> No.    Description                 Debits                              Credits
> 1000 Assets*                   $ 52883.43
> 1100 Current Assets*          $3314.43
> 1101 Fees Received             $100.00
> 1152 Checking Account       $3214.43
> 1200 Inventory*                 $4324.44
> 1201 Current Inventory       $4324.44
> 1300 Accounts Receivable*$45,244.56
> 1301 Accounts Receivable $45,244.56
>
> In this case we have the following headers and accounts:
>
> Assets
> ---Current Assets:  Fees .Received, Checking Account
> ---Inventory:  Current Inventory
> ---Accounts Receivable:  Accounts Receivable
>
> Although the accounts are not nested themselves (real accounts are
> attached to a heading), the headings are hierarchically organized to
> allow for hierarchical summary information (such as balances).  The
> depth is arbitrary.
>   



Just a thought, but it's normal to have expenses which should be shown 
for P&L purposes, but are not allowable for tax deduction purposes.  
There may be a bunch of juristictional requirements on how to show this 
(I'm wondering if some people need to show it on the reports in two 
places?  Then it stops being a tree and becomes some kind of general 
directed graph...).

Ed W

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