Definition
A well-designed chart of accounts is the foundation of useful reporting. Too many accounts, and reports become noise. Too few, and you can't answer the questions you actually need to answer. We frequently redesign clients' charts of accounts during onboarding.
When It Matters
When setting up a new accounting system, when reports stop being useful, or when cleaning up a messy QuickBooks file.
Related Services
Common Questions
How many accounts should I have?
Enough to answer the questions you care about, and no more. We routinely cut clients' chart of accounts in half during cleanup — and the resulting reports get easier to read.
R RELATED TERMS
QuickBooks
Class Tracking
A QuickBooks feature that lets you tag transactions with a 'class' to track performance by department, location, or business line.
QuickBooks
QuickBooks ProAdvisor
An accountant or bookkeeper certified by Intuit in QuickBooks setup, training, and troubleshooting.
QuickBooks
Reconciliation
Comparing your accounting records against an outside source — usually a bank or credit-card statement — to confirm they agree.