Free template

Chart of Accounts Template

Name: Small business chart of accounts template
Creator: Ledgerbrook
License: https://creativecommons.org/licenses/by/4.0/

A chart of accounts template for a small business: 50 numbered accounts from checking (1000) to other income (7100), each with its QuickBooks Online type and detail type, the Schedule C line it totals into, and a note on what belongs in it. Download it for Excel, or as a CSV that QuickBooks Online imports directly.

Download Excel (.xlsx)QuickBooks import CSV

No sign-up. Need it for a specific industry? See the industry versions.

Assets

1000s

No.	Account	QuickBooks type / detail	What goes here
1000	Business Checking	Bank Checking	Main operating account. Most deposits and payments run through it.
1010	Business Savings	Bank Savings	Tax set-aside and reserve money.
1020	Petty Cash	Bank Cash on Hand	Cash kept on the premises. Top it up from checking with a transfer.
1100	Accounts Receivable	Accounts Receivable (A/R) Accounts Receivable (A/R)	Invoices sent and not yet paid.
1200	Inventory	Other Current Assets Inventory	Goods bought for resale, at cost, until they sell.
1300	Prepaid Expenses	Other Current Assets Prepaid Expenses	Annual insurance or software paid up front, expensed month by month.
1500	Furniture and Equipment	Fixed Assets Machinery & Equipment	Computers, tools and furniture above your capitalization threshold.
1510	Vehicles	Fixed Assets Vehicles	Vehicles owned by the business, at purchase cost.
1590	Accumulated Depreciation	Fixed Assets Accumulated Depreciation	Depreciation taken to date on the fixed assets above. Carries a credit balance.

Liabilities

2000s

No.	Account	QuickBooks type / detail	What goes here
2000	Accounts Payable	Accounts Payable (A/P) Accounts Payable (A/P)	Vendor bills entered and not yet paid.
2100	Business Credit Card	Credit Card Credit Card	One account per card, so each can be reconciled to its statement.
2200	Sales Tax Payable	Other Current Liabilities Sales Tax Payable	Sales tax collected from customers and owed to the state.
2300	Payroll Liabilities	Other Current Liabilities Payroll Tax Payable	Withheld and employer payroll taxes not yet deposited.
2400	Customer Deposits	Other Current Liabilities Other Current Liabilities	Money received before the work is done. Becomes income when you deliver.
2700	Loan Payable	Long Term Liabilities Notes Payable	Bank or SBA loan balance. Only the interest is an expense.

Equity

3000s

No.	Account	QuickBooks type / detail	What goes here
3000	Owner's Equity	Equity Owner's Equity	What the owner put in to start the business.
3100	Owner Contributions	Equity Owner's Equity	Personal money put into the business later. Not income.
3200	Owner Draws	Equity Owner's Equity	Money the owner takes out. Not an expense, and not on Schedule C.
3900	Retained Earnings	Equity Retained Earnings	Prior years' profit. QuickBooks closes the year into it automatically.

Income

4000s and 7000s

No.	Account	QuickBooks type / detail	Sch. C	What goes here
4000	Sales	Income Sales of Product Income	1	Revenue from products sold.
4100	Service Income	Income Service/Fee Income	1	Revenue from work billed to customers.
4900	Refunds and Discounts Given	Income Discounts/Refunds Given	2	Returns and allowances. Reduces gross receipts on line 2.
7000	Interest Income	Other Income Interest Earned		Interest on business bank accounts. Usually reported on Schedule B, not Schedule C.
7100	Other Income	Other Income Other Miscellaneous Income	6	Income outside normal operations, such as a refund of a prior-year expense.

Cost of goods sold

5000s

No.	Account	QuickBooks type / detail	Sch. C	What goes here
5000	Cost of Goods Sold	Cost of Goods Sold Supplies & Materials - COGS	4	What the products you sold cost you.
5100	Subcontractors	Cost of Goods Sold Cost of Labor - COS	4	1099 contractors who do the customer work. Track W-9s.
5200	Shipping and Delivery	Cost of Goods Sold Shipping, Freight & Delivery - COS	4	Freight in and shipping to customers.

Expenses

6000s

No.	Account	QuickBooks type / detail	Sch. C	What goes here
6000	Advertising and Marketing	Expenses Advertising/Promotional	8	Ads, website, printing, sponsorships.
6050	Bank Fees	Expenses Bank Charges	27b	Monthly account fees, wire and overdraft fees.
6100	Car and Truck	Expenses Auto	9	Fuel and repairs, or the standard mileage rate. Not both.
6150	Commissions and Fees	Expenses Other Business Expenses	10	Sales commissions, card processing and marketplace fees.
6200	Contract Labor	Expenses Other Business Expenses	11	Contractors for admin or overhead work, not customer jobs.
6250	Depreciation	Other Expense Depreciation	13	Annual depreciation on fixed assets. Usually one entry at year end.
6300	Dues and Subscriptions	Expenses Dues & Subscriptions	27b	Software, memberships, trade publications.
6350	Insurance	Expenses Insurance	15	General liability, property, workers comp. Not the owner's health insurance.
6400	Interest Expense	Expenses Interest Paid	16c	Interest on business loans and cards. Vehicle loan interest goes on 16b; principal goes to the liability.
6450	Legal and Professional Fees	Expenses Legal & Professional Fees	17	Accountant, bookkeeper, attorney.
6500	Meals	Expenses Travel Meals	24b	Business meals. Usually 50% deductible, so keep them apart from travel.
6550	Office Expenses	Expenses Office/General Administrative Expenses	18	Postage, small office items, printer ink.
6600	Payroll Wages	Expenses Payroll Expenses	26	Gross wages paid to employees. Owner draws never go here.
6610	Payroll Taxes	Expenses Payroll Expenses	23	Employer share of Social Security, Medicare and unemployment tax.
6620	Employee Benefits	Expenses Payroll Expenses	14	Employee health insurance and other benefit programs.
6650	Rent or Lease	Expenses Rent or Lease of Buildings	20b	Office, shop or storage rent.
6660	Equipment Rental	Expenses Equipment Rental	20a	Short-term rental of machinery and equipment.
6700	Repairs and Maintenance	Expenses Repair & Maintenance	21	Keeping property and equipment working. Improvements are fixed assets.
6750	Supplies	Expenses Supplies & Materials	22	Materials used up in the business that aren't part of products sold.
6800	Taxes and Licenses	Expenses Taxes Paid	23	Business licenses, property tax, state fees. Not federal income tax.
6850	Travel	Expenses Travel	24a	Airfare, hotels and transport for overnight business trips.
6900	Utilities	Expenses Utilities	25	Electric, water, phone and internet for the business.
6950	Uncategorized Expense	Expenses Other Miscellaneous Service Cost	27b	A holding account. Should be empty at month end.

Before you import

Make it yours in four steps

01
Delete what you won't use
No inventory? Drop 1200 and the cost of goods sold block. No employees? Drop the payroll accounts. An empty account is clutter on every report.
02
Add one account per bank account and card
Each needs its own so it can be reconciled to its statement. Number them 1001, 1002 and 2101, 2102.
03
Split income the way you want to read it
Add a 4000-series account for each product line or service you want to see on its own row of the profit and loss.
04
Keep the type and detail type
Rename freely, but the QuickBooks type decides which report an account lands on. Change it and the balance sheet can come out wrong.

By industry

Industry charts of accounts

Some industries need accounts a general list leaves out: retainage for contractors, trust accounts for law firms and property managers, restricted funds for nonprofits.

Starting a new file?

Have the QuickBooks file built for you

Ledgerbrook sets up QuickBooks Online with a chart of accounts fitted to your business, bank feeds connected and opening balances entered, for $199 one-time.

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Frequently asked

Chart of accounts template FAQ

How do I create a chart of accounts for a small business?

Start from a standard list like this one and cut it down. Give each bank account and credit card its own account, add the income lines you want to see separately, and keep expense accounts close to the tax return's lines so year-end totals need no regrouping. Number the accounts in blocks (1000s for assets through 6000s for expenses) so new ones slot in without renumbering.

How many accounts should a small business chart of accounts have?

Fewer than most people think. Thirty to sixty accounts covers most small businesses. Add one only when you will read it on a report, or when the tax return needs it apart. A separate account for every vendor or every month makes the profit and loss harder to read, not easier.

What is the best way to number a chart of accounts?

Four digits, in blocks by type: 1000s assets, 2000s liabilities, 3000s equity, 4000s income, 5000s cost of goods sold, 6000s expenses, 7000s other income and expense. Leave gaps of 10 to 50 between accounts so a new one can go where it belongs. In QuickBooks Online, turn on account numbers under Settings, Advanced, Chart of accounts.

How do I import a chart of accounts into QuickBooks Online?

Download the QuickBooks CSV from this page. In QuickBooks Online, go to Settings, Import data, Chart of accounts, upload the file and match the four columns: account number, name, type and detail type. Review the preview, then import. Accounts that QuickBooks already created, such as Retained Earnings, may show as duplicates; skip those rows.

Does this chart of accounts work for an LLC or an S corporation?

Yes. The Schedule C column applies to sole proprietors and single-member LLCs. For an S corporation, rename Owner Contributions and Owner Draws to shareholder contributions and distributions, and pay the owner through Payroll Wages. Partnerships use a capital and a draw account for each partner.

Can I use this chart of accounts in Excel or Google Sheets instead of QuickBooks?

Yes. The Excel file lists every account with its type, detail type, Schedule C line and what goes in it. To keep books in a spreadsheet, the small business bookkeeping template uses the same Schedule C categories.