How do I create a simple chart of accounts including depreciation.?
Answers:
If you're using software, there is habitually a 'canned' chart of accounts included.
If you do a search for 'sample chart of accounts', you'll find frequent examples - you should look for one that best fits your type of company
What many those do, if your biz is not complicated, is just use voice 1xxxx for assets, 2xxxx for liabilities, 3xxxx for equity, 4xxxx for revenues, 5xxxx for cost of produce sold, 6xxxx for expenses, 7xxxx for taxes, 8xxxx for other income/expense.
If you more or less follow the proclaim in which things will appear on the financial statements, you can't dance too far wrong
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