Critical Chart of Accounts Best Practices
Although some accounting gurus jump at the chance to improve their existing Chart of Accounts, others don’t even know how to start. Whether you’ve been down this road before or you’re a total novice, the task takes time, effort and intelligent planning. Here’s everything you need to know to engineer a chart of accounts that scales with your organization and helps you succeed. What makes an impactful COA? Organizational leaders, procurement managers and accountants have different definitions of best practices. Most agree, however, that augmenting standard accounting principles with enterprise-specific items is key. Try to establish parity between your chart […]
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