#QUICKBOOK STANDARD ACCOUNTS SOFTWARE#
#QUICKBOOK STANDARD ACCOUNTS CODE#

Here is some tips to keep in mind as you build your COA: Chart of Account Naming and Numbering TipsĪs I stated in the beginning of this article, your chart of accounts is important as it is the foundation of your entire accounting system.However, I always advise my clients to start out simple and only with the accounts they are currently using as a COA is definitely a 'work in progress'. The 6000's operating expenses can be grouped even more detailed with group or parent accounts such as Administration, Payroll, Facilities/Grounds, Programs/Ministries, etc.ħ000 - 7999: Non-operating Expenses: ( eg: missions, ministries, etc.)Ĩ000s: Ask My Accountant: a place to record transactions you don’t know what to do with and you want to review with your accountant reassigned. I don't personally use 5's for expenses as I use 5000's for my for-profit clients' Cost of Goods accounts.Ħ000 - 6999: Operating/Functional Expenses ( eg: facilities, salaries, administration, etc.) BUT some organizations use 5s for expenses. Some churches and nonprofits use them for earned revenues such as program service fees, membership dues, fundraisers, interest, fixed asset sales. Use your own group numbering for these 4000s.just be consistent.ĥ000s are another example of different organizations using different numbers.

#QUICKBOOK STANDARD ACCOUNTS CODE#

*Use the discount code FCA for a 10% savings!Ģ000 - 2499: Current liabilities ( obligations payable within one year Ģ500 + Longterm liabilities ( eg: mortgage payable and vehicle payable)Īgain.this is just an example. I highly recommend 'The Accountant Beside You' QB ONLINE COURSES Want to set up QuickBooks Online for your church or nonprofit, but do not know where to even begin? Let Lisa London, CPA and author of QuickBooks for Churches and Nonprofits, take you step by step through setting it up and using QBO for your church or nonprofit organization in her online courses! you would probably use 1200s)ġ400 - 1499: Prepaid Assets (eg: insurance, postage, etc.)ġ700 - 1799: Fixed Assets ( eg: Land, Buildings, Equipment, etc.)ġ800 - 1899: Accumulated Depreciation (if you track depreciation)

#QUICKBOOK STANDARD ACCOUNTS SOFTWARE#

Just use the main number used universally and using the remaining digits consistently.ġ000 - 1199: Cash and Investments ( list your bank account(s) first then investments)ġ200 - 1299: Undeposited funds ( use this if you are using QuickBooks or something similar)ġ300 - 1399: Receivables ( if you were using an accounting software such as Aplos.

All will appear in the same order (eg: ASSETS: Cash, Undeposited Funds, Receivables, Current Assets, Fixed Assets, etc.) BUT the number grouping will be different, so just remember you can use any numbering system you deem appropriate. Note: if you did an internet search on chart of accounts (COA) numbering.you would find the basic number system above.but when you start drilling it down.you will see a variety of numbering systems. The account numbers are usually 5 or more digits, so we can break out those main category of numbers into more detailed groups. Account numbers are often five or more digits in length with each digit representing a division of the company, the department, the type of account, etc.

Quickbook standard accounts