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Education Expenditures
Greater Than $100
November 2010
G/L ACCOUNTCLASS5020090000
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5021540000
5021540000
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5030010000
5030010000
5030010000
5030010000
5032810000
5032810000
5032810000
5032810000
5040490000
5050070000
5051540000
5051540000
5051540000
5051540000CONTRACTUAL
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How to fill out gl account
01
To fill out a GL account, follow these points:
02
Identify the correct GL account number for the transaction.
03
Determine the type of transaction being recorded, such as revenue, expense, asset, or liability.
04
Enter the transaction amount in the appropriate column (debit or credit) based on the account type and nature of the transaction.
05
Provide a brief description or reference for the transaction.
06
Ensure the GL account is properly balanced for each transaction by ensuring the total debits equal the total credits.
07
Review and verify the accuracy of the GL account entries before finalizing.
08
Store and organize GL account records for future reference and auditing purposes.
Who needs gl account?
01
GL account is needed by various entities and individuals, including:
02
- Businesses and corporations to track and manage their financial transactions.
03
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04
- Government agencies and tax authorities to ensure compliance with accounting and tax regulations.
05
- Auditors and external stakeholders for auditing and reporting purposes.
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- Individuals or organizations seeking a clear overview of their financial position and performance.
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What is gl account?
GL account stands for General Ledger account which is used to record financial transactions in a company. It helps in organizing and categorizing transactions.
Who is required to file gl account?
Any business or organization that engages in financial transactions is required to file GL accounts.
How to fill out gl account?
GL accounts are filled out by recording financial transactions using double-entry bookkeeping. Each transaction is recorded with a debit and credit entry.
What is the purpose of gl account?
The purpose of GL account is to provide a complete record of a company's financial transactions and to help in the preparation of financial statements.
What information must be reported on gl account?
GL accounts must report details of each financial transaction including date, description, amount, and account classification.
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