Summary of Transactions

Summarizing each individual ledger account and listing these accounts and their balances to test for accuracy in recording the transactions.
1. Name of the company
2. Title
3. Date
4. Account Name (In order - Chart of Account)
5. Two Column Debit - Credit

CHART OF ACCOUNTS
A numbering system of accounts that list account titles and accounts numbers to be used by a company.
Before recording transactions for new business, the accountant must first think of all the possible types of transactions that the company will carry out. Based on this variety of possible transactions, the company's accountant makes a list of account titles to be use to record the company's transactions.
Chart of Account - Is the official list of the ledger accounts in which transactions of a business are to be recorded. Assets are listed, Liabilities, Owners Equity, Revenue, and Expenses.