Establishment of accounts

Establishment of accounts

Establishment of accounts: Preparing and designing the chart of accounts in accordance with accounting standards and preparing courses and documentary forms that correspond to the client’s activity.

Accounts Establishment Services: The first step in building any accounting system is to build a chart of accounts (manual of accounts), which is a statement or statement in which all the accounts of the company are listed. ,

In order to prepare a strong account tree, it is necessary to know the company’s activity, the number of its customers, the number of suppliers, its assets and liabilities, as well as property rights and capital.

Classifying and dividing them into first assets:

Current assets include:

1- cash

2- Inventory

3- Customer accounts

4- Debit balances

Fixed assets include:

1- Lands

2- buildings

3- Machines and equipment

4-Auto

5- Furniture and fixtures

liabilities: Include

1- Short-term commitments: These include:

• checks
• Suppliers

2- long-term commitments

• bank loans
• Bonds
• Deferred tax obligations

Equity and capital

Revenues

• operating income
• Other Income

expenses

• operating expenses
• General and administrative expenses

• We arrange operating expenses and link them to their cost centers.

We also do accounts for depreciation and allocations.

• We also create different names and numbers for all the accounts specified by the company in the chart of accounts, and the possibility of adding any other accounts when needed and preparing and arranging the chart of accounts in an orderly and accurate manner, which facilitates the work of accounting reports quickly and making financial statements for companies, which are represented in the income statement and the list of financial position This also makes the review process easier.