Chart of Accounts Explained | Accounting How To | How to Pass Accounting Class

Chart of Accounts Explained | Accounting How To is an accounting tutorial that starts by answering the question: Chart of Accounts: what is it and how is it used? It provides guidance on how to create a standard chart of accounts (the account listing in accounting). How to set up the chart of accounts is based on the account listing for assets, liabilities, and owners equity or stockholders equity. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of a playlist series called How to Pass Accounting Class. ⏰ Accounting How To Time Stamps 00:00 Hilarious accounting foolishness 😂 00:26 Categories in accounting 00:56 Structure of accounting 01:15 Introduction to Chart of Accounts 01:30 5 Types of Accounts 01:55 Individual Accounts within the 5 Types 02:00 Accounting Buckets with an example 02:30 Different Buckets for Different Types of Businesses 03:30 How to Number Accounts 04:50 Using Chart of Accounts in Accounting Software 07:07 Setting up a Chart of Accounts in Accounting Software 07:54 Using Subaccounts 08:11 Best Practices to Stay of Trouble 🎥 How to Pass Accounting Class Playlist https://www.youtube.com/playlist?list=PLPDomDzptO13nZXwb5-MfyN2POIrUUFyY