Sample Chart of Accounts                

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Account no.

Name

Type

1006

Bank

Asset

1112

Accounts Receivable

Asset

1113

Exchange on Foreign Receivables

Asset

1200

Inventory

Asset

1721

Equipment

Asset

1821

Accumulated Depreciation Equipment

Liability

2032

Accounts Payable

Liability

2034

Exchange on Foreign Payables

Liability

2040

Sales Tax Payable

Liability

2050

Income Tax Payable

Liability

3110

Proprietor’s Capital or Retained Earnings

Equity

3111

Proprietor’s Withdrawals or Salary

Expense

4000

Sales

Revenue

4999

Cash Discounts

Revenue

5000

Cost of Goods Sold

Expense

5110

Auto Supplies

Expense

5111

Office Supplies

Expense

5112

Courier

Expense

5113

Telephone

Expense

5114

Postage

Expense

5115

Banking Charges

Expense

5116

Meals and Entertainment

Expense

5117

Travelling

Expense

5118

Professional Fees

Expense

5119

Business Taxes and Licenses

Expense

5120

Charitable Donations

Expense

5121

Courses and Training

Expense

5122

Dues and Memberships

Expense

5123

Magazines and Books

Expense

5124

Promo and Gifts

Expense

6000

Rent on Building

Expense

6001

Business Use of Home

Expense

6002

Electricity

Expense

6003

Insurance

Expense

6004

Water

Expense

6005

Property Taxes

Expense

7121

Depreciation Equipment

Expense

7130

Gain/Loss Disposal of Assets

Expense

7820

Misc Income and Expense

Expense

9020

Gain/Loss Foreign Exchange

Expense

9110

Income Tax Current Year

Expense

9025

Bad Debts

Expense

9030

Purchase Discounts

Expense