The Liability Chart of Accounts (LCA) is a helpful tool used to track and manage a business’s liabilities. It’s essentially a set of accounts that identify, record, and categorize all the amounts owed by a company. By setting up an LCA, companies can gain better visibility into their outstanding debts and obligations so they know exactly how much money they’re on the hook for at any given time. The information in this chart also provides vital insights into cash flow and budgeting decisions, helping businesses to stay on top of their finances. With an LCA in place, businesses have the information needed to make informed decisions and secure the financial security they need.