Charting the Accounts (Part 1)

VISIT OUR  WEBSITE

Charting the Accounts

Can you picture the chaos in your checkbook if you didn't record each check you noted?  You've probably overlooked registering a bill or two on significant payment discharged as a result.

Charting the Accounts

Maintaining the books of a business can be much more complicated than carrying a personal checkbook.

Charting the Accounts

The owner must carefully document each company transaction to ensure it goes into the correct account.

Charting the Accounts

This detailed bookkeeping provides you with a suitable mechanism for calculating how the business is doing financially.

Charting the Accounts

As a bookkeeper, you need a direction to help you resolve where to document all those transactions.

Charting the Accounts

As a bookkeeper, you need a direction to help you resolve where to document all those transactions.

Charting the Accounts

This way of keeping bookkeeping is called the Chart of Accounts.

Charting the Accounts

Starting with the Chart of Accounts

The Chart of Accounts is the management that a business forms to collect its financial transactions. After all, you can't register a trade until you know where to place it in your Chart of Accounts!

Starting with the Chart of Accounts

This chart is a list of all the accounts a company has, arranged in a precise order where each account has a description that contains the type of account and the types of transactions that owner should document into account.

Starting with the Chart of Accounts

This chart is a list of all the accounts a company has, arranged in a precise order where each account has a description that contains the type of account and the types of transactions that owner should document into account.

Starting with the Chart of Accounts

Every company makes its Chart of Accounts based on how the business is operated.

Starting with the Chart of Accounts

Some primary administrative and structural attributes are common to all Charts of Accounts.

Starting with the Chart of Accounts

The organization and structure are planned around two critical financial statements: the balance sheet, which indicates what your company possesses and what it owes,

Starting with the Chart of Accounts

(...) and the income statement, which reveals how much cash your business brought in from sales and how much capital is consumed to generate those sales.

Starting with the Chart of Accounts

Interested in payroll and bookkeeping services? For more inquiries, you may contact us at  737-931-1413  or email us at  info@SimplifiedPB.com.

Schedule Free Consultation

Subscribe to Newsletter