The chart of accounts (COA) is a listing of the general ledger account names and identification numbers arranged in the order in which they customarily appear in financial statements. It can also include a description of what should be included in each account. The COA is a key accounting tool used for transaction processing, accounting activities, reconciliations, and financial reporting. Fewer COA Accounts are BetterWhen considering your chart of accounts (COA), fewer is always better.