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The Chart of Accounts is the system of accounts that make up the General Ledger. This begins with our assets starting with the most liquid (cash) and numbered usually as follows.
1000 - 1999: asset accounts
2000 - 2999: liability accounts
3000 - 3999: equity accounts
4000 - 4999: revenue accounts
5000 - 5999: cost of goods sold
6000 - 6999: expense accounts
7000 - 7999: other revenue (for example, interest income)
8000 - 8999: other expense (for example, income taxes)
What else can I help you with?
What is charts of accounts?
chart of account is a chart
In which chart of accounts does property tax belong?
Property Tax goes in the Expense section of the Chart of Accounts
Chart of accounts of a Law Firm?
http://www.google.com/search?q=law+firm+chart+of+accounts
What elements need to be considered when deciding on the numbering and layout of a Chart of Accounts?
the numbering and layout of a Chart of Accounts?
What does the chart of accounts for a retail establishment include?
The chart of accounts for the retail establishment includes Cash and Sales.
Why have a chart of accounts?
its important
Do you have a Sample chart of accounts for logistics?
no
What accounts will only be found in the chart of accounts of a merchandising company?
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On a chart of accounts all asset and expense accounts are in the same division?
FALSE
What Is a listing of all the balance sheet and income-related accounts?
chart of accounts
What is a standard chart of accounts in ngo's?
It does not exist
Must a chart of accounts prepared at the start of every accounting cycle for every financial period?
Generally the answer to this question is no, a chart of accounts does not have to be set up for every financial cycle, usually the chart of accounts is set up in the beginning of the business, when the business is first created, it is updated periodically too allow for new accounts to be added to the chart, but it is not set up each cycle from scratch.
