The Chart of Accounts Report provides a complete listing of all accounts in the dealership’s financial system, including account numbers, descriptions, types, and key attributes such as split percentages, schedule codes, debit/credit indicators, and control numbers.
The Chart of Accounts Report is primarily used for structure validation, audit preparation, and system maintenance, not for daily transaction review. It’s a foundational report that supports accurate financial reporting and compliance.
When to Use It:
- Account Structure Review: Ideal for verifying account setup and confirming that accounts are correctly classified for financial reporting.
- Audit and Compliance: Used during audits to provide a full account listing and validate account integrity.
- System Setup or Maintenance: Helpful when adding new accounts, updating descriptions, or validating account ranges.
- Financial Analysis Preparation: Ensures account structure is correct before running detailed financial reports.
- Export for External Use: When sharing account lists with auditors, consultants, or for integration with other systems.
Who Uses the Chart of Accounts Report, How Often, and Why
