Number of Accounts in the Chart of Accounts

Published On:
May 17, 2023
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The Chart of Accounts (COA) is a key accounting tool used for transaction processing, accounting activities, reconciliations, and financial reporting. A COA with too many accounts can create headaches for finance teams. It leads to more review time, more reconciliations, additional system maintenance, and greater chances for coding errors to occur. After reviewing cross-industry data on the number of accounts that organizations tend to have in their COA, APQC highlights some of the challenges of an oversized COA and provide guidance for how leading organizations trim and prevent excess accounts.