Should all Travel Expenses Be Lumped Into One G/L Account?
January, 2003
Keeping a lid on the number of accounts in the general ledger is always a challenge. Too many accounts make the ledger unwieldy, but limiting the number can diminish the usefulness of the information and almost guarantee that the allocations will be done incorrectly. T&E is one of those nebulous areas where accounts are often combined. Is this smart? Does this make it difficult, if not impossible, to get needed information from the ledger? To help unravel this question Managing Accounts Payable asked several accounting experts.
2009
