A chart of accounts is a listing of the various categories for income and expenses that are associated with the finances of an...
Whether you use a tailored list or a standard list you will always be able to adapt the list to suit your business by adding new accounts into your chart or deleting accounts that you do not want so as long as they haven’t already been used with financial transactions. Used accounts tha...
and then come income statement accounts like revenue and expenses, in the order they appear on yourfinancial statements. You may also wish to break down your business’ COA according to product line, company division, or business function, depending on your unique needs. ...
The chart of accounts is organized under the five main account types. While the five main accounts at the top stay the same, the accounts that sit underneath can be customized to suit your business. For example, within expenses you could have subcategories for utilities, office expenses and ...
Revenue - Accounts that represent the income earned by the business through its activities. Expenses - Accounts that represent the costs incurred by the business, such as rent, salaries, and utilities. Each account in the chart of accounts is assigned a unique code number to help make financial...
Expenses. If you have many financial accounts, you can break those down into further subcategories — such as operating revenues or non-operating losses — to keep everything organized. You can even break them up further by business function or company division if you need to, but most small...
1122 应收账款 Accounts Receivable 1131 应收股利 Dividend Receivable 1132 应收利息 Interest Receivable 1221 其他应收款 Other Receivable 1221.01 其他应收款_社保 Other Receivable_Social Insurance 1221.02 其他应收款_公积金 Other Receivable_Public Accumulation Fund ...
It simplifies accounting by grouping accounts like assets, liabilities, revenue, and expenses into a clear, numbered system. Using automated software for your chart of accounts helps reduce errors and saves time as your business grows. What is a chart of accounts? The chart of accounts (COA) ...
A chart of accounts usually lists balance sheet accounts first and then income statement accounts. A COA for a small business might have the following sub-accounts: Asset accounts: Cash Savings account Prepaid expenses Accounts receivable Real estate ...
Here are more examples of expense accounts to your business may use: Cost of sales Advertising expense Interest expense Depreciation expense Salaries or wages Interest expense Depreciation expense It’s also a good idea to break up expenses into separate accounts, like if you ship a lot of produc...