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One of the first things should do in any accounting system is set up the chart because due to multiple requests created a step by step instructions on how to set up a chart of accounts. The creation in establishing an accounts for the property of nature company includes all the different types of accounts like assets, liabilities, equity, revenues and expenses used within the business is your decision as the owner. Think of the accounts as the foundation for financial record starting off on the right foot that will save a thousands of dollars by eliminating rework and having the ability to clearly view of the business performance. A poorly property managing constructed chart of accounts will not allow to see the business operations effectively with several main functions. It happens as a result of one's action in structure where every transaction has an associated account provides a way to share information with bankers, accountants and more that helps with filing the taxes. Guid