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    Yes. But first, let me familiarize you with the meaning of Chart of Accounts. Meaning of Chart of Accounts Chart of Accounts is a numbered listing (account codes) of the various accounts that form part of the accounting records of an entity. The codes used help to group similar accounts together. FoRead more

    Yes. But first, let me familiarize you with the meaning of Chart of Accounts.

    Meaning of Chart of Accounts

    Chart of Accounts is a numbered listing (account codes) of the various accounts that form part of the accounting records of an entity. The codes used help to group similar accounts together. For eg. if you want to see only the operating expenses incurred. In this case, you need to enter only the range code assigned to operating expenses & you will get all the operating expenses transactions together at one place.

    Chart of Accounts varies from one entity to another depending on the size of the entity.

    Example of Chart of Accounts

    In the example given below, 1st digit of the numeric codes signifies different account types. “1” represents assets, “2” represents liabilities, “3” represents equity, “4” represents revenues, & “5” represents expenses.

    Sr No. Numeric range Account type Financial Statements
    1 1000-1999 Assets Balance Sheet
    1000-1499 Non-Current Assets
    1500-1899 Current Assets
    1900-1999 Contra Assets
    2 2000-2999 Liabilities Balance Sheet
    2000-2499 Non-Current Liabilities
    2500-2999 Current Liabilities
    3 3000-3999 Equity Balance Sheet
    4 4000-4999 Revenues Profit & Loss A/c
    4000-4499 Operating Income
    4500-4999 Non-Operating Income
    5 5000-5999 Expenses Profit & Loss A/c
    5000-5499 Operating Expenses
    5500-5999 Non-Operating Expenses
    1000-1499 Non-Current Assets 2000-2499 Non-Current Liabilities
    1000 Property, Plant & Equipment 2000 Long term debts
    1010 Buildings 2010 Loan from Financial Institutions
    1020 Land 2020 Loan from Others
    1030 Plant & Machinery
    1040 Furniture & Fixtures 2500-2999 Current Liabilities
    1050 Computer & Peripherals 2500 Accounts Payables
    1060 Leasehold Premises
    1070 Vehicles 2600 Short term debts
    2610 Loan from Financial Institutions
    1100 Intangible Assets 2620 Loan from Others
    1110 Goodwill
    1120 Patent 2700 Other Current Liabilities
    1130 Copyrights 2710 Pre-received Income
    1140 Trademarks 2720 Outstanding Expenses
    1150 Design
    1160 Software 3000-3999 Equity
    3100 Capital Contribution
    1200 Long term Investments 3200 Retained Earnings
    1210 Investment in shares
    1220 Investment in bonds 4000-4499 Operating Income
    1230 Investment in govt securities 4100 Sale of Goods
    4200 Sale of Services
    1300 Long term Loans & Advances
    4500-4999 Non-Operating Income
    1500-1899 Current Assets 4600 Interest from Investments
    1500 Accounts Receivables 4700 Dividend from Investments
    4800 Profit from Sale of Fixed Assets
    1600 Cash & Cash Equivalent 4900 Profit from Sale of Investments
    1610 Bank-Current A/c
    1620 Bank-OD A/c 5000-5499 Operating Expenses
    1630 Petty Cash 5000 Purchase of Raw Materials
    5050 Employee Benefit Expenses
    1700 Inventories 5100 Rental/Lease Expenses
    1710 Work-in-Progress 5150 Depreciation
    1720 Finished Goods 5200 Amortization
    1730 Raw Materials 5250 Professional Fees
    5300 Legal Expenses
    1800 Other Current Assets 5350 Electricity Expenses
    1810 Prepaid Expenses 5400 Repairs & Maintenance
    1820 Accrued Income 5450 Advertising Expenses
    1900-1999 Contra Assets 5500-5999 Non-Operating Expenses
    1910 Accumulated Depreciation 5500 Loss from Sale of Fixed Assets
    1920 Accumulated Amortization 5600 Loss from Sale of Investments

    A downloadable excel sheet has been attached for your reference.

    Example of Chart of Accounts

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