Tag: Regulator Accounts
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Bookkeeping – Regulator Accounts (Lesson 80)
Regulator accounts are non trial balance accounts used to guide and compare actual results against projected amounts. These projections are customarily stored in regulator accounts. The most common regulator account is a budget account. Other regulator accounts include counters and identifiers.
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Bookkeeping – Temporary Accounts (Lesson 78)
Temporary accounts are financial and process control tools used by management to achieve financial goals. They are composed of internal, regulator and restrictive accounts. They are opened at the beginning of an accounting period and closed prior to the end of an accounting cycle.