What is Chart of accounts?
The chart of accounts is the structured list of every account a business posts to: assets, liabilities, equity, income and expenses. Every journal entry lands in one of them, so the chart decides what your reports can tell you.
The chart of accounts is the structured list of every account a business posts to: assets, liabilities, equity, income and expenses. Every journal entry lands in one of them, so the chart decides what your reports can tell you.
In Bangladesh
A chart carried over from a Tally or Excel setup usually needs work before it supports VAT reporting, because input and output tax, and any truncated rate supplies, need accounts of their own to be reportable.
An example
A shop moving from Excel arrives with three accounts: sales, purchases and cash. Rebuilding that into a chart with separate input and output tax accounts is what makes a VAT return preparable from the ledger rather than from invoice files.
In SORS ERP
SORS ERP ships a chart you can extend, with account mapping rules that post sales, purchases, inventory movements, returns and payroll automatically to the accounts you nominate.
Also called
- In Bangla
- হিসাব তালিকা
- Also
- COA
Questions
Answered plainly, including where the answer is no.
Can I change my chart of accounts later?
You can add accounts at any time. Restructuring existing ones after a year of postings is harder, because prior period comparatives move with it, which is why the chart is worth agreeing with your accountant before the first import.
See SORS ERP running on your own numbers
A 30-minute demo in Bangla or English, with your products, your VAT setup and your questions.