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The chart of accounts often abbreviated to COA, is the foundation of the double entry bookkeeping system for a small startup business. It is basically a listing of all the accounts found in the general ledger that the business will use to code each of its bookkeeping transactions. This small business chart of accounts template provides an example using some of the most commonly found account names.
The charts of accounts often abbreviated to COA, is the foundation of the double entry bookkeeping system. It’s basically a listing of all the accounts found in the general ledger that the business will use to code each bookkeeping transaction. This sample chart of account provides an example using some of the most commonly found account names.
Take our chart of accounts quiz to check out your knowledge of the chart of accounts used in double entry bookkeeping.
A chart of accounts is a listing of all the accounts in a general ledger. Each account needs to be classified as either asset, liability, equity, revenue, or expense.
