Chart Of Accounts

A Chart of Accounts (CoA) is the structured foundation of a company’s financial system. It is a categorized list of all accounts used to classify and record every financial transaction within a business. These accounts typically fall under five major categories: Assets, Liabilities, Equity, Income, and Expenses.

Each account in the CoA represents a specific element of the company’s financial structure—such as cash, revenue from sales, payroll expenses, or accounts payable—and plays a critical role in producing accurate financial reports like balance sheets and income statements.

🧩 How COUNT Uses the Chart of Accounts

In COUNT, the Chart of Accounts is more than a reference—it’s tightly integrated throughout the system to maintain consistency and control over financial classification. Specifically, accounts from the CoA are applied directly to:

• Bill line items – to categorize the expense type for accurate payable tracking.
• Invoice line items – to associate revenue with the appropriate income account.
• Transactions – to log entries that affect financial balances.
• Products and services – to map sales and cost accounts automatically during billing and fulfillment.

By standardizing financial categorization at every level, the Chart of Accounts ensures that COUNT users maintain clean books, generate accurate reports, and stay compliant with accounting best practices.