A COA is a list of the account names a company uses to label transactions and keep tabs on its finances. You use a COA to organize transactions into groups, which in turn helps you track money coming in and out of the company. COAs are typically made up of five main accounts, with each having multiple subaccounts.

Common Bookkeeping Responsibilities Document and categorize transactions, including income and expenses. Manage a company's finances via business accounting software, such as QuickBooks or Xero. Assess a company's cash flow. Prepare financial statements, such as balance sheets and profit and loss statements.