sample chart of accounts – free template for download
by：QY Precision 2019-10-12
What is accounting chart? The chart lists all accounts tracked in the general ledger. The chart of accounts depends on the accountant who has identified the required business accounts. All required accounts should be defined. After you have defined the account, you should assign a digital code to each account. Your digital code will help you identify your account. This number should be at least three digits ( For small businesses) But it would be better to have four or more figures to take into account that you may add more accounts as the company progresses. NetMBA suggests the following numbering system for your account chart: Another note is to leave your account number blank so you can place a new account between any two accounts. For example, it is prudent to encode your account by at least ten apart so that a new account can be added later. Also keep in mind that, depending on your industry, the type of account you have on the account sample chart will be different from the type of account for other businesses, how long have you been operating, and your business structure. What is the account Order of the account chart? You should list your account like you do on your balance sheet. This means that for each class of accounts, you should first list the items that are easiest to liquidate, such as cash and bank accounts, and then list the accounts that are least easy to liquidate, such as fixed assets. By paying attention to the order in which you list accounts on accounting chart, if accounting and tax attorneys need to review the list, you can help them read your chart easily. By assigning numbers to each account, you can easily determine which account is associated with the Journal and general ledger entries. Make sure you list your account in numerical order. Otherwise, things can get quite confusing. Assets should be listed first, Misc. The account should be listed at the end. The sample chart for AccountsHere is the sample chart for the account. You can also find a template for the sample chart of your account in the media library.