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Education Expenditures Greater Than $100 November 2010 G/L ACCOUNTCLASS5020090000 5020090000 5020090000 5021470000 5021540000 5021540000 5021540000 5030010000 5030010000 5030010000 5030010000 5030010000 5030010000 5030010000 5030010000 5030010000 5032810000 5032810000 5032810000 5032810000 5040490000 5050070000 5051540000 5051540000 5051540000 5051540000CONTRACTUAL
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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
- Accountants and financial professionals to reconcile and analyze financial data.
04
- Government agencies and tax authorities to ensure compliance with accounting and tax regulations.
05
- Auditors and external stakeholders for auditing and reporting purposes.
06
- Individuals or organizations seeking a clear overview of their financial position and performance.
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GL account stands for General Ledger account which is used to record financial transactions in a company. It helps in organizing and categorizing transactions.
Any business or organization that engages in financial transactions is required to file GL accounts.
GL accounts are filled out by recording financial transactions using double-entry bookkeeping. Each transaction is recorded with a debit and credit entry.
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.
GL accounts must report details of each financial transaction including date, description, amount, and account classification.
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