[header] How to understand and set up a general ledger [title] Establish the type of chart of accounts you wish to use. [step] This may be one of the sample charts provided with your software, or you may wish to modify an existing chart or enter a new chart from scratch. If you are not qualified to decide the best approach consult with your accountant.
[header] How to understand and set up a general ledger [title] Establish the type of chart of accounts you wish to use. [step] This may be one of the sample charts provided with your software, or you may wish to modify an existing chart or enter a new chart from scratch. If you are not qualified to decide the best approach consult with your accountant.
[title] Keep accurate records as accurately as possible. [step] Make sure every record you have remains in a format that remains true to normal organization, with easy access to it and many convenient retention procedures. Remember that you can always add more chart of account codes in the future. Later on you can also remove chart codes that you have never used. [title] Develop a general ledger-like palette of data. [step] You will want to help design the ratios for accounts you plan to use. [title] Obtain the asset identification number (ssdi). [step] The ssdi will determine the proper and required identifier for your company.