Chart of Accounts

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The chart of accounts is where all the financial transactions from the General Ledger are organised. These accounts are then use to enable the creation of financial statements.

The chart is generally listed in the following order:

Balance Sheet Accounts

  • Assets
  • Liabilities
  • Owners Equity

Profit and Loss accounts (income statement)

  • Revenue accounts
  • Expense accounts

Example Chart of Accounts


Business Bank Account
Business Savings Account
Accounts Receivable (Trade Debtors)
Office equipment (Furniture and Fittings)
Less Accumulated Depreciation on Office equipment
Computer Equipment
Less Accumulated Depreciation on Computer equipment