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Subject Author Date
Chart of Accounts - Account Number Arbitrary? Robert G. Hoover 04-17-2008
Posted by Robert G. Hoover on April 17, 2008, 12:45 pm
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 Are the label Numbers for each account arbitrary in the Chart of
Accounts? For example, QB provides these by default...

15000 - Furniture and Equipment
17000 - Accumulated Depreciation
24000 - Payroll Liabilities
25500 - Sales Tax Payable
30000 - Opening Balance Equity
...
47900 - Sales
...
51100 - Freight and Shipping Costs
...
66000 - Payroll Expenses
...
68100 - Telephone Expenses
68400 - Travel Expenses
68600 - Utilities
80000 - Ask My Accountant
90000 - Estimates

Is this a known CPA labeling/numbering convention? Or are these numbers
completely arbitrary?

Thanks!

Rob

Posted by QBConsultant on April 17, 2008, 8:38 pm
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 wrote:
> Are the label Numbers for each account arbitrary in the Chart of
> Accounts? For example, QB provides these by default...
>
> 15000 - Furniture and Equipment
> 17000 - Accumulated Depreciation
> 24000 - Payroll Liabilities
> 25500 - Sales Tax Payable
> 30000 - Opening Balance Equity
> ...
> 47900 - Sales
> ...
> 51100 - Freight and Shipping Costs
> ...
> 66000 - Payroll Expenses
> ...
> 68100 - Telephone Expenses
> 68400 - Travel Expenses
> 68600 - Utilities
> 80000 - Ask My Accountant
> 90000 - Estimates
>
> Is this a known CPA labeling/numbering convention? Or are these numbers
> completely arbitrary?
>
> Thanks!
>
> Rob

100 assets
200 liabilities
300 equity
400 income
500 cogs
600 expenses
etc.

Shhhhhhhh! It is part of the accountant's secret code!

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-Startin=
g/dp/1434810690


Posted by Robert G. Hoover on April 23, 2008, 4:16 pm
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Thanks Michelle... your secret is safe with me.... :D

I just want to set up my accounting so that our CPA will be familiar
with the numbering scheme. It sounds like I'm on the right track... :)


QBConsultant wrote:
> wrote:
>> Are the label Numbers for each account arbitrary in the Chart of
>> Accounts? For example, QB provides these by default...
>>
>> 15000 - Furniture and Equipment
>> 17000 - Accumulated Depreciation
>> 24000 - Payroll Liabilities
>> 25500 - Sales Tax Payable
>> 30000 - Opening Balance Equity
>> ...
>> 47900 - Sales
>> ...
>> 51100 - Freight and Shipping Costs
>> ...
>> 66000 - Payroll Expenses
>> ...
>> 68100 - Telephone Expenses
>> 68400 - Travel Expenses
>> 68600 - Utilities
>> 80000 - Ask My Accountant
>> 90000 - Estimates
>>
>> Is this a known CPA labeling/numbering convention? Or are these numbers
>> completely arbitrary?
>>
>> Thanks!
>>
>> Rob
>
> 100 assets
> 200 liabilities
> 300 equity
> 400 income
> 500 cogs
> 600 expenses
> etc.
>
> Shhhhhhhh! It is part of the accountant's secret code!
>
> Michelle L. Long, CPA, MBA
> Author of: Successful QuickBooks Consulting: The Complete Guide to
> Starting and Growing a QuickBooks Consulting Business
> http://www.SuccessfulQuickBooksConsulting.com
>
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-Starting/dp/1434810690
>

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