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Charting of Accounts

Keep your chart of accounts in order and expandable for better use.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

The chart of accounts is the foundation on which you'll build your accounting system. Take care to set up your chart of accounts right the first time. Keep your account descriptions as concise as possible. And leave room in your number system to add accounts in the future.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need