Difference between revisions of "Chart of accounts"
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==Examples== | ==Examples== | ||
===Simple chart of accounts=== | ===Simple chart of accounts=== | ||
| − | :The charts below are just examples; no general standard exists in [[GAAP]].<blockquote><table class="wikitable" width=100% style="text-align:center;"><caption>Example of chart of accounts for [[sole proprietorship]] or [[partnership]]</caption><tr><th>Group</th><th>To be used in</th><th>Category</th><th>Account code</th><th>Account name</th></tr><tr><td rowspan=" | + | :The charts below are just examples; no general standard exists in [[GAAP]].<blockquote><table class="wikitable" width=100% style="text-align:center;"><caption>Example of chart of accounts for [[sole proprietorship]] or [[partnership]]</caption><tr><th>Group</th><th>To be used in</th><th>Category</th><th>Account code</th><th>Account name</th></tr><tr><td rowspan="22">Balance Sheet Accounts<td rowspan="22">[[Balance sheet]]</td><td rowspan="9">Asset Accounts</td><td>101</td><td>Bank (or Cash at Bank)</td></tr><tr><td>102</td><td>Cash</td></tr><tr><td>108</td><td>Deferred Expense</td></tr><tr><td>112</td><td>Accounts Receivable</td></tr><tr><td>116</td><td>Supplies</td></tr><tr><td>130</td><td>Prepaid Insurance</td></tr><tr><td>157</td><td>Equipment</td></tr><tr><td>158</td><td>Accumulated Depreciation Equipment</td></tr><tr><td>199</td><td>Other Assets</td></tr><tr><td rowspan="6">Liabilities</td><td>200</td><td>Notes Payable</td></tr><tr><td> |
| + | 201</td><td>Accounts Payable</td></tr><tr><td>209</td><td>Unearned Service Revenue</td></tr><tr><td>230</td><td>Interest Payable</td></tr><tr><td>231</td><td>Deferred Gross Profit</td></tr><tr><td>299</td><td>Other Liabilities</td></tr><tr><td rowspan="7">Owner's Equity Accounts</td><td>300</td><td>Owner's capital</td></tr><tr><td>311</td><td>Share Capital-Ordinary</td></tr><tr><td>320</td><td>Retained Earnings</td></tr><tr><td>330</td><td>Capital contributions</td></tr><tr><td>332</td><td>Dividends</td></tr><tr><td>350</td><td>[[Income Summary]]</td></tr><tr><td>360</td><td>Drawings (Distributions)</td></tr></table></blockquote> | ||
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| − | = | + | </td></tr><tr><td rowspan="6">Profit & Loss Accounts</td><td rowspan="6">Income statement</td><td>Revenue</td><td>411</td><td>Delivery Fees Earned</td></tr><tr><td rowspan="5">Expenses</td><td>511</td><td>Salaries Expense</td></tr><tr><td>512</td><td>Advertising Expense</td></tr><tr><td>513</td><td>Gas Expense</td></tr><tr><td>514</td><td>Office Supplies Expense</td></tr><tr><td>515</td><td>Telephone Expense</td></tr></table></blockquote> |
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| − | + | 400</td><td>Rental Income</td></tr><tr><td> | |
| + | 410</td><td>Sales Income</td></tr><tr><td> | ||
| + | 420</td><td>Interest Income</td></tr><tr><td> | ||
| + | 499</td><td>Other Income</td></tr><tr><td> | ||
| − | + | 570</td><td>Office Expense</td></tr><tr><td> | |
| − | + | 585</td><td>Computer Expenses</td></tr><tr><td> | |
| − | + | 595</td><td>Communication Expense</td></tr><tr><td> | |
| + | 597</td><td>Labour & Welfare Expenses</td></tr><tr><td> | ||
| + | 610</td><td>Advertising Expenses</td></tr><tr><td> | ||
| + | 599</td><td>Printing & Stationery Expenses</td></tr><tr><td> | ||
| + | 631</td><td>Supplies Expense</td></tr><tr><td> | ||
| + | 711</td><td>Depreciation Expense</td></tr><tr><td> | ||
| + | 722</td><td>Insurance Expense</td></tr><tr><td> | ||
| + | 726</td><td>Salaries and Wages Expense</td></tr><tr><td> | ||
| + | 729</td><td>Rent Expense</td></tr><tr><td> | ||
| + | 732</td><td>Utilities Expense</td></tr><tr><td> | ||
| + | 805</td><td>Interest Expense</td></tr><tr><td> | ||
| + | 999</td><td>Other Expenses</td></tr><tr><td> | ||
| − | ===== | + | =====Equity Accounts (for corporations)===== |
| − | + | 300</td><td>Dividend</td></tr><tr><td> | |
| − | + | 310</td><td>Capital in excess of par</td></tr><tr><td> | |
| − | + | 330</td><td>Retained earnings</td></tr><tr><td> | |
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Revision as of 11:41, 16 November 2018
Examples
Simple chart of accounts
- The charts below are just examples; no general standard exists in GAAP.
Example of chart of accounts for sole proprietorship or partnership Group To be used in Category Account code Account name Balance Sheet Accounts Balance sheet Asset Accounts 101 Bank (or Cash at Bank) 102 Cash 108 Deferred Expense 112 Accounts Receivable 116 Supplies 130 Prepaid Insurance 157 Equipment 158 Accumulated Depreciation Equipment 199 Other Assets Liabilities 200 Notes Payable 201 Accounts Payable 209 Unearned Service Revenue 230 Interest Payable 231 Deferred Gross Profit 299 Other Liabilities Owner's Equity Accounts 300 Owner's capital 311 Share Capital-Ordinary 320 Retained Earnings 330 Capital contributions 332 Dividends 350 Income Summary 360 Drawings (Distributions)
Profit & Loss AccountsIncome statementRevenue411Delivery Fees EarnedExpenses511Salaries Expense512Advertising Expense513Gas Expense514Office Supplies Expense515Telephone Expense
400Rental Income 410Sales Income 420Interest Income 499Other Income 570Office Expense 585Computer Expenses 595Communication Expense 597Labour & Welfare Expenses 610Advertising Expenses 599Printing & Stationery Expenses 631Supplies Expense 711Depreciation Expense 722Insurance Expense 726Salaries and Wages Expense 729Rent Expense 732Utilities Expense 805Interest Expense 999Other Expenses
Equity Accounts (for corporations)
300Dividend 310Capital in excess of par 330Retained earnings
