What Is The Chart of Accounts & How Many Accounts Should You Have? скачать в хорошем качестве

What Is The Chart of Accounts & How Many Accounts Should You Have?

What is the Chart of Accounts (COA)? How many accounts should your Chart of Accounts have? Does QuickBooks Online have limits on the number of accounts? How do you add an account in QuickBooks Online? How do you change where an account appears in the financial statements in QuickBooks Online? Chris Hervochon, CPA, CVA will cover all of those topics in this video. Website: https://betterwaycpa.com/outsourced-a... Slides: https://docs.google.com/presentation/... Full transcript of this video: https://docs.google.com/document/d/18... Links of interest: Investopedia: Chart of Accounts https://www.investopedia.com/terms/c/... Quora: What does a good use of managerial accounting information look like? https://www.quora.com/What-does-a-goo... Inc: Changes Coming to QuickBooks Subscriptions https://www.inc.com/michelle-cheng/pr... Web: betterwaycpa.com Facebook: facebook.com/soarCPA LinkedIn: linkedin.com/in/ChrisHervochon/ Twitter: twitter.com/ChrisHervochon Quora: quora.com/profile/Chris-Hervochon Instagram: instagram.com/soarCPA/ Pinterest: pinterest.com/soarCPA/ Transcript of Intro: What is the Chart of Accounts? So per Investopedia and Investopedia is a great website if you've never seen it or heard of it, it's a good place for financial information, a good place to find definitions to financial terminology like this but here is their definition: 'A Chart of accounts is a listing of each account a company owns along with the account type and account balance shown in the order the accounts appear in the company's financial statements. "Chart of accounts" is the official accounting term for the display of this information, which includes both balance-sheet account and income-statement accounts.' Now balance-sheet accounts is your assets, liabilities and owner equity accounts and then your income-statement accounts that's your revenue and expenses. So pretty simple, pretty straightforward. All those things, if you've seen prior videos that I've done, all those things they interplay together right? So that's how you create your financial statements. Basically the financial statements are made up of accounts and the Chart of Accounts is just the listing of those accounts, so, simple enough right? So how many should your business have? So if you're doing the bookkeeping for your own business, if you're trying to figure out how to classify things, how much do you tell is enough, how much detail is too much detail?