Chart of Account

Chart of account is account codes and account names to be used to record transaction journal. This blog does not discuss various types of chart of accounts theory. This blog will only explain an ideal chart of account based on experience or practice and is very useful for user at the clerical level. As you know, day to day activities related with chart of account mostly used by user, in this case, employee at the clerical or staff level. At the supervisory or managerial level, chart of account is very important also, but they never involved directly in the daily recording transaction journal as the clerical staffs do. In addition, at the supervisory level and above, user usually are able to understand accounting system easily so that they can remember the account code without using any supporting tool.