We are a construction company and would like to have a few questions answered regarding the financial statements that we are going to create for ourselves.

Here is the link to Balance Sheet & Income Statement.

  1. Are there any new General Ledger Accounts that are typically used and we should consider adding?
  2. Are there any existing General Ledger Accounts that should be combined?
  3. Is there a typical sequence that GL Accounts are generally shown? Like:
    1. Phone Expense
    2. Waste Disposal
    3. Maintenance

I appreciate any help I can get over the forum.