Accounting Talk Accounting Talk    FAQ   Search   Memberlist   Usergroups   Register   Profile   Log in to check your private messages   Log in  Chart of Accounts - Account Number Arbitrary?          Accounting Talk Forum Index -> Quickbooks View previous topic :: View next topic   Author Message Robert G. Hoover Guest Posted: Thu Apr 17, 2008 9:45 pm    Post subject: Chart of Accounts - Account Number Arbitrary? 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 Back to top   Ads Advertising Sponsor QBConsultant Guest Posted: Fri Apr 18, 2008 12:38 am    Post subject: Re: Chart of Accounts - Account Number Arbitrary? On Apr 17, 11:45 am, "Robert G. Hoover" <not.a.real.address@sorry> wrote: Quote: 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 Back to top   Ads Advertising Sponsor Robert G. Hoover Guest Posted: Thu Apr 24, 2008 1:16 am    Post subject: Re: Chart of Accounts - Account Number Arbitrary? 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: Quote: On Apr 17, 11:45 am, "Robert G. Hoover" <not.a.real.address@sorry 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 Back to top   Ads Advertising Sponsor Display posts from previous: All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First         Accounting Talk Forum Index -> Quickbooks All times are GMT Page 1 of 1   Jump to: Select a forum Accounting Talk----------------Accounting TalkPeachtreeQuickbooksQuicken  You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum 68 Attacks blocked Powered by phpBB © 2001, 2005 phpBB Group