Accounting software is used for a variety of reasons, efficiency, processing invoices, track income and expenses, track payments to vendors, and organize financial statements to name just a few. But it serves no purpose if the accountant or bookkeeper does not understand how the chart of accounts within the system work, or how to view the details in order to answer questions.

When accessing and extracting reports from an accounting software, it is important to know the transaction codes. But once you know the transaction codes, do you understand what you are viewing? Are you able to answer questions about an account or a specific transaction?