CHART OF ACCOUNTS.750K[1] - Landscape … - chart of accounts by industry

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• (1) Sample chart of accounts contractor
• (2) Basic chart of accounts
• (3) Industry standard chart of accounts
• (4) Manufacturing chart of accounts template

CHART OF ACCOUNTS
The Chart of Accounts is a summarizing coding system that classifies for electronic
storage of all financial transactions the Company conducts through its check book,
journals, and sub-journals.
BALANCE SHEET ITEMS
The Balance Sheet is a statement of the financial position of the Company at a specific
point in time, and includes:
ASSETS The property and property rights of the Company
CURRENT ASSETS Cash, and other assets or resources, expected to be realized
in cash, or sold or consumed during the normal operating
cycle of the Company. (The Company's normal operating
cycle extends from the time required for its cash to be
converted into landscape-related service or design/build
materials, back into accounts receivables, and accounts
receivables ultimately into cash.
CASH IN BANK Current balance of all checking and savings accounts
BANK- Bank account to which all operating checks are charged
OPERATING
BANK- Bank account to which all payroll checks are charged.
PAYROLL
TOTAL CASH The total cash assets of the Company.
IN BANKS
ACCOUNTS Trade accounts expected to be converted into cash in the
RECEIVABLE regular course of business, usually 30 days
TRADE Cash claims of the Company arising from trade accounts
ALLOWANCES Accounts Receivable generated but estimated uncollectable
FOR DOUBTFUL within the calendar year
ACCOUNTS
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EMPLOYEES Loans receivable from employees
OFFICERS Cash advances to Officers
OTHER Other claims of the Company for cash, goods, or services
resulting from its income endeavors
STATE INCOME Cash due from tax return refunds
TAX REFUND DUE
TOTAL ACCOUNTS
RECEIVABLE
FIXED ASSETS Cash and cash claims restricted to use for other than current
operations; receivables not expected to be collected within
a twelve-month period; cash surrounding value of Life
Insurance policies, land, depreciable assets, long-term
payments
INVENTORIES A fixed sum of money declared by the Officers to reflect
the lower of cost or market value of items the Company
holds for sale as raw materials or finished products in the
normal course of business
MATERIALS Live and hard materials held by the Company for future
work
COSTS EST. EARN
OVER BILL Revenues recognized in excess of amounts billed; a
bracketed number in this account represents billings in
excess of revenue earned.
TOTAL
INVENTORIES
OTHER CURRENT
ASSETS
PREPAID Amount paid in advance for insurance expenses not yet
INSURANCE fully incurred
PREPAID
EMPLOYMENT
TAX
SM MOTOR In the first calendar quarter of each year, the Company
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EQUIP. AMORT. purchases small-motor equipment having a useful life of
TO #828 one year or less. The equipment appears asset, and is
depreciated 1/12 each month through expense account #828
PREPAID FED'L Advance payments made against an estimated, future tax
CORPORATE liability
INCOME TAX
TOTAL OTHER Any miscellaneous items which will be refunded or
CURRENT ASSETS converted to expense
TOTAL CURRENT Total assets marked for use within the immediate, twelve-
ASSETS month period
FIXED ASSETS
AUTOMOBILES Cost of all rolling stock except trailers
& TRUCKS
LEASEHOLD Capitalized improvements made by the Company to the
IMPROVEMENTS office building and grounds it leases
MACHINERY & Cost of all capitalized mowing, excavation, and shop
EQUIPMENT equipment, trailers
OFFICE Cost of all office equipment owned
FURNITURE &
FIXTURES
ACCUMULATED Allowances for depreciation of all depreciable assets
DEPRECIATION
NET BOOK The value of all fixed assets after depreciable assets
VALUE
OTHER ASSETS
DEPOSITS Refundable monies belonging to the Company but
held by others.
NOTE REC- Borrowings of the Officers in prior years
OFFICER
TOTAL OTHER
ASSETS
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What should you include on your chart of accounts?Assets: Typical examples of assets include cash, inventory, and property. ...Income: This should include all accounts that produce revenue for your business.Expenses: This category includes any money you pay to operate your business. ...Liabilities: A liability is any amount that you owe to others for goods or services already received. ...

• Chart of Accounts
• CHART OF ACCOUNTS - University of Kentucky
• CHART OF ACCOUNTS.750K[1] - Landscape …
• Example Chart of Accounts Code
• Uniform System of Accounts for the Lodging Industry - ISHC