Foundations
- Apply double-entry rules — classify transactions into debits and credits
- Design chart of accounts — build an account structure that matches reporting needs
Ledger maintenance
- Keep a plain-text ledger — maintain books in versionable text files
- Use Beancount for validation — validate ledger integrity with Beancount tooling
- Track multiple currencies — handle foreign currencies and crypto with cost basis
Reporting and review
- Read financial statements — generate and interpret balance sheets, income statements, and cash flow
- Reconcile accounts — match ledger balances against external statements
- Close accounting period — finalize books at month-end or year-end
- Maintain budget — plan spending and compare against actual results