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It also includes account type definitions along with examples of the types of transactions or subaccounts each may include. Though most accounting software products set you up with a standard COA or let you import your own, it’s a good idea to have an accountant scan it and add any other accounts that are specific […]

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This is posted to the Common Stock T-account on the credit side (right side). Checking to make sure the final balance figure is correct; one can review the figures in the debit and credit columns. In the debit column for this cash account, we see that the total is $32,300 (20,000 + 4,000 + 2,800 […]

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