CHART OF ACCOUNTS: Explained in (Almost) 2 Minutes!

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The Chart of Accounts (COA) is an organized list of every account held in a General Ledger. You can think of it as an index that categorizes a business's financial transactions into different accounts.

In this video, I’ll break down what it is, why it matters, and show you how it looks in Service, Retail and Manufacturing businesses with three simple examples.

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⏱️TIMESTAMPS
00:00 - Intro
00:10 - What is the Chart of Accounts?
00:24 - What does a Chart of Accounts look like?
01:19 - Example 1: Service Business
02:27 - Example 2: Retail Business
03:19 - Example 3: Manufacturing Business
04:04 - Why is the Chart of Accounts important?
04:10 - Next Steps

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