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

10 OWNERS EQUITY OE OE
1001
1001001 HOME EXPENSES OE OE
1001002 ELECTRICITY Bill 01 OE OE
1001003 ELECTRICITY Bill 02 OE OE
1001004 SUI GAS bill OE OE
1001005 WATER BILL (HOME) OE OE
1001006 PHONE No.bill 01 OE OE
1001007 PHONE No.bill 02 OE OE
1001008 CHILDERN FEES OE OE

 

 

 

 

 

 

 

 

LONG TERM LIABILITIES

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

20 LONG TERM LIABILITIES LB LB
2002  LONG TERM LIABILITIES
2002001 BANKS LB LB
2002002 PERSONAL SOURCES LB LB
2002003 LOAN FROM UNCLE LB LB
2002004 LOAN FROM MR.Mehd LB LB
2201  ASSETS LB LB
2002001  BANK OF PUNJAB LB LB
2002002 MACHINE – BANK LB LB
2002003  SCB BANK LB LB
2002004 GENERATOR -BANK LB LB
2002005 MEHRAN UBL LB LB
2002006 HONDA – UBL LB LB
2002007 SCB LB LB
2200008 CULTUS SCB LB LB

SHORT TERM LOAN

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

 30 SHORT TERM LOAN BA BA
3001
3001001 SHORT TERM LOAN – BOP BA BA
3001002 BOP  RUNNING FINANCE BA BA
3001003 SHORT TERM LOAN – Bank BA BA
3001004 RUNNING FINANCE – Bank BA BA

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.

31 TRADE CREDITORS SP SP
3101 TRADE CREDITORS
3101001 PAPER, BOARD SUPPLIERS SP SP
3101002 CHEMICALS SUPPLIERS SP SP
3101003 RUBBER SUPPLIERS SP SP
3101004 PLATES SUPPLIERS SP SP
3101005 CLOTH SUPPLIERS SP SP
3101006 PACKING MATERIAL SP SP

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
 3208001 MARK UP PAYABLE CL CL
3208001001  MARK UP PAYABLE – BANK CL CL
3208001002  MARK UP PAYABLE – FAYSAL CL CL
3208001003  MARK UP PAYABLE – UBL CL CL

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 ASSETS FA FA
5001  LAND    
5001001 LAND – FACTORY FA FA
5001002 LAND – Lahore FA FA
5001003 RESIDENTIAL Islamabad FA FA
5002 BUILDING FA FA
5002001
5002001001 FACTORY BUILDING FA FA
5002001002 BUILDING – LAHORE FA FA
5002002003 RESIDENTIAL BUILDING FA FA
5003 DEPRECIATION BUILDING FA FA
5003001
5003001001 DEP FACTORY BUILDING FA FA
5003001002 HOME BUILDING FA FA
5003001003 BUILDING FA FA
5003001004 ESIDENTIAL BUILDING FA FA
5003001005 DEPRECIATION QUARTER FA FA
5004 PLANT AND MACHINERY FA FA
5004001
5004001001 PLANT AND MACHINERY FA FA
FA FA
 5005 DEP MACHINERY FA FA
     
5005001 DEP PLANT & MACH FA FA
FA FA
5013 VEHICLES FA FA
FA FA
5014 DEPRECIATION VEHICLES FA FA
FA FA

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
 5015 LEASED ASSETS FA FA
5015001001  Honda On Leased
5015001002  Motor Cycle On Leased FA FA

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

52 WORK IN PROGRESS OA OA
5201
5201001 W.I. PROGRESS BUILDING OA OA
W.I. P BUILDING LAHORE OA OA

STOCK IN TRANSIT

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

62 STOCK IN TRANSIT OA OA
6201
6201001 STOCK IN TRANSIT OA OA

TRADE DEBTORS / CLIENTS

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

TRADE DEBTORS CT CT
63
6301
6301001001 SS COMPANY CT CT
6301001002  Star Pharma CT CT
6301001003  S.S Packages CT CT
6301001004  Global Enterprises CT CT

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