Chart of accounts is a general summary of the different categories used in accounting. These accounts are assets, liability, equity, revenue, and expense. Chart of accounts label assets as 1000s, liability as 2000s, equity as 3000s, revenue as 4000s, and expense as 5000s. For example, all asset types (excluding depreciation and contra-assets) are labelled as 1000-1900. Cash 1001, Prepaid expense 1400, Intangibles 1700, etc. Liability accounts such as payables 2100s and accruals 2200s are listed in quickbooks. These labels are important in the software to record invoices, bills, and receipts to properly record financial data. Quickbooks charts, graphs, and tables will reveal the extent of accounts used through the ledger.

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