COMO ESTRUCTURAR UN CATALOGO DE CUENTAS

Summary

In this video, the presenter guides viewers on how to structure a chart of accounts, a key component for accurate accounting in a business. The chart is essential for organizing accounts and ensuring proper record-keeping of financial transactions. It includes six main categories: assets, liabilities, equity, revenues, costs, and expenses. The process involves classifying accounts, defining subcategories, and detailing account components. The video also highlights practical tips on working with accounting software and how to adjust the structure for various business needs, ensuring a smooth setup in accounting systems.

Takeaways

• 😀 A chart of accounts is essential for organizing accounting entries in a professional accounting system, not just for educational purposes.
• 😀 A chart of accounts is a collection of all the necessary accounts to manage a company's financial transactions, as described in the 2017 edition of 'Practical Accounting' by Angélica Aguilar Lámbarri.
• 😀 It is crucial to understand the operations of an entity before creating a chart of accounts, ensuring that policies are set accordingly.
• 😀 A chart of accounts is structured in levels, starting with main categories like assets, liabilities, equity, income, expenses, and costs.
• 😀 Accounts within each category (like assets) are further subdivided into classifications such as current vs. non-current assets.
• 😀 Classifying accounts by their nature, such as cash and bank accounts being grouped under current assets, is essential for effective management.
• 😀 Subaccounts or components (e.g., different types of cash accounts or bank accounts) are used to break down categories even further for more detailed tracking.
• 😀 The structure of a chart of accounts can vary by business needs, including further sub-classifications like clients in national or foreign currency.
• 😀 Every subaccount within the chart of accounts needs a clear identification code, which follows a numbering system that reflects the hierarchical structure.
• 😀 Preparing a chart of accounts in Excel before inputting it into accounting software helps avoid issues with system limitations and ensures a proper structure from the beginning.

Q & A

What is a catalog of accounts and why is it important in accounting?

A catalog of accounts is a structured list of necessary accounting accounts that help manage and record business operations. It is essential for organizing financial transactions and ensuring the accuracy of accounting entries in a professional accounting system.

How is a catalog of accounts structured?

A catalog of accounts is typically structured in levels. The first level represents main classifications like assets, liabilities, capital, revenues, costs, and expenses. These are further divided into sublevels, with more specific accounts detailing different financial components.

What are the main classifications of accounts in the catalog?

The main classifications in a catalog of accounts are: assets, liabilities, capital, revenues, costs, and expenses.

How do assets get classified in a catalog of accounts?

Assets are classified into two main categories: current assets (circulating assets) and non-current assets (non-circulating assets). Current assets include cash, banks, short-term investments, receivables, and inventory, while non-current assets include properties, machinery, and long-term investments.

What is the role of subaccounts or components in a catalog of accounts?

Subaccounts or components break down major accounts into more specific categories, which helps in detailed tracking and management of financial data. For example, a 'cash' account might be subdivided into 'national currency' and 'foreign currency,' and further into 'general cash' or 'branch-specific cash'.

How does the structure of a catalog of accounts affect accounting systems?

The structure of the catalog influences the design of the accounting system by determining how accounts are categorized, numbered, and managed. Properly structuring the catalog helps in aligning the system's capabilities with the specific needs of the business, such as handling different types of currency or client classifications.

Why is it important to plan the catalog of accounts structure before using an accounting system?

Planning the structure in advance ensures that the catalog fits the needs of the business and avoids complications later on. If not properly structured, the system may limit the number of subaccounts, leading to confusion or the need to reconfigure the system.

What are the challenges faced when creating a catalog of accounts?

The main challenges include determining the appropriate classifications, ensuring that the structure can accommodate the company's specific needs (such as handling multiple currencies or branches), and managing the complexity of the catalog, especially for large businesses with many transactions.

How do you classify expenses in a catalog of accounts?

Expenses are classified into various categories, such as operating expenses, cost of goods sold, and administrative expenses. These can be further broken down into more detailed accounts based on the specific costs the company incurs.

What is the significance of coding accounts in the catalog of accounts?

Each account is given a code that reflects its position in the hierarchy, helping to identify and organize it within the system. The code indicates the account's classification, subclassification, and position, making it easier to manage and reference financial data accurately.