Accounting Software
Think of a chart of accounts (COA) as a filing cabinet where all a company’s financial transactions are stored and a complete listing of all the accounts that are currently in use are kept. It is divided between accounts reflected in the balance sheet and income statement and helps keep general ledger data organized in a way to make financial reports meaningful to analysts and investors.
Every business, no matter what industry, needs a chart of accounts. It is the foundation of a good accounting system and essentially functions as the roadmap to a company’s finances. It typically contains the name of the account, the account type, account balance, and a brief description. As opposed to the general ledger, which shows all accounts across a company’s history, a chart of account only shows the currently open accounts.
A chart of accounts indicates all accounts a business owns in the order they appear on the financial statements:
When it comes time to make important business decisions, a current chart of accounts keeps revenue, expenses, and other data neatly organized and gives an accurate perspective on a business’s financial outlook.
Botkeeper provides you with high-grade bookkeeping using human-assisted AI (which we define as Augmented Intelligence) with advanced automation and skilled accountants to manage your books- plus, powerful software to watch your financials. It’s everything a business owner needs to do the bookkeeping—without actually having to DO the bookkeeping.
Ready for the future of accounting? Botkeeper provides automated bookkeeping support to businesses by using a powerful combination of skilled accountants alongside machine learning and artificial intelligence (AI). Our clients receive 24/7 accounting and support as well as incredible insight into their financials with beautiful dashboards and unlimited reporting.
Botkeeper provides bookkeeping to businesses using a powerful combination of skilled accountants and automated data entry through the use of machine learning and AI.