Basic Chart of Accounts
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Basic Chart of Accounts


10      Assets

         1000    Cash in Bank                                          

        1020    Accounts Receivable                           

        1040    Inventory             

            

20        Liabilities & Equity

        200     Liabilities                               

                         2000    Accounts Payable

                  2100    Uninvoiced Receiving                           

                        2250    Sales Tax     

              

       300     Equity                                              

                  3500    Retained Earnings          

                         3999    Current Year Profit <Loss>


40      Revenue                                         

       4000    Taxable Sales                               

       4010    Non-Taxable Sales                                  

       4040    AR Payment Discount

  1. Restocking Fee
  1. Service Charge

    

50      Cost of Goods Sold                     

  1. Cost of Goods         

5010    Freight                           

  1. Purchase Discount

5030    Purchase Price Variance


60      Expenses                                        

       6080    In Store Use      

                 

9999    Current Year Profit <Loss>