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Chart of Accounts

Chart of Accounts is a complete list of all the company’s accounts and balances.

QuickBooks Desktop automatically create your chart of accounts based on the industry and type of company  you choose. Chart of accounts track how much money your company has, how much money it owes, how much money is coming in and how much money is coming out. You can also check record account opening balance if you just created your file and you need to enter opening balance.

Detailed Information
Accounts that QuickBooks set up for you

When you create a new company file, QuickBooks will require you to select a type of company and that will determine the Chart of accounts that the company file will begin with. However, there are some accounts that the program will automatically create regardless of the company type selected.

Common Processes under Chart of Accounts
KB ID# INF13095
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