When we launched Ledgerive, we noticed that most startups were relying on what we called the “QuickBooks Default” chart of accounts (COA). Essentially, this meant listing expenses in alphabetical order, like this:

Advertising, Bank Fees, Benefits, Commissions, Marketing, Contractors, Office Expenses, Payroll Taxes, Salaries, Software, Travel

While this approach works fine when your operations are simple, it becomes inadequate as you grow—especially when you start hiring a team, investing in technology, and scaling your business (as most venture-backed startups do). The “QuickBooks Default” COA simply doesn’t provide the detailed insights you need.

For founders, it’s critical—and expected by investors—to be able to analyze the economics of their startup. For instance, breaking down salaries by department (e.g., Product/Tech vs. Sales vs. Operations) is essential for understanding where resources are being allocated.

That’s why we created an industry-specific startup chart of accounts example and template!