Chart of Accounts

what is the chart of accounts?

What is the Chart of Accounts?

The Chart of Accounts is the complete list and layout of the ledger accounts used by a business

Ledger account categories include asset, liability, equity, revenue and expense types. Sub categories further classify these types.

Accordingly, each ledger account has a number. This number is a sequential code so the type, category or sub-category of account is clear.

The image on this page shows a MYOB accounting software Chart of Accounts, tailored to a model business called Clearwater.