I'm starting a new company — how do I set up a proper chart of accounts from day one?

A chart of accounts isn't a quick list of account names — it's the structure every entry and every report will sit on for years to come. The basic approach: clear numbering ranges by account type (say, 1000s for assets, 2000s for liabilities, 3000s for equity, 4000s for revenue, 5000s for cost of sales, 6000s for operating expenses), with organized sub-accounts under each range instead of bolting on new accounts ad hoc whenever one is needed.

The real payoff shows up at VAT filing time: if revenue accounts are split from day one by tax treatment (standard-rated sales, zero-rated sales, exempt sales), and expense accounts follow the same logic (standard-rated expenses, expenses subject to reverse charge), the quarterly return becomes a direct export of numbers instead of a manual reclassification project every three months. RASEEKH designs the chart of accounts for your file from day one, so it stays usable for years rather than needing a rebuild every time the business grows.