A Chart of Accounts (COA) is a system used by individuals and businesses to organize finances and classify assets, liabilities, income, and expenses. The COA is a comprehensive list of every financial account in an individual or business’s accounting system. It serves as a reference point for tracking all money coming in and out of the organization, and provides valuable insight into a company’s financial standing. It also makes taxes easier to calculate and prepare. Having an organized COA is essential for any business, big or small, that wishes to keep track of its financial activity accurately.