A Chart of Accounts List, also known as a General Ledger Chart of Accounts List, is an organized list of all the financial accounts used to track and record accounting transactions within an organization. This list can include income accounts such as Sales and Expense accounts such as Rent or Utilities. The chart of accounts allows each account to be identified and tracked easily. Having a properly constructed chart of accounts is essential for both internal reporting and tax filing purposes. By centralizing all financial accounts in one place, businesses are able to make informed decisions about their financial position and gauge their performance over time.