Account Code

Mike or Penny Novack stepbystepfarm at mtdata.com
Wed Jun 13 17:34:44 EDT 2012


>>The account codes are quite optional, you just put the name of the
>>account in the transfer column.
>>I'm sure someone will fill us in on how to use Account Codes properly.
>>    
>>
1) Unlikely you'd need these for personal books.

2) Some jurisdictions not only require them but specify how to be used 
(France, I believe does this)

3) But to give a more practical example. Suppose you are the treasurer 
presenting your report to your organization. Isn't it going to be useful 
to be able to say "look at 4013" than "look at Speaker Fees" (an income 
account). That assumes you have assigned numbers in some logical 
fashion, perhaps all income items have a first digit of "4", the first 
income parent group a second digit of "0", etc. You know roughly where a 
particular account would appear in the report, they don't.

Michael


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