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Tag Archives: chart of accounts

5 Main Chart of Accounts Categories

Business Management, Financial ManagementBy Sherrell T MartinJune 18, 2013Leave a comment

Last week I talked about the importance of using account numbers.  One of the main reasons is that it creates structure and allows you to group your transaction based on the five main categories of accounting. There are five main chart of account categories that are the foundation of an accounting numbering system.  These five categories…

Why Using Account Numbers is Important

Business Management, Financial ManagementBy Sherrell T MartinJune 12, 2013Leave a comment

I was recently working on a clients books and noticed that they didn’t use account numbers.  And I asked them why, they didn’t have any reason.  They simply replied “Why do I need them?” The Chart of Accounts is the framework to your reporting system in your business.  This framework is a complete list of…

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