He account plan It is a list that presents the accounts needed to record accounting facts . This is a systematic ordering of all accounts that are part of a system accountant .
To facilitate the recognition of each of the accounts, the account plan is usually encoded . This process involves the assignment of a symbol, which can be a number, a letter or a combination of both, to each account.
He mnemonic system most common to code an account plan is the decimal number , which allows unlimited groupings and facilitates the task of adding and inserting new accounts. For example: 1 Assets, 1.1 Current assets, 1.2 Non-current assets, 1.1.1 Cash and banks, 1.1.2 Current investments.
Generally, the account plan is complemented by a account manual , which presents the necessary instructions for the use of the accounts that are part of the accounting system.
The account plan, in short, provides a basic structure for the organization of the accounting system, so it appears as a means to obtain information In a simple way. An account plan must meet several requirements, such as homogeneity, integrity (must present all necessary accounts), systematicity (must follow a certain order) and flexibility (must allow the addition of new accounts).
On the other hand, it is important that, when preparing an account plan, a clear terminology to designate each account and split from the general to the particular.
The account plan, its purposes and procedures
Between the purposes of an account plan we can mention:
* The contribution to compliance of the objectives set by accounting.
* The expression of all the information concerning the objectives.
* The facilitation of control of all income and expenses.
* The provision of accounting records that facilitate the imputation.
To properly realize an account plan they must systematized in an orderly manner the data, with a flexibility that allows us to add new accounts in the future; In addition, it should be done with sufficient clarity to allow other users to understand what has been embodied in them.
It should be borne in mind that the fundamental purpose pursued in this type of document is facilitate reading of the characteristics of each account. In addition, many systems are provided with a skeleton that allows them sort the different data and group them, taking into account the coding that distinguishes each of them.
There are some concepts whose understanding may be extremely necessary to understand the way in which account plans are developed .
Availability: They refer to the stock both money, such as checks, bank deposits and everything that may have the particularity of being true, cash or liquid.
Credits: It's those rights that the company has about third parties and that allows you to receive certain sums of money, private services or goods. Remember that those credits that come from benefits performed on certain activities of the company they must be exposed in a particular way, separated from the rest of the operations and must be presented separately from common debtors and documented debtors.
Exchange realty: They refer to those goods that are obtained from the sale or commercialization of goods produced by the company itself.
Fixed assets: This classification includes all those elements that are used to carry out the main activity of the company; the same must have a useful life of more than one year and should not be intended for sale. Real estate, vehicles and furniture that are involved in the production process are fixed assets.
Intangibles: Are those goods that are company representatives and that they can give you some kind of privilege with a potential to generate profits in the future. Within this classification include patents, key value, brand, etc.