Keeping track of the chart of accounts can be a stressful task not to mention time consuming. But how do you make determinations for which expense goes into which account and what about sales discounts, returns, and what about PPE?
At SYVERTSEN ACCOUNTING LLC we can manage your books for you, allowing you to have instant visibility into your business' finances, and the ability to make informed decisions.
A basic chart of accounts outline looks like this:
- ASSETS
- RECEIVABLES
- INVENTORIES
- PREPAID EXPENSES & OTHER CURRENT ASSETS
- PROPERTY PLANT & EQUIPMENT
- ACCUMULATED DEPRECIATION & AMORTIZATION
- NON – CURRENT RECEIVABLES
- LIABILITIES
- PAYABLES
- ACCRUED COMPENSATION & RELATED ITEMS
- ACCRUED TAXES
- LONG-TERM DEBT
- OWNERS EQUITY
- REVENUE
- COST OF GOODS SOLD
- OPERATING EXPENSES
And these are just categories. Working with an experienced bookkeeper can save you time and money.
