What is a chart of accounts?

What is a chart of accounts (SKR)?

All business transactions in a company are recorded in the accounting system using general ledger accounts.

Therefore, first clarify with your tax advisor which standard chart of accounts (SKR) you should use for your accounting. A standard chart of accounts comprises a specific compilation of various general ledger accounts, which can vary depending on the operational application.

SKR03 and SKR04 are the two most common charts of accounts. However, there are also many other industry-specific charts of accounts for which your tax advisor can assist you.

Our system is set to SKR03 by default.

Which general ledger accounts are already pre-configured in our system and how you can edit them is explained in the following articles.