Benefits of a Centralized Chart of Accounts

Published On:

September 06, 2023

Authored By:

APQC

Public Content:

Centralizing the set up and maintenance of the chart of accounts is an APQC best practice for Accounts Payable. The centralization creates an internal control. In addition, organizations can ensure the use and consistency of the standardized chart of accounts definition, reduce errors in general ledger entry, and reduce errors in management and financial reporting.

Type:

Infographics

Topics:

Finance and Accounting, General Accounting and Reporting

Available Tools:

APQC Process Classification Framework (PCF)

Assessments

Benefits of a Centralized Chart of Accounts

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