Your Chart of Accounts Should Make Sense
Imagine organizing your kitchen by throwing every utensil into one drawer.
Technically, everything is there.
But finding what you need becomes frustrating.
A Chart of Accounts works the same way.
One of the biggest mistakes we see is schools creating too many accounts—or accounts that only one person understands.
Your financial statements should be simple enough that your leadership team, board members, lender, auditor, and accountant can all understand them.
The details can still be tracked...
They just don't belong on the face of your financial statements.
Good accounting doesn't create more information.
It creates clearer information.
Something to think about:
If a new board member looked at your financial statements today, would they understand them?
If not, let's talk.