Design or clean up a chart of accounts
Produces a structured, right-sized chart of accounts with numbering, mapping from the old one, and rules to keep it from sprawling again.
The prompt
Help me design or clean up a chart of accounts.
Business and industry: [WHAT IT DOES, how it makes money]
Size and complexity: [revenue range, number of entities, locations, departments]
Reporting needs: [e.g. "P&L by location", "gross margin by product line", "grant tracking", "lender covenant reporting"]
Framework and tax regime: [US GAAP / IFRS, country, entity type]
Current chart of accounts: [PASTE, or "starting from scratch"]
Accounting software: [e.g. QuickBooks Online, Xero, NetSuite - and whether it supports classes, tracking categories, or dimensions]
Principles to apply:
- Use accounts for what the transaction is; use classes/departments/locations for where it happened. Don't create "Rent - Store 1", "Rent - Store 2".
- Group accounts so the statements roll up cleanly (assets, liabilities, equity, revenue, COGS, operating expenses, other income/expense).
- Keep enough detail for tax return lines and lender reporting, and no more.
- Leave numbering gaps for future accounts.
Return:
1. The proposed chart: Number | Account name | Type | Detail type/tax line | Notes.
2. Which dimensions (class, department, location, project) to use instead of extra accounts.
3. If I gave a current chart: a mapping table (Old account -> New account | Action: keep / merge / rename / inactivate) and the risks of merging accounts with history.
4. Five rules for adding new accounts in future.
Flag tax-line mapping as [CONFIRM WITH TAX PREPARER].
Highlighted [brackets] are blanks to replace with your own details.
Fill in the blanks and use this promptMore Finance & Accounting prompts
What to fill in
- WHAT IT DOES, how it makes money
- revenue range, number of entities, locations, departments
- US GAAP / IFRS, country, entity type
- PASTE, or "starting from scratch"
- CONFIRM WITH TAX PREPARER
How this prompt is built
This prompt follows the Few-Shot structure (Few-shot prompting). A few-shot prompt includes one or more worked examples of the input and the output you want, so the model can copy the pattern instead of guessing it.
Related prompts
- Build a budget vs. actual variance analysis in ExcelSets up a budget vs. actual sheet with correct variance formulas, favorable/unfavorable logic, materiality flags, and a YTD view.
- Reconcile a media invoice against the insertion order and deliveryA line-by-line check of a vendor invoice against the IO and ad server data, with discrepancies, makegoods, and a dispute note.
- Build a profit-and-loss estimate for a book acquisitionA title P&L that tests the advance, print run, pricing, and royalties to show the break-even point and whether an offer makes sense.
- Prepare a progress billing pay application with retainageA schedule of values and monthly pay application that matches work in place, handles retainage and stored materials, and avoids rejection.