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SUBJECT:GENERAL LEDGER CHART OF ACCOUNTS OPERATING EXPENSES 1.PURPOSE: To establish definitions for the Operating Expense section of the City University of New York (PUNY) General Ledger Chart of
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General ledger chart of accounts is a complete list of all the accounts used by a company to categorize financial transactions.
All businesses and organizations that engage in financial transactions are required to maintain and file a general ledger chart of accounts.
To fill out a general ledger chart of accounts, you need to categorize all financial transactions into specific accounts based on their nature and purpose.
The purpose of a general ledger chart of accounts is to organize and classify financial transactions in a systematic and logical manner for reporting and analysis.
The general ledger chart of accounts must include all accounts related to assets, liabilities, equity, revenue, and expenses.
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