Account Title (Definition)

Account Title

What is an Account Title?

Account title is a name that makes an account identifiable among thousands of accounts in a chart of accounts. In a chart of accounts, every account is specified with an identical name so that every transaction can be placed in the correct account.

Best Practices of Account Title

The best thing to do with the account title is to monitor it every month. This monitoring will show if all the entries matches to the title. It prevents wrong entries.
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