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How Chart of Accounts Professionals Can Help You

A chart of accounts is a financial accounting tool that provides a list of all the accounts in a company’s accounting system. Each account represents a record of each type such as liabilities, assets, income (revenue) and expenses. A COA establishes the way all transactions are recorded. The COA shows the name of the account, short descriptions as well as any unique identification codes associated with each account. It is the foundation of the accounting system of a company and has the capabilities of adding new accounts and removing old accounts.

Accounting specialists are responsible for performing specialized bookkeeping services. This includes additional accounting and administrative functions. They conduct record keeping, reconciliation of accounts as well as preparing accounting forms. They perform the capturing of functions pertaining to accounts payable, accounts receivable, payroll and other general accounting functions. COA Specialists balance and reconcile subsidiary accounts, processes monetary receipts and payments and conducts audits on transactions. They prepare journal entries and investigate unpaid entries on accounts. Bookkeepers are skilled at establishing a chart of accounts through record keeping of all transactions. Furthermore, they comply with federal, state and local laws. Hire a freelance accounting specialist with the industry experience you need from today!

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Apr. 2018

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