Charting of Accounts

Keep your chart of accounts in order and expandable for better use.

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

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

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