Copyright 2019 - Pfeiffers Accounting & Consulting LLC

In accounting, we always talk about numbers, since numbers is the essence of the language of accounting. This should also be the case when deciding how you want to set up your chart of accounts.  The chart of accounts is an important piece of your accounting structure since this is where you look back to find your account data. If you number it properly, say starting with the bank accounts at number 1000 wih increments of 10 in each category and continue to number 6000, you will be  pretty well set with setting up all of the accounts necessary for your financial data. You will also have room for more if you ever need to add more accounts. Of course, you could just add the account without numbering it. However, it will be much more difficult to find the account you need when searching through reports.  Therefore, numbering the chart of accounts from the beginning is a good route to go.

Pfeiffers Accounting & Consulting LLC BBB Business Review