Set up a chart of accounts
A chart of accounts is a set of main accounts that Dynamics 365 Finance tracks. The chart of accounts captures financial information to help organizations make good financial decisions. Finance assigns each account with an account number as a unique identifier.
Each main account contains the account structures that the chart of accounts uses to define the valid combinations of main accounts and financial dimension values.
Each chart of accounts is shared and contains the list of main accounts to use for each legal entity, known as a ledger. The General ledger > Ledger setup > Ledger page holds the chart of accounts, which organizations use with the account structures, accounting and reporting currencies, default exchange rate types for accounting, reporting and budget, and the accounts for realized and unrealized gain and loss for a given legal entity.
The organization can set up allocation terms for an account to distribute the amount to several accounts and account-dimension combinations, and system accounts help users handle automatic postings.
You must set up the following components when setting up the chart of accounts:
Accounts
Dimensions
Structures