A chart of accounts is a list of accounts for recording and categorizing transactions in a company’s general ledger. It sorts transactions into groups so that you can run reports on them.

Because your company will hopefully grow, you should use three-digit numbers for each account. It is a good idea to leave room for adding new accounts in the numbering system.

The business organization chart is the blueprint for the numbering system in your general ledger, which contains all of the department accounts your business uses. Each general ledger account is ...

Any activity related to HUH or SCHC on Chart D should be recorded using the new accounts for activities occurring on or after January 1, 2018. Revenue and expenditure activity that was not accrued as ...