Chart of accounts

Every posting lands on one of these accounts. Balances are live from the journal.

Updating…

Code	Account	Type	Balance
1000	Cash & cash equivalents	Assets	$762,489.80
1010	Cash on hand	Assets	$10,616.71
1020	Operating — First Merchants Bank	Assets	$477,382.63
1030	Payroll — First Merchants Bank	Assets	$18,200.00
1040	Savings — Heritage Savings Union	Assets	$256,290.46
1100	Receivables	Assets	$498,326.05
1110	Accounts receivable	Assets	$503,676.05
1120	Allowance for doubtful accounts (contra)	Assets	($5,350.00)
1200	Inventory & prepaids	Assets	$232,590.00
1210	Prepaid expenses	Assets	$16,050.00
1220	Inventory on hand	Assets	$216,540.00
1300	Property & equipment	Assets	$100,519.50
1310	Equipment & furniture	Assets	$86,400.00
1320	Computer equipment	Assets	$80,200.00
1330	Accumulated depreciation (contra)	Assets	($66,080.50)
1400	Other assets	Assets	$89,345.55
1410	Sales tax recoverable	Assets	$77,345.55
1420	Security deposits	Assets	$12,000.00
2000	Current liabilities	Liabilities	$351,254.34
2010	Accounts payable	Liabilities	$238,293.48
2020	Accrued expenses	Liabilities	$15,400.00
2030	Sales tax payable	Liabilities	$77,915.74
2040	Payroll liabilities	Liabilities	$0.00
2050	Customer deposits	Liabilities	$19,645.12
2100	Long-term liabilities	Liabilities	$115,119.77
2110	Bank loan — equipment	Liabilities	$115,119.77
3000	Equity	Equity	$863,430.00
3010	Share capital	Equity	$250,000.00
3020	Retained earnings	Equity	$613,430.00
4000	Operating revenue	Revenue	$2,027,076.76
4010	Product sales	Revenue	$1,977,752.51
4020	Service & delivery revenue	Revenue	$51,664.25
4090	Sales returns & allowances (contra)	Revenue	($2,340.00)
4900	Other income	Revenue	$7,530.46
4910	Interest income	Revenue	$6,290.46
4920	Miscellaneous income	Revenue	$1,240.00
5000	Cost of goods sold	Expenses	$957,249.28
5010	Purchases — resale goods	Expenses	$917,142.14
5020	Freight & delivery in	Expenses	$40,107.14
6000	Operating expenses	Expenses	$681,909.84
6010	Wages & salaries	Expenses	$334,390.12
6020	Rent	Expenses	$84,500.00
6030	Utilities	Expenses	$16,738.84
6040	Marketing & advertising	Expenses	$91,278.22
6050	Software subscriptions	Expenses	$47,057.05
6060	Insurance	Expenses	$29,539.46
6070	Office & shop supplies	Expenses	$9,820.60
6080	Professional fees	Expenses	$28,822.77
6090	Depreciation expense	Expenses	$24,880.50
6100	Bank & card fees	Expenses	$2,782.59
6110	Travel & meals	Expenses	$9,999.69
6120	Bad debt expense	Expenses	$2,100.00
6900	Other expenses	Expenses	$41,981.31
6910	Interest expense	Expenses	$7,619.77
6920	Income tax expense	Expenses	$34,361.54