The Account Category List (ACL) is a formal record of the various types of accounts that have been established within an organization. It is used to categorize and manage various types of accounts, such as sales, expenses, investments, cash, liabilities, etc. This list helps to assign responsibilities to different team members and ensure accuracy when tracking financial data. An effective ACL also provides clarity and insight into how each account category contributes to overall business performance. By regularly reviewing the categories in the list, organizations can identify areas where increased focus or resources may be needed.