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- So you need a chart of accounts. You dont know what a chart of accounts is. How does it work? How do you set it up? What if everything messes up? Dont worry. Take a breath. Im gonna break it down for you. (upbeat music) Im gonna take you through step-by-step, and even if youve created one before, but never for property management or rentals, Ill offer specific tips and examples, including a sample chart of accounts for a property management company. Or you can go ahead and click the link in the description and download our free chart of accounts template, but Id still recommend watching this whole video to understand how to use it and give you more ideas. With that being said, lets start from the beginning. What exactly is a chart of accounts, and why is having one so important? A chart of accounts is a list of all the different financial accounts that your business uses. This list is all inclusive, meaning it includes every type of financial account, like tracking expenses,
