Complete Chart of Accounts in Accounting coding System

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Chart of Accounts

Chart of Account (COA) is a coding system which financial transactions are recorded. Chart of Accounts is used for Accounts Reporting and Making Account statements. The Chart of account is the basic of accounts for recording in an accounting system, with separation of accounts like assets, liabilities, banks, expenses, Clients, Suppliers, e.g. We will give the numbers for identify the accounts. A list of these numbers with the specific descriptions of accounts is called a chart of accounts. This chart of Account is Especially Design for Accounting Software.

Chart of Accounts

Chart of Accounts

OWNERS EQUITY

Total Assets of the business are Owners Equity, Like Owners Business, Home, and any other assets that the owner has all owners’ equity.

Coding

Title

Level No

Type

10OWNERS EQUITYOEOE
1001
1001001HOME EXPENSESOEOE
1001002ELECTRICITY Bill 01OEOE
1001003ELECTRICITY Bill 02OEOE
1001004SUI GAS billOEOE
1001005WATER BILL (HOME)OEOE
1001006PHONE No.bill 01OEOE
1001007PHONE No.bill 02OEOE
1001008CHILDERN FEESOEOE

 

 

 

 

 

 

 

 

LONG TERM LIABILITIES

Long term liabilities are those liabilities that are used more than one year.

20LONG TERM LIABILITIESLBLB
2002 LONG TERM LIABILITIES
2002001BANKSLBLB
2002002PERSONAL SOURCESLBLB
2002003LOAN FROM UNCLELBLB
2002004LOAN FROM MR.MehdLBLB
2201 ASSETSLBLB
2002001 BANK OF PUNJABLBLB
2002002MACHINE – BANKLBLB
2002003 SCB BANKLBLB
2002004GENERATOR -BANKLBLB
2002005MEHRAN UBLLBLB
2002006HONDA – UBLLBLB
2002007SCBLBLB
2200008CULTUS SCBLBLB

SHORT TERM LOAN

That is taken for less than five years are called short term loan.

 30SHORT TERM LOANBABA
3001
3001001SHORT TERM LOAN – BOPBABA
3001002BOP  RUNNING FINANCEBABA
3001003SHORT TERM LOAN – BankBABA
3001004RUNNING FINANCE – BankBABA

SUPPLIERS / TRADE CREDITORS

Suppliers are that is providing services and goods. We can purchase the goods and services from suppliers or trade creditors for both benefits.

31TRADE CREDITORSSPSP
3101TRADE CREDITORS
3101001PAPER, BOARD SUPPLIERSSPSP
3101002CHEMICALS SUPPLIERSSPSP
3101003RUBBER SUPPLIERSSPSP
3101004PLATES SUPPLIERSSPSP
3101005CLOTH SUPPLIERSSPSP
3101006PACKING MATERIALSPSP

MARK UP PAYABLE

Mark up means the interest that is taken by bank against Our Loan. Markup payable means the interest amount that is payable to bank, With specific Installment.

3208
 3208001MARK UP PAYABLECLCL
3208001001 MARK UP PAYABLE – BANKCLCL
3208001002 MARK UP PAYABLE – FAYSALCLCL
3208001003 MARK UP PAYABLE – UBLCLCL

FIXED ASSETS

Fixed assets are that assets that is fixed e.g. building, Plant and machinery, furniture and fixture, vehicles, that is using for business or personal purpose.

50
 FIXED ASSETSFAFA
5001 LAND  
5001001LAND – FACTORYFAFA
5001002LAND – LahoreFAFA
5001003RESIDENTIAL IslamabadFAFA
5002BUILDINGFAFA
5002001
5002001001FACTORY BUILDINGFAFA
5002001002BUILDING – LAHOREFAFA
5002002003RESIDENTIAL BUILDINGFAFA
5003DEPRECIATION BUILDINGFAFA
5003001
5003001001DEP FACTORY BUILDINGFAFA
5003001002HOME BUILDINGFAFA
5003001003BUILDINGFAFA
5003001004ESIDENTIAL BUILDINGFAFA
5003001005DEPRECIATION QUARTERFAFA
5004PLANT AND MACHINERYFAFA
5004001
5004001001PLANT AND MACHINERYFAFA
FAFA
 5005DEP MACHINERYFAFA
   
5005001DEP PLANT & MACHFAFA
FAFA
5013VEHICLESFAFA
FAFA
5014DEPRECIATION VEHICLESFAFA
FAFA

ACCOUNT DEPRECIATION

Account Depreciation means we deduct the amount of percentage for yearly basis as depreciation. E.g. building, Plant and machinery, furniture and fixture, vehicles

LEASED ASSETS

Leased assets are that assets that is taken in leased from banks.

5015
 5015LEASED ASSETSFAFA
5015001001 Honda On Leased
5015001002 Motor Cycle On LeasedFAFA

WORK IN PROGRESS

A work in progress mean that work that is on working not completed or uncompleted work are called work in progress.

In working companies there are three types of materials

Raw material

Work in Progress

Finished goods

52WORK IN PROGRESSOAOA
5201
5201001W.I. PROGRESS BUILDINGOAOA
W.I. P BUILDING LAHOREOAOA

STOCK IN TRANSIT

The stock that is not receiving yet means which is being transferred to factory.

62STOCK IN TRANSITOAOA
6201
6201001STOCK IN TRANSITOAOA

TRADE DEBTORS / CLIENTS

Clients mean that working companies where we are supplying goods and services for benefit for both parties.

TRADE DEBTORSCTCT
63
6301
6301001001SS COMPANYCTCT
6301001002 Star PharmaCTCT
6301001003 S.S PackagesCTCT
6301001004 Global EnterprisesCTCT

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