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Creation of Chart of Accounts

The chart of accounts for a small business is a plan. It is an index of all the accounts where the company files away its financial information. The chart of accounts is a listing of all the company's account names and numbers where it records its financial transactions. When you start a new business, you set up your chart of accounts as a first step in establishing your company's accounting system. Our dedicated team understand that business situations fluctuate due to growth or seasonality, therefore we create your chart of accounts then we review your account quarterly for optimal efficiency.

Typical accounts found in the chart of accounts are:

  • Assets

  • Liabilities

  • Stockholders' Equity

  • Revenue

  • Expenses