Accounting
Chart of accounts
The organized list of every account used to categorize a company's income, expenses, assets, liabilities and equity.
Each account has a number and a type, such as 4000 Rent income or 6100 Repairs. Every charge, payment and bill is coded to an account, which is how reports like the income statement and balance sheet are built.
A consistent chart of accounts across properties makes portfolio reporting and owner comparisons possible. Adding accounts carelessly leads to miscoded transactions and reports that nobody trusts.
See it on a sample company