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02/21/11 9:07am PST
Viewed by asker 04/25/11 1:24pm PDT

Numbering Structure: Chart of Accounts

US QuickBooks Pro for Windows

Using a numbered chart of accounts, how should the accounts be numbered below in QB? I don't want to run into any reporting problems down the way because I didn't number the chart of accounts properly. I have below an example chart of accounts under the "Assets" category.

Assets
--Cash and Cash Equivalents
------Operating Checking
------Savings/Money Market
------Savings: Restricted Grants

--Property, Furniture & Equipment
------Land
------Buildings
------Equipment

Thanks,

Ryan

 

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The solution

100 Assets
110 --Cash and Cash Equivalents
111 ------Operating Checking
112 ------Savings/Money Market
113 ------Savings: Restricted Grants

120 --Property, Furniture & Equipment
121 ------Land
122 ------Buildings
123 ------Equipment

200 Liabilities
300 Owners Equity

400 Revenue/Income
500 Expenses

This is the standard convention.   Leave room in between for future growth. If you want more accounts, you can increase to 4 digit numbers.

 

Hope this helps. If so please mark solved, if not please ask more questions. Thanks!

Don Glenn
Accounting Instructor
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  • quickbooks pro for windows
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