The 5 Buckets of Accounting.

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Accounting is one of those subjects which is much harder to learn and understand than it is to do. I mean, once you understand accounting it is really quite easy to do. The reason why accounting is pretty easy is because, for every transaction, there are only 5 categories to choose from. So once you understand the 5 types of accounting accounts, then everything, and I mean everything has to fit into one of the 5 types of accounts. So from a very basic level, you only need to know which categories the transaction is and put it in one of the 5 slots.