T-shirts and Calculators: Chart of Accounts by Samantha Aycock
The accounting world is full of jargon- most of which the everyday start-up or new craft brewery may not be familiar with. In today’s blog, we give you a short (yet concise) definition of one term you and your business should be familiar with- chart of accounts.
A Chart of Accounts is essentially just a list of different categories that a business will use to describe it’s transactions. When you set up your business, your accountant will help you design the best chart of accounts for your company. Setting up an accurate chart of accounts when you start your business will give you the organization and simplicity essential to focus on growing your startup.