DTAS09E17 - How to Set Up a Ledger and Chart of Accounts for your Startup Business (Step-by-Step Guide)

Digital Transformation Academy Podcast

Starting a new business and not sure how to set up your ledger and chart of accounts? In this video, I break down a step-by-step guide to help you set up your first business ledger, whether manually or using a spreadsheet. We’ll cover how to properly categorize assets, liabilities, equity, income, and expenses, as well as how to set up your beginning bank or cash balances against your equity. Plus, learn how to account for pre-operating transactions and handle beginning balances for an already operating business.

If you’re a startup business owner or entrepreneur looking to get your finances organized and set a strong foundation for your accounting, this is the video for you! 📊✏️

Download my free chart of accounts template here: https://dennismhilario.com/wp-content/uploads/standard-chart-of-accounts.zip

🔔 Don’t forget to LIKE and SUBSCRIBE for more practical business tips and accounting guides to grow your business!

Highlights

Intro: Setting Up Your First Ledger & Chart of Accounts

Understanding the Chart of Accounts: The Basics

Your First Entry: Bank or Cash Balance Against Equity

How to Record Pre-Operating Transactions

Setting Up Ledger Balances for an Operating Business

Final Thoughts and Tips

Accounting Starter Digital Course - https://dennismhilario.com/accounting-starter-digital-course-2/

HR Starter Digital Course - https://dennismhilario.com/hr-starter-digital-course/

Inventory Management & Costing Accounting Digital Course - https://dennismhilario.com/inventory-management-digital-course/

A Small business guide to digital transformation ebook - http://dennismhilario.com/dxebook

Private Coaching - https://dennismhilario.com

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