Coding of accounts

Coding of nominal ledger account helps to excel performance in using most of accounting database programs and manual working. In this article, we will see some example on how accounts are coded in different industrial sectors or different regime. Coding is a basic logic for operation of computer based accounting applications. Each function of business system has its own module, which is connected with balance of related ledger account.

United States Simple Chart of Account for Sole proprietorship and Partnership	Swedish Standard Account for organisations	Unified Chart of account for Non-For Profit Organisations
Asset Accounts 100 Bank/Cash at Bank - (Cash) 101 Petty Cash 102 Accounts Receivable (also known as Debtors Control) 103 Provision for Doubtful Debts/Allowance for Doubtful Debts 104 GST Receivable 105 Inventory (Stock On Hand) 106 Prepaid Expenses/Prepayment 107 Income Receivable (also known as Income Accrued) 110 Other Assets Liability Accounts 201 Accounts Payable (Creditors) 206 Credit Cards 210 Tax Payable 220 Employment Expenses Payable 270 Accrued Expense ====Equity Accounts (for sole proprietorships and partnerships) 300 Owner's capital 330 Capital contributions 360 Drawings Profit & Loss accounts Revenue Accounts 400 Sales Revenue 420 Interest Income (Non-Operating Revenue) Cost of Goods Sold Accounts 500 Purchases (note: COGS = Beginning Inventory + Purchases - Ending Inventory) Expense Accounts 670 Office Expense 685 Legal Expense 690 Personnel Benefits' Expenses 695 Communication Expense 696 Traveling & Conveyance 697 Labour & Welfare Expenses 698 Advertising Expenses 699 Printing & Stationery Expenses 670 Carriage Outward Source: Wiki	Asset accounts 1000 Immaterial assets 1100 Buildings and land assets 1200 Inventories, Machines, Vehicles & Equipment assets 1300 Financial relations with other near companies 1400 Stored products and work in progress 1500-1699 Receivables 1700 Pre-payments and accrued income 1800 Securities market assets 1900 Cash & Bank Accounts Liabilities accounts 2000 Equity 1 2100 Reserves 2200 Deposits (staff pensions etc.) 2300 Loans 2400 Short debts (payables 2440) 2500 Income Tax Payable 2600 VAT Payable 2700 Staff income Payable 2800-2999 other liabilities Profit & Loss accounts Revenue accounts 3000 Revenue Accounts Expense accounts 4000 Costs directly related to revenues 5000-7999 General expense Accounts 8000 Financial Accounts 9000 Contra-accounts Source: Wiki	Assets Account / Numbers Cash and Cash Equivalents Operating checking 1000 Savings/Money Market 1010 Savings: Restricted grants 1020 Receivables Program svc fees receivable: clients/tenants/etc 1100 Prepaid insurance 1200 Land 1300 Buildings 1310 Software 1350 Accumulated depreciation 1390 Notes Receivable Note receivable #1 1410 Other Assets Rent deposit 1900 Liabilities Account Accounts Payable Accounts payable 2000 Payroll, Payroll Taxes Payroll payable 2100 & Withholding FICA & Hosp. payable 2110 Fed. W/H payable 2120 Accrued Expenses Accrued fees 2200 Accrued interest 2210 Other Current Liabilities Accrued vacation 2300 Deferred revenue 2310 Net Assets Unrestricted net assets 3000 Temporarily restricted net assets 3100 Permanently restricted net assets 3200 Statement of Unrestricted Activities Revenue & Support Contributions Contributions – individuals 4000 Contributions – foundations 4100 Contributions – corporations 4200 Grants – government 4300 Transfers to/from temp. restricted fund 4400 In-kind contributions – goods 4500 Program service fees 4700 Investment income Dividends and interest 5600 Realized gain/loss on sale 5610 Expenses Salaries & wages 6000 Payroll taxes FICA & Medicare 6100 State unemployment 6110 Benefits Health insurance 6120 Accounting/bookkeeping 7000 Auditing 7010 Miscellaneous Bank fees 7020 Books & publications 7030 Depreciation 7040 Dues & subscriptions 7050 Insurance 7090 Interest 7100 IT support 7110 Legal fees 7120 Licenses and fees 7130 Miscellaneous 7140 Staff training 7200 Telephone 7210 Source:  http://www.northlandfdn.org/convening/keeley0109/chartofaccounts.pdf