss and Balance Sheet read clearly.