The Chart of Accounts contains the current month and year-to-date values for all your store's accounts ( revenue, expense, asset accounts, etc.). You may add accounts, enter values into accounts and reset the chart for each new month or year. Each month the account entries are updated for the month's transactions by "posting" the Journal File to the Chart of Accounts. HOPE then uses the year-to-date asset and liability amounts to create the current Balance Sheet and uses the current revenue and expense account values to create the Profit and Loss Statement for the month.