Chart of accounts is the list of predefined names of accounts that a company has identified and made available for recording transactions.
A chart of accounts will likely be as large or as complex as the company itself. An international corporation with several divisions may need thousands of accounts, whereas a small local retailer may need as few as one hundred accounts.
In Numia accounting, the common accounts used across the world for all businesses, have been listed in Default accounts. These default accounts are well enough to enter all the transactions for a small business. If you need more accounts or sub accounts other than the 'Default accounts', then you can create your own accounts by clicking 'Add new' Button at the page.