Basic Chart of Accounts

Summary

The Basic Chart of Accounts cover all fundamental main account codes required to run a business. This would primarily be for new companies.

Some key benefits are:

Huge time saving for the implementation with ‘out of the box’ accounts
Includes the relevant codes required for the system posting tables
Code descriptions can be change as required
New codes can be added and existing codes removed
The coding allows for new codes to be introduced between existing codes
System standard default reports are built for this structure
Utilise Financial Dimensions for greater reporting depth
These code are ready for instant import into Dynamics 365

For reference, the headers are:

MAIN ACCOUNT : The unique numeric character for the code. For this Chart of Account, six numeric characters have been assigned
DESCRIPTION : The code description – this can be amended
MAIN ACCOUNT TYPE : This groups the codes together for the highest possible reporting level – Profit and Loss and Balance Sheet.
MAIN ACCOUNT CATEGORY : This is the second highest level report grouping. These categories are default in Dynamics 365 but can be added/amended as required.
CURRENCY : This represents the currency of the main account code

Profit and Loss Accounts

Main Account	Description	Main Account Type	Main Account Category	Currency
401100	Product Type 1 Sales	Profit and loss	SALES	GBP
401110	Product Type 2 Sales	Profit and loss	SALES	GBP
401120	Product Type 3 Sales	Profit and loss	SALES	GBP
401130	Product Type 4 Sales	Profit and loss	SALES	GBP
401180	Sales – Intercompany	Profit and loss	SALES	GBP
401190	Sales – Other	Profit and loss	SALES	GBP
401200	Service Revenues	Profit and loss	SALES	GBP
401400	Accrued Sales (Shipped Not Invoiced)	Profit and loss	SALES	GBP
401410	Offset accrued sales (shipped not invoiced)	Profit and loss	SALES	GBP
401420	Accrued sales (Packing slip) – Intercompany	Profit and loss	SALES	GBP
401430	Offset accrued sales (Packing slip) – Intercompany	Profit and loss	SALES	GBP
402900	TOTAL SALES	Total		GBP
403150	Miscellaneous Charges	Profit and loss	OTHERINC	GBP
403300	Supplier Discounts	Profit and loss	OTHERINC	GBP
403500	Delivery Charges	Profit and loss	OTHERINC	GBP
403900	TOTAL OTHER INCOME	Total		GBP
409999	TOTAL INCOME	Total		GBP
500100	COGS – Product Type 1	Profit and loss	COGS	GBP
510110	COGS – Product Type 2	Profit and loss	COGS	GBP
510120	COGS – Product Type 3	Profit and loss	COGS	GBP
510130	COGS – Product Type 4	Profit and loss	COGS	GBP
510300	Other variances to standard cost	Profit and loss	COGS	GBP
510310	Purchase Price Variance	Profit and loss	COGS	GBP
510320	Cost Change Variance	Profit and loss	COGS	GBP
510330	Inventory Cost Revaluation	Profit and loss	COGS	GBP
510800	Cost of returned goods	Profit and loss	COGS	GBP
519900	TOTAL COST OF GOODS	Total		GBP
599900	GROSS PROFIT	Total		GBP
550110	Project management	Profit and loss	MANUEXP	GBP
550120	Service	Profit and loss	MANUEXP	GBP
550130	Hotel	Profit and loss	MANUEXP	GBP
550140	Flights	Profit and loss	MANUEXP	GBP
550150	Transport Other	Profit and loss	MANUEXP	GBP
550160	Miscellaneous Cost	Profit and loss	MANUEXP	GBP
551100	Picking list issue	Profit and loss	MANUEXP	GBP
551110	Picking list issue offset	Profit and loss	MANUEXP	GBP
551160	Parts receipts	Profit and loss	MANUEXP	GBP
560100	Cash Discounts Taken	Profit and loss	MANUEXP	GBP
560110	Cash Discounts Received	Profit and loss	MANUEXP	GBP
600120	Freight/transportation in	Profit and loss	MANUEXP	GBP
600140	Freight Expense – Intercompany	Profit and loss	MANUEXP	GBP
600150	Other miscellaneous Expenses	Profit and loss	MANUEXP	GBP
600160	Delivered Sales Un-Invoiced	Profit and loss	MANUEXP	GBP
600161	Delivered Sales Un-invoiced – Intercompany	Profit and loss	MANUEXP	GBP
600180	Raw materials receipts	Profit and loss	MANUEXP	GBP
600181	Discount & Allowances Received	Profit and loss	MANUEXP	GBP
600200	Repairs & maintenance Expense	Profit and loss	MANUEXP	GBP
600250	Salaries manufacturing	Profit and loss	MANUEXP	GBP
600300	Payroll allocation	Profit and loss	MANUEXP	GBP
600350	Payroll allocation service	Profit and loss	MANUEXP	GBP
600900	TOTAL MANUFACTURING EXPENSES	Total		GBP
601200	Selling Expense	Profit and loss	SELLEXP	GBP
601300	Advertising Expense	Profit and loss	SELLEXP	GBP
601500	Travel Expense	Profit and loss	TANDEEXP	GBP
601501	Car Rental Expenses	Profit and loss	TANDEEXP	GBP
601502	Conference Account	Profit and loss	TANDEEXP	GBP
601503	Entertainment Expenses	Profit and loss	TANDEEXP	GBP
601504	Flight Expenses	Profit and loss	TANDEEXP	GBP
601505	Fuel Expenses	Profit and loss	TANDEEXP	GBP
601506	Hotel Expenses	Profit and loss	TANDEEXP	GBP
601507	Employee Meals	Profit and loss	TANDEEXP	GBP
601508	Mileage Expenses	Profit and loss	TANDEEXP	GBP
601509	Perdiem	Profit and loss	TANDEEXP	GBP
601600	Promotional Expense	Profit and loss	SELLEXP	GBP
601900	TOTAL SELLING & AND EXPENSES	Total		GBP
602100	Salaries	Profit and loss	SALARYEXP	GBP
602120	Payroll Tax Expense	Profit and loss	OTHEREMPEXP	GBP
602130	Group Health/Life Insurance Expense	Profit and loss	OTHEREMPEXP	GBP
602140	Workers Compensation Expense	Profit and loss	OTHEREMPEXP	GBP
602150	Commission Expense	Profit and loss	OTHEREMPEXP	GBP
602160	Contractor Expense	Profit and loss	OTHEREMPEXP	GBP
602180	Pension/Profit-Sharing Plan Expense	Profit and loss	OTHEREMPEXP	GBP
602190	Employee Benefit Programs Expense	Profit and loss	OTHEREMPEXP	GBP
602200	Training and Personal Development Expense	Profit and loss	OTHEREMPEXP	GBP
602210	Employee Relocation Expense	Profit and loss	OTHEREMPEXP	GBP
602900	TOTAL PERSONNEL EXPENSES	Total		GBP
604100	Fuel & Oil Expense	Profit and loss	ADMINEXP	GBP
604200	License & Registration Fees Expense	Profit and loss	ADMINEXP	GBP
604300	Vehicle Repairs & Maintenance Expense	Profit and loss	ADMINEXP	GBP
604400	Vehicle Insurance Expense	Profit and loss	ADMINEXP	GBP
604500	Vehicle Lease Expense	Profit and loss	ADMINEXP	GBP
604900	TOTAL VEHICLE EXPENSES	Total		GBP
605110	Cleaning Expense	Profit and loss	ADMINEXP	GBP
605120	Electricity Expense	Profit and loss	ADMINEXP	GBP
605130	Insurance Building & Property Expense	Profit and loss	ADMINEXP	GBP
605140	Repairs and Maintenance	Profit and loss	ADMINEXP	GBP
605150	Rent Expense	Profit and loss	ADMINEXP	GBP
605160	Utilities Expense	Profit and loss	ADMINEXP	GBP
605170	Equipment Lease Expense	Profit and loss	ADMINEXP	GBP
605180	Storage Supplies Expense	Profit and loss	ADMINEXP	GBP
605190	Recycling Expense	Profit and loss	ADMINEXP	GBP
605900	TOTAL BUILDING & MAINT. EXPENSES	Total		GBP
606200	Insurance Expense	Profit and loss	ADMINEXP	GBP
606300	Office Supplies Expense	Profit and loss	ADMINEXP	GBP
606400	Telephone & Fax Expense	Profit and loss	ADMINEXP	GBP
606500	Postage Expense	Profit and loss	ADMINEXP	GBP
606600	Printing Expense	Profit and loss	ADMINEXP	GBP
606700	Moving Expense	Profit and loss	ADMINEXP	GBP
606900	TOTAL ADMINISTRATIVE EXPENSES	Total		GBP
607100	Depreciation Expense – Intangible Assets	Profit and loss	DEPREXP	GBP
607200	Depreciation Expense – Tangible Assets	Profit and loss	DEPREXP	GBP
607900	TOTAL DEPRECIATION EXPENSES	Total		GBP
608220	Payroll Taxes Expense	Profit and loss	TAXEXP	GBP
608230	Corporation Tax Expense	Profit and loss	TAXEXP	GBP
608235	VAT Expense	Profit and loss	TAXEXP	GBP
608990	TOTAL TAX EXPENSES	Total		GBP
618160	Rounding difference	Profit and loss	OTHEREXP	GBP
618170	Bad Dept Expense	Profit and loss	OTHEREXP	GBP
618180	Legal & Accounting Expense	Profit and loss	OTHEREXP	GBP
618190	Bank Fees Expense	Profit and loss	OTHEREXP	GBP
618200	Research & Development Expense	Profit and loss	OTHEREXP	GBP
618300	Consulting Service Expense	Profit and loss	OTHEREXP	GBP
618400	Penalties and Fines Expenses	Profit and loss	OTHEREXP	GBP
618500	Charitable Contributions Expense	Profit and loss	OTHEREXP	GBP
618900	Miscellaneous Expense	Profit and loss	OTHEREXP	GBP
619000	Other costs of operations	Profit and loss	OTHEREXP	GBP
619900	TOTAL OTHER EXPENSES	Total		GBP
699900	TOTAL OPERATING EXPENSES	Total		GBP
699990	NET OPERATING INCOME	Total		GBP
700100	Bank Interest Received	Profit and loss	OTHERINC	GBP
700300	Other Interest income	Profit and loss	OTHERINC	GBP
800200	Interest on bank loans	Profit and loss	INTEXP	GBP
800300	Mortgage interest	Profit and loss	INTEXP	GBP
800500	Interest on bank accounts	Profit and loss	INTEXP	GBP
800900	TOTAL INTEREST EXPENSES	Total		GBP
801100	Currency gain & loss	Profit and loss	GAINLOSSASSET	GBP
801900	TOTAL GAINS & LOSSES	Total		GBP
899990	NET PROFIT	Total		GBP
999999	Suspense Account	Profit and loss	OTHERASSET	GBP

Balance Sheet Accounts

Main Account	Description	Main Account Type	Main Account Category	Currency
110101	Cash Advance Returns	Balance sheet	CASH	GBP
110110	Bank Account 1	Balance sheet	CASH	GBP
110120	Bank Account 2	Balance sheet	CASH	GBP
110141	Bank Account – USD	Balance sheet	CASH	USD
110150	Bank Account – EUR	Balance sheet	CASH	EUR
110151	GBP Cash Advances Account	Balance sheet	CASH	GBP
110180	Petty Cash	Balance sheet	CASH	GBP
119000	TOTAL CASH & CASH EQUIVALENTS	Total		GBP
130100	Debtors Control Account	Balance sheet	AR	GBP
130200	Debtors Control Account – USD	Balance sheet	AR	USD
130300	Debtors Control Account – EUR	Balance sheet	AR	EUR
130350	Intercompany Debtors	Balance sheet	AR	GBP
130400	Credit Card Debtors	Balance sheet	AR	GBP
130700	Other Debtors	Balance sheet	AR	GBP
130900	TOTAL DEBTORS	Total		GBP
131100	Prepaid Expenses	Balance sheet	PREPAIDEXP	GBP
131200	Prepaid Insurance	Balance sheet	PREPAIDEXP	GBP
131300	Advances	Balance sheet	OTHERCA	GBP
131400	Prepaid Commissions	Balance sheet	PREPAIDEXP	GBP
139990	TOTAL OTHER CURRENT ASSETS	Total		GBP
140120	Inventory Receipts	Balance sheet	INV	GBP
140150	Inventory Issues	Balance sheet	INV	GBP
140170	Inventory Returns	Balance sheet	INV	GBP
141120	Services receipts	Balance sheet	INV	GBP
141150	Services issues	Balance sheet	INV	GBP
141170	Services returns	Balance sheet	INV	GBP
141250	Misc. receipts/issues	Balance sheet	INV	GBP
141270	Misc. returns	Balance sheet	INV	GBP
142100	Inventory Clearing – Received, un-invoiced	Balance sheet	INV	GBP
142200	Inventory Clearing – Received, un-invoiced – Intercompany	Balance sheet	INV	GBP
142300	Inventory Clearing – Shipped, un-invoiced	Balance sheet	INV	GBP
142400	Inventory Clearing – Shipped, un-invoiced – Intercompany	Balance sheet	INV	GBP
142500	Deferred Expense	Balance sheet	INV	GBP
142600	Deferred Expense – Intercompany	Balance sheet	INV	GBP
149990	TOTAL PHYSICAL INVENTORY	Total		GBP
150100	Production WIP	Balance sheet	WIP	GBP
150690	Purchase Accrual	Profit and loss	WIP	GBP
150900	TOTAL INVENTORY PRODUCTION	Total		GBP
150990	TOTAL INVENTORY	Total		GBP
170150	Goodwill	Balance sheet	INTANASSET	GBP
170250	Development	Balance sheet	INTANASSET	GBP
170900	Amortisation – Intangible assets	Balance sheet	AMORTINTAGASSET	GBP
179900	TOTAL INTANGIBLE ASSETS	Total		GBP
180100	Computer Equipment	Balance sheet	PPE	GBP
180200	Accumulated depreciation – Computer Equipment	Balance sheet	ACCUDEP	GBP
180210	Accumulated depreciation – Furniture & Fixtures	Balance sheet	ACCUDEP	GBP
180220	Accumulated depreciation – Plant & Equipment	Balance sheet	ACCUDEP	GBP
180230	Accumulated depreciation – Office Hardware	Balance sheet	ACCUDEP	GBP
180240	Amortisation- Patents	Balance sheet	ACCUDEP	GBP
180250	Accumulated Depreciation – Vehicles	Balance sheet	ACCUDEP	GBP
180260	Accumulated Depreciation – Buildings	Balance sheet	ACCUDEP	GBP
180270	Accumulated Depletion – Land	Balance sheet	ACCUDEP	GBP
180280	Deferred Tax Assets, Long-term	Balance sheet	OTHERASSET	GBP
180290	Revaluation adjustment	Balance sheet	ACCUDEP	GBP
180300	Disposal fixed assets	Balance sheet	PPE	GBP
180400	Accumulated write up	Balance sheet	PPE	GBP
180500	Accumulated write down	Balance sheet	PPE	GBP
180700	Revaluation adjustment	Balance sheet	PPE	GBP
180900	TOTAL TANGIBLE FIXED ASSETS	Total		GBP
199990	TOTAL ASSETS	Total		GBP
211100	Creditors Control	Balance sheet	AP	GBP
211200	Creditors Control – USD	Balance sheet	AP	USD
211210	Creditors Control – EUR	Balance sheet	AP	EUR
211225	Intercompany Payable	Liability	AP	GBP
211300	Creditors Control – Other	Balance sheet	AP	GBP
211310	Invoice Pending Approval	Balance sheet	AP	GBP
211320	Offset Invoice Pending Approval	Balance sheet	AP	GBP
211350	Accrued purchases	Balance sheet	OTHERCURLIA	GBP
211400	Accrued purchases – Intercompany	Balance sheet	OTHERCURLIA	GBP
211410	Salaries and wages payable	Balance sheet	OTHERCURLIA	GBP
211500	Commissions payable	Balance sheet	OTHERCURLIA	GBP
211550	Payroll benefits payable	Balance sheet	OTHERCURLIA	GBP
211600	Dividends payable	Balance sheet	DIVPAY	GBP
211650	Freight payable	Balance sheet	OTHERCURLIA	GBP
211700	Payroll deductions payable	Balance sheet	OTHERCURLIA	GBP
211950	Employee benefits payable	Balance sheet	OTHERCURLIA	GBP
212100	Short term interest payable	Balance sheet	INTPAY	GBP
212150	Prepayment of service subscription fee	Balance sheet	OTHERCURLIA	GBP
212160	Customer deposits	Balance sheet	OTHERCURLIA	GBP
212990	TOTAL ACCOUNTS PAYABLE	Total		GBP
220110	VAT Payable	Balance sheet	TAXPAY	GBP
220120	Corporation Tax Payable	Balance sheet	TAXPAY	GBP
229900	TOTAL TAXES PAYABLE	Total		GBP
240200	Other liabilities	Balance sheet	OTHERCURLIA	GBP
240300	Reserve for deferred profit on assets	Balance sheet	OTHERCURLIA	GBP
240900	TOTAL OTHER LIABILITIES	Total		GBP
249900	TOTAL SHORT TERM LIABILITIES	Total		GBP
250100	Longterm Bank Loans	Balance sheet	LONGTERMDEBT	GBP
250400	Longterm Interest Payable	Balance sheet	LONGTERMDEBT	GBP
250500	Deferred Income Tax	Balance sheet	LONGTERMDEBT	GBP
250600	Deferred Revenue	Revenue	LONGTERMDEBT	GBP
250900	TOTAL LONG TERM LIABILITIES	Total		GBP
250990	TOTAL LIABILITIES	Total		GBP
300110	Capital Stock	Balance sheet	COMMONSTOCK	GBP
300120	Paid-in Capital	Balance sheet	ADDPAIDINCAPCOM	GBP
300130	Dividends Paid	Balance sheet	RETEARN	GBP
300146	Appropriations	Balance sheet		GBP
300155	Revaluation reserve of fixed assets	Balance sheet	RETEARN	GBP
300160	Retained earnings	Balance sheet	RETEARN	GBP
300190	NET PROFIT FOR THE YEAR	Total		GBP
309900	TOTAL SHAREHOLDERS EQUITY	Total		GBP
309990	TOTAL LIABILITIES & SHAREHOLDERS EQUITY	Total		GBP
399990	BALANCE SHEET TOTAL	Total		GBP