The foundation of any good accounting system is the chart or list of accounts. A good accounts list will enable you to accurately account for income and expenditure and will assist accounting professionals to report on your financial health. It’s important to make sure that the chart is set up correctly before you begin to record your business data. So where do you start? Knowing what goes into an accounts list is half the battle. To make things a little easier, I am sharing with you, my standard accounts lists for sole traders, companies, trusts and partnerships. They are all free to download.
Today I am sharing my standard accounts lists with you. You can use them as they are or amend them to suit your needs. There is a separate list for each business structure – sole trader, company, partnership or trust. Download them all or just the one that you need for your business type. If you are a business owner, it would be a good idea to show the list to your bookkeeper or accountant before using it, to ensure it will meet your requirements. If you are a bookkeeper, feel free to download all lists and use them with your clients as you see fit.