Chart of Accounts
76 accounts
A best-practice chart of accounts is recommended for accurate books and working quick-presets. Missing 33 accounts (1000, 1400, 1550, 1560, 1570, 1600…).
Assets
| Code | Account Name | Subtype | Status | Actions |
|---|---|---|---|---|
| 1000 | Cash at Bank | current_asset | Active | |
| 1010 | Petty Cash | current_asset | Active | |
| 1020 | Cash on Hand / Till | current_asset | Active | |
| 1100 | Accounts Receivable | current_asset | Active | |
| 1150 | VAT Receivable (Input VAT) | current_asset | Active | |
| 1200 | Inventory / Stock | current_asset | Active | |
| 1300 | Loans Receivable | current_asset | Active | |
| 1400 | Prepayments & Prepaid Expenses | current_asset | Active | |
| 1500 | Fixed Assets | fixed_asset | Active | |
| 1510 | Accumulated Depreciation | accumulated_depreciation | Active | |
| 1550 | Land | fixed_asset | Active | |
| 1560 | Buildings / Property | fixed_asset | Active | |
| 1570 | Accumulated Depreciation – Buildings | accumulated_depreciation | Active | |
| 1600 | Intangible Assets | fixed_asset | Active | |
| 1700 | Investments & Deposits | fixed_asset | Active |
Liabilities
| Code | Account Name | Subtype | Status | Actions |
|---|---|---|---|---|
| 2000 | Accounts Payable | current_liability | Active | |
| 2100 | VAT Payable (Output VAT) | vat | Active | |
| 2110 | VAT Control / Settlement | vat | Active | |
| 2200 | Accruals | current_liability | Active | |
| 2210 | Tenant Deposits Held | current_liability | Active | |
| 2300 | Bank Loan | bank_loan | Active | |
| 2310 | PAYE / Tax Payable | payroll_deductions | Active | |
| 2320 | Pension / GOSI Payable | payroll_deductions | Active | |
| 2330 | Net Pay Payable | payroll_deductions | Active | |
| 2340 | Loan Interest Payable | loan_interest_payable | Active | |
| 2400 | Income Tax / Zakat Payable | current_liability | Active | |
| 2500 | Dividends Payable | current_liability | Active | |
| 2600 | Deferred Revenue | current_liability | Active | |
| 2610 | Deferred Tuition Fees | current_liability | Active | |
| 2700 | Provisions | current_liability | Active | |
| 2800 | Lease Liability | long_term_liability | Active |
Equity
| Code | Account Name | Subtype | Status | Actions |
|---|---|---|---|---|
| 3000 | Owner Capital | capital | Active | |
| 3100 | Retained Earnings | retained_earnings | Active | |
| 3200 | Share Premium | capital | Active | |
| 3300 | Dividends Declared | drawings | Active |
Income
| Code | Account Name | Subtype | Status | Actions |
|---|---|---|---|---|
| 4000 | Sales Revenue | sales_revenue | Active | |
| 4100 | Service Revenue | service_revenue | Active | |
| 4150 | Rental Income | service_revenue | Active | |
| 4160 | Tuition Fees Revenue | service_revenue | Active | |
| 4170 | Other School Fees Revenue | other_income | Active | |
| 4180 | Transportation Revenue | other_income | Active | |
| 4200 | Interest Income | interest_income | Active | |
| 4300 | Other Income | other_income | Active | |
| 4400 | Gain on Disposal | other_income | Active | |
| 4500 | FX Gain | fx_gain | Active |
Expenses
| Code | Account Name | Subtype | Status | Actions |
|---|---|---|---|---|
| 5000 | Cost of Goods Sold | cost_of_goods_sold | Active | |
| 5100 | Freight & Cartage In | cost_of_goods_sold | Active | |
| 5200 | Direct Labour | cost_of_goods_sold | Active | |
| 5500 | Production Overhead | cost_of_goods_sold | Active | |
| 6000 | Salaries & Wages | salaries_wages | Active | |
| 6010 | Teaching Staff Salaries | salaries_wages | Active | |
| 6020 | School Admin & Support Salaries | salaries_wages | Active | |
| 6100 | Rent | rent | Active | |
| 6200 | Utilities | utilities | Active | |
| 6250 | Property Maintenance & Repairs | repairs_maintenance | Active | |
| 6260 | School Supplies & Learning Materials | office_supplies | Active | |
| 6300 | Office Supplies | office_supplies | Active | |
| 6400 | Insurance | other | Active | |
| 6500 | Depreciation | depreciation | Active | |
| 6600 | Bank Charges | bank_charges | Active | |
| 6700 | Interest Expense | interest_expense | Active | |
| 6800 | Foreign Exchange Loss | fx_loss | Active | |
| 6900 | Sundry / General Expenses | other | Active | |
| 7000 | Marketing & Advertising | marketing | Active | |
| 7100 | Subscriptions & Software | other | Active | |
| 7200 | Training & Development | other | Active | |
| 7300 | Travel & Entertainment | other | Active | |
| 7400 | Motor Vehicle Expenses | other | Active | |
| 7500 | Repairs & Maintenance | other | Active | |
| 7600 | Staff Welfare | other | Active | |
| 7700 | Bad Debts & Impairment | other | Active | |
| 8000 | Professional Fees | professional_fees | Active | |
| 8100 | Audit & Accounting Fees | professional_fees | Active | |
| 8200 | Legal Fees | professional_fees | Active | |
| 8900 | Loss on Disposal | other | Active | |
| 9000 | Zakat / Corporate Tax | other | Active |