Chart of AccountsIf you're numbering your chart of accounts, follow the conventional logic of:
1xxx account numbers for assets
2xxx account numbers for liabilities
3xxx account numbers for equity
4xxx account numbers for income
5xxx and beyond account nubers for expenses
Organize your chart of accounts so the trial balance will print in account number order. Don't change account descriptions. Our financial statements are driven by account number. If you change the description for an account (or re-use an old account number), it creates a disconnect.
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