What Is a Chart of Accounts — And Why Yours Might Be Sabotaging Your Business

Your chart of accounts is the foundation of every financial report your business produces — and most small business owners have never touched theirs. If QuickBooks set it up for you and you just moved on, there's a good chance your reports are misleading you right now. Here's what a chart of accounts actually is, why the default setup isn't built for your business, and what to do about it.