Chart of accounts

The chart of accounts is a list of every account in the general ledger of an accounting system and is used to record transactions in the fiscal year.

General ledger accounts are the place where all financial transactions of a business are categorized. Each account has a ledger showing details of money received or spent.

Learn about the Chart of Accounts 👇 What is the Chart of Accounts? The Chart of Accounts is a list of your General Ledger (GL Accounts) that make up your… | 32 comments on LinkedIn

Every business needs to have a list of chart accounts. With that, if you still don't have one, here are some examples you can take into consideration in terms of your business accounting! #chartsofaccounts #accounts #business

The Journal is the basis of the accounting system, In Journal we record all day to day transaction of business. For journalizing all day to day transaction of the business we have to use the Golden Rules of Accounting: -. 1. Real Accounts: - Debit: What comes in, Credit: What goes out, 2. Personal Accounts: Debit:- The Receiver, Credit: The Giver, 3. Nominal Accounts: Debit:- All Expenses and Losses, Credit:- All income and gains

Accounting Equation Chart (Cheat Sheet)

Using a restaurant industry standard chart of accounts is one of the smartest things an independent operator can do. An industry standard chart of accounts will give you financial information in a much more useful format and enable you to compare your P&L numbers with other restaurants. Also included is a detailed Cost Coding Guide that will help you determine where nearly every type of cost you incur should be charged.