Скачать или смотреть Bookkeeping Setup: What YOU need to know about the Chart of Accounts

Let's review some critical bookkeeping setup decisions surrounding the chart of accounts when creating and maintaining an Accounting System.

We'll review key knowledge to know about general ledger codes, how transactions work with double entry bookkeeping, how to setup a general ledger code and chart of accounts best practices.

Numbering your chart of Accounts video ➡️    • Rules for Numbering your Accounting System...  

We'll cover the following related to the chart of accounts:
✅ Double Entry Bookkeeping
✅ Debits and Credits
✅ 5 main types of accounts
✅ The natural sign (debit or credit) for accounts
✅ How it impacts financial reporting
✅ Best Practices

What is a chart of accounts?
✅ A chart of accounts list all the general ledger accounts a transaction can be recorded to
✅ It's the list of accounts that make up Assets, Liabilities, Equity, Revenue and Expenses

Watch more Accounting 101 Videos➡️   • Accounting 101 ➡️ Introductory Accounting ...  

Watch more Bookkeeping Videos ➡️    • Bookkeeping Fundamentals  

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Disclosure Disclaimer: The information in this video is provided for general education purposes only and may not reflect changes in federal or state laws. This video is not intended to provide advice. Please consult with a professional advisor about your facts and circumstances

0:00 Introduction
0:40 The Basics of a General Ledger Account
4:36 Recording a Transaction
6:45 Setting up a new General Ledger Account
8:09 Chart of Accounts Best Practices