Sample Chart of Accounts

Asset Accounts

Current Assets

  1001 Cash in Bank
  1003 Petty Cash Account
  1005 Inventory
  1008 Accounts Receivable
  1012 Prepaid Expense

Long Term Assets

  1200 Land
  1300 Buildings
  1301 Accumulated Depreciation, Buildings
  1400 Vehicles
  1401 Accumulated Depreciation, Vehicles
  1600 Shop Equipment
  1601 Accumulated Depreciation, Shop Equipment
  1700 Office Equipment
  1701 Accumulated Depreciation, Office Equipment

Other Assets

  1800 Deposits

Liability Accounts

Current Liabilities

  2002 Accounts Payable
  2100 Employment Tax Payable
  2300 Short Term Loans Payable
  2350 Customer Deposits
  2385 Current Portion of Long Term Debt
  2400 Suspense

Long Term Liabilities

  2501 Land Payable
  2505 Equipment Payable
  2510 Vehicles Payable
  2514 Bank Loans payable
  2551 Less Current Portion LTD
  2750 Paid in Capital
  2825 Beginning Equity
  2830 Partners Contribution
  2835 Partners Draw

Sales Accounts

  3010 Frame Sales
  3015 Other Sales

Direct Expense Accounts

  4010 Shop or Design Labor
  4015 Payroll Tax Expense
  4023 Workers Comp Expense
  4027 State Sales Tax Expense
  4101 Materials
  4200 Freight
  4326 Engineering
  4510 Outside Services
  4550 Shop or Design Supplies
  4647 Rental Expense
  4700 Repair and Maintenance
  4809 Small Tools
  4830 Travel
  4843 Lodging
  4849 Meals

Indirect Expense Accounts (Overhead)

  5010 Salaries & Wages, Office & Sales
  5015 Payroll Tax Expense, Office & Sales
  5023 Workers Comp Expense, Office & Sales
  5300 Accounting
  5312 Advertising
  5330 Bank Fees
  5341 Depreciation Expense
  5345 Dues and Subscriptions
  5353 Insurance: Product Liability
  5355 Insurance: Vehicles
  5358 Legal Fees
  5550 Office Supplies
  5600 Postage
  5618 Research and Development
  5700 Repair and Maintenance, Office
  5762 Taxes and Licenses
  5775 Telephone
  5813 Training
  5820 Utilities

Other Accounts

  7050 Interest Income
  7100 Cash Discounts
  7200 Gain or Loss on Sale of Assets
  8020 Interest Expense