The chart of accounts is a list of all accounts that are debited and credited when financial transactions are posted. Your chart of accounts contains the accounting codes used to categorize your Aria transactions. These codes identify the account affected by a transaction, such as Accounts Receivable or Cash.
Using accounting codes to group transactions within reports makes it easy to generate reports on the various categories of financial activity. It's important to keep in mind that not all organizations use accounting codes in the same manner. For instance, some organizations use the same accounting code for payments and refunds, so that when you total the transactions for that accounting code you get a single net payment amount. Other organizations may prefer to use separate accounting codes for payments and refunds in an effort to maintain separate totals.
Chart of Accounts vs. General Ledger Codes
The chart of accounts is the official set of accounts that makes up the general ledger. General ledger codes can be associated with services and used to identify services in your systems outside of Aria. The chart of accounts lists these codes.