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Accounting All-in-One For Dummies, with Online Practice, 2nd Edition
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Accounting All-in-One For Dummies, with Online Practice, 2nd Edition

by Joseph Kraynak
April 2018
Beginner content levelBeginner
768 pages
20h 9m
English
For Dummies
Content preview from Accounting All-in-One For Dummies, with Online Practice, 2nd Edition

Chapter 2

Outlining Your Financial Road Map with a Chart of Accounts

IN THIS CHAPTER

check Introducing the chart of accounts

check Warming up with balance sheet accounts

check Creating your own chart of accounts

check Grasping the basics of debits and credits

check Getting schooled in double-entry accounting

Can you imagine the mess your checkbook would be if you didn’t record each debit card transaction? If you’re like most people, you’ve probably forgotten to record a debit card purchase or two on occasion, but you certainly learn your lesson when you realize that an important payment bounces as a result. Yikes!

Keeping the books of a business can be a lot more difficult than maintaining a personal checkbook. You have to carefully record each business transaction to make sure that it goes into the right account. This careful bookkeeping gives you an effective tool for figuring out how well the business is doing financially.

You need a road map to help you determine where to record all those transactions. This ...

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Publisher Resources

ISBN: 9781119453895Purchase book