What is Chart of accounts?
Finance & accounting. A plain-English definition for Australian business owners.
The chart of accounts is the structured list of all financial accounts (asset, liability, equity, income, expense) a business uses to record transactions.
A well-designed chart of accounts produces meaningful management reports without manual rework; a poorly-designed one produces noise. For an SME, the chart of accounts is typically set up by the bookkeeper or accountant and refined annually as the business grows.
In a connected back office this sits with the Finance hub, where Valont runs bookkeeping, managed payroll and bas & tax compliance for Australian SMEs as one team. The full definition set is on the glossary.
Talk to an Advisor
General information, not advice. For how this applies to your business, talk it through with a Trusted Advisor or start with the Business Health Check.