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  1. Polaris Tax & Accounting
    https://polaristaxandaccounting.com › chart-of-accounts-the-ultimate-guide-with-examples

    Chart of Accounts: The Ultimate Guide with examples

    • As we discussed in our article: Bookkeeping Services for Small Business, the chart of accounts is a listing of all accounts tracked by your business in your accounting software general ledger.… See more

    Why Is The Chart of Accounts Important?

    Think about the chart of accounts as the foundation of a building, in the chart of accounts you decide how your transactions are categorized and reported in your financial st… See more

    Polaris Tax & Accounting
    Chart of Accounts Examples

    In virtually all accounting software, chart of accounts are grouped in a specific numeric range that identifies the type of account and where is reported in the financial statements… See more

    Polaris Tax & Accounting
    Chart of Accounts Contra Accounts

    You will notice in the example above that account code 480 Refunds is listed as a revenue account, but you might ask yourself: isn’t refunds a reduction of sales? Yes, these … See more

    Polaris Tax & Accounting
    What is a sample chart of accounts structure?
    This sample chart of accounts structure allows the business to easily identify accounts and account codes enabling transactions to be posted and the trial balance and financial statements to be prepared. The business should decide what accounting reports it needs and then provide sufficient account codes to allow the report to be produced.
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