The Chart of Accounts feature is located under the Banking menu bar.

A chart of accounts (COA) is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts as needed. The COA is categorized in the following way:

Balance Sheet Accounts: Assets, Liabilities, Owner’s (Stockholder’s) Equity

Income Statement Accounts: Income, Cost of Goods Sold, Expenses, Other Income, and Other Expenses.

Adjusting Journal Entries

By |2021-07-26T08:30:35-05:00April 28th, 2020|

Introduction This advanced topic explains Journal Entries. They are also known as Adjusting Journal Entries or AJE for short. In traditional accounting, a record of a transaction in which the total amount in the Debit column equals the total amount in the Credit column, and each amount is assigned to an account on the chart

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Chart of Accounts List

By |2021-07-23T09:25:28-05:00July 26th, 2019|

Introduction The Chart of Accounts List is used to manage your financial accounts. Accounts are used to record and summarize the increases, decreases, and balances of each asset, liability and owner's equity items (like accounts receivable, accounts payable, and retained earnings).  Financial accounts track your business transactions. New accounts may need to be created as

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Chart of Accounts

By |2021-07-22T11:23:55-05:00March 23rd, 2018|

Introduction The Chart of Accounts displays the account number, name of the account, type (expense, income, asset, payable, etc.) and a description of what the account would be used for. Accounts are used to indicate and summarize the increases or decreases to the balances of each asset, liability, and owner's equity-type items. These can include

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