Current assets are the critical assets that your company utilizes during 12 months and will assumably not be there next year. The accounts that mirror existing assets on the Chart of Accounts are as follows:
This account is used for surplus cash. Any money for which there is no immediate plan is deposited in an interest-earning savings account to earn interest while the company determines what to do with it.
This account is used to follow any cash held at retail stores or in the office. In retail stores, cash must be kept in registers to change for customers.
Little money is often kept around for immediate cash needs that pop up from time to time in the office. This account helps you keep track of the cash held outside a financial institution.
If you offer your products or services to customers on store credit (meaning your store credit system), you need this account to track the customers who buy on your dime.