{"id":12294,"date":"2020-11-27T15:53:34","date_gmt":"2020-11-27T20:53:34","guid":{"rendered":"https:\/\/quadranslawandfinance.com\/?p=12294"},"modified":"2020-11-27T15:54:53","modified_gmt":"2020-11-27T20:54:53","slug":"this-is-how-accounting-accounts-are-classified","status":"publish","type":"post","link":"https:\/\/quadranslawandfinance.com\/en\/blog\/this-is-how-accounting-accounts-are-classified\/","title":{"rendered":"This is how accounting accounts are classified"},"content":{"rendered":"<p>An accounting account is a record where all the transactions that are generated within a company (income and expenses) are detailed. \u00a0This tool allows you to have control over the distribution of resources and assets generated by your business, thus avoiding future losses and improving the financial performance of your company.<\/p>\n<p>&gt;You may also be interested in our entry: <a href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\">Importance of accounting books for companies<\/a><\/p>\n<p>Keeping your accounting accounts in order will make your business grow, which is why it is important to have the professional advice of an accountant.<\/p>\n<h2 style=\"text-align: center;\"><strong>Classification of ledger accounts<\/strong><\/h2>\n<p><strong>Real accounts<\/strong><\/p>\n<p>In this type of account, the assets, rights and obligations of the company are recorded, that is, assets, liabilities and capital. \u00a0Among other words they represent what your company really has and what it owes. \u00a0At the end of the accounting period they will be reflected in the balance sheet of your company.<\/p>\n<ul>\n<li>Assets<\/li>\n<li>Passives<\/li>\n<li>Patrimonies<\/li>\n<\/ul>\n<p><strong>Nominal accounts<\/strong><\/p>\n<p>These are temporary accounts that represent income and expenses, product of the economic activity that your company carries out in certain periods and that represent losses and profits.<\/p>\n<ul>\n<li>Income<\/li>\n<li>Costs<\/li>\n<li>Expenses<\/li>\n<\/ul>\n<p><strong>Mixed accounts<\/strong><\/p>\n<p>Mixed accounts are those accounts whose balance is made up of a real part and a nominal part. \u00a0When making your financial closing, all the balance must be real.<\/p>\n<p>It is important that all the financial information generated by your company is recorded, in this way you will understand why the balance in your accounts increases or decreases. \u00a0Create a financial statement that guides you to make the best decisions for your business..<\/p>\n<p>&gt;You may also be interested in our entry: <a href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/public-accounting-in-mexico\/\">Origin of public accounting in Mexico<\/a><\/p>\n<p>At <strong>QuAdrans law and finance<\/strong> we have highly trained accountants capable of providing you with the best financial advice, the advice is personalized and adaptable to the needs of your company. \u00a0If you want more information <a href=\"https:\/\/quadranslawandfinance.com\/contacto-contabilidad-abogado\/\">contact us.<\/a><\/p>\n<h4 style=\"text-align: center;\"><strong>QuAdrans, Tax and accounting advice in Playa del Carmen.<\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>An accounting account is a record where all the transactions that are generated within a company (income and expenses) are detailed. \u00a0This tool allows you to have control over the distribution of resources and assets generated by your business, thus avoiding future losses and improving the financial performance of your company. &gt;You may also be [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":12292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[],"class_list":["post-12294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fiscal-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>This is how accounting accounts are classified - QuAdrans law and finance<\/title>\n<meta name=\"description\" content=\"An accounting account is a record where all the income and expenses of a company are detailed and thus the accounting accounts are classified:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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