What's the Story Your Business Tells?

chart of accounts Jun 28, 2022

Each company is unique. Your company is unique. So why use a generic chart of accounts?

Think about the story you want your reports to tell, then structure your chart of accounts, classes of business, items, and everything else that you can possibly configure in the software, to get reports personalized for your
business’s needs.

Some ideas for structuring your chart of accounts and configuring your software:

  • Track multiple revenue streams from product types or client segments
  • Identify key expenses of delivering goods and services to your clients
  • Know your profitability by client, product, revenue source, lead source

The possibilities are endless, so focus on what are the most important factors that ensure your business will succeed. Those factors are what you want to build your record-keeping and reports around.

What’s the story you want to know about your business?

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