descriptive chart of accounts model template
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Descriptive Chart of Accounts Model Template for Indian Company required for Tally or any ERP SoftwareTRANSCRIPT
Descriptive Chart of Accounts Descriptive Account Codes1 . Share Capital and Liabilities
11 Share Capital
12 Reserves and Surplus
13 Secured Loans
14 Unsecured Loans
15 Current Liabilities
16 Provisions
2. Assets
21 Fixed Assets
22 Depreciation
23 Investments
24 Inventories
25 Receivables/Sundry Debtors
26 Loans and Advances
27 Other Current Assets
28 Cash and Bank Balances
29 Misc. Expenditure( To the extent not written off)
3. Materials and Other Variable Costs
31 Raw materials-Local
32 Raw Materials-Imported
33 Other Charges
34 Excise
35 Packing Material
36 Freight
37 Customs Duty
4 Staff and Works Expenses
41 Salaries, Wages and Bonus
42 Retirement Benefits(PF/Gratuity/Superannuation)
43 Other Welfare Expenses
44 Maintenance Expenses
45 Stores and Consumables
46 Power and Fuel
47 Rent, Rates and taxes
48 Depreciation
Descriptive Chart of Accounts (contd.)Descriptive Account Codes (contd.)5 . Administrative Expenses
51 Insurance
52 Technical Fees
53 Travelling
54 Communications
55 Printing and Stationery
56 Books and Periodicals
57 Legal and Professional Fees
6. Advertisement, Sales Promotion and Selling Expenses
61 Advertisements
62 Sales Promotion
63 Other Selling Expenses
64 Allowance for doubtful debts
65 Discounts and Commission
7. Finance Charges
71 Bank charges
72 Interest on Term Loans
73 Interest On Overdraft Limit
74 Interest on Cash Credit Limit
8 Sales Income
81 Sales Income
82 Recoveries on account of excise
83 Recoveries on account of packing and freight
84 Service Income
9 Non Operational Income and Expenditure and Adjustment entries
91 Sale of Scrap
92 Income from Investments
93 Interest Received
94 Export Incentives
95 Income from Sale of Fixed Assets
96 Adjustments on account of Previous years
99 Suspense Account
Detailed
Chart of Accounts
(Illustrative) 1 SHARE CAPITAL AND LIABILITIES
110 Share Capital
111 Equity Shares
112 Preference Shares
120 Reserves and Surplus
121 Share Premium Account
122 Reserves
122 2 Capital Reserve
122 3 General Reserve
122 4 Share Premium Account
122 5 Debenture Redemption Reserve
122 6 Capital Redemption Reserve
122 7 Surplus ie Balance in Profit & Loss Account after providing for
proposed allocations eg. dividend, bonus etc
122 9 Branch Control Account balances
(These originate on account of inter branch transactions. The control
account of a Branch would be identified by the 5th to 8th digits
suffixed. For eg 12901190 would represent XXX Branch Control Account-Finance &Accounts).
130 Secured Loans
131 Debentures
132 Loans and advances from Banks
Digits 1 to 9 could be used to specify the various types of loans and advances
Eg 1321 - Term Loan
1322 - Working Capital Demand Loan
1323 - Packing Credit Advance
The sixth and seventh digit could be constant for the location ie 10 for
Corporate/.Head Office. The seventh and eighth digit could be constant at 90,
signifying the responsible Department ie Finance and Accounts.
140 Unsecured Loans
141 Fixed deposits from the Public
142 Fixed deposits from shareholders
143 Loans and advances from subsidiaries
144 Short term loans and advances from Banks
145 Short term loans and advances from Others.
146 Loans from Directors
147 Interest accrued but not due
Detailed
Chart of Accounts
(Illustrative)
(contd.)150 Current Liabilities
151 Acceptances and Bills Payable
151 1 Acceptances
152 2 Bills Of Exchange Payable
152 Trade Creditors
152 1 For Supplies
153 2 For services
153 Deposits
153 1 From Customers
153 2 From Suppliers
152 3 From Scrap Dealers
152 4 Against tenders
152 5 Against Contracts(Retention Money)
154 Advances
154 1 Advances from Customers
155 Unclaimed Dividends
156 Interest accrued but not due
156 1 On Bank Loans
157 Liabilities on account of Commercial Taxes
157 1 Central Sales Tax
157 2 Local VAT
157 3 Service Tax
158 Payments due to Employees
158 1 Unpaid Salary
158 2 Unpaid Wages
158 3 Unpaid Bonus
158 4 Unclaimed Gratuity
158 5 Unpaid Travel Expenses
158 6 Unpaid Local Conveyance
158 7 Unpaid Business Promotion Expenses
159 Deductions from employees to be paid to other Agencies
159 1 Deductions on account of PF, Family Pension Scheme
159 2 Deductions on account of ESI
159 3 Deductions on account of Income Tax
160 Provisions
161 Provision for Taxation
161 1 Provision for Income Tax
161 2 Advance Payment of Income Tax (Debit Balance).
161 3 Provision for Dividend
161 4 provision for Gratuity
Detailed
Chart of Accounts
(Illustrative)
(contd.) 2:ASSETS
210 Fixed Assets
211 Land
211 1 Freehold Land
211 2 Leasehold Land
212 Intangible Assets
212 1 Patents
212 2 Trade Marks and Designs
213 Buildings
213 1 Factory Buildings
213 2 Office Building
213 3 Temporary Structures
214 Plant and Machinery
214 1 Production Machinery
214 2 Servicing Machinery
214 3 Material Handling Equipment
214 4 Air Conditioning Equipment
215 Electrical Equipment
216 Furniture and Fixtures
216 1 Furniture and Fixtures-Factory
216 2 Furniture and fixtures-Office
Detailed
Chart of Accounts
(Illustrative)
(contd.)
2:ASSETS(contd.)
210 Fixed Assets(contd.)
217 Office Equipment
217 1 Computers
217 2 Laptops
218 Vehicles
218 1 Automobiles
218 2 Delivery Vans
219 Work In Progress
219 1 Capital Work In Progress-Buildings
220 Depreciation (Credit balance).
223 Depreciation-Buildings
223 1 Factory Buildings
223 2 Office Building
223 3 Temporary Structures
224 Depreciation Plant and Machinery
224 1 Production Machinery
224 2 Servicing Machinery
224 3 Material Handling Equipment
224 4 Air Conditioning Equipment
225 Depreciation-Electrical Equipment
226 Depreciation-Furniture and Fixtures
226 1 Furniture and Fixtures-Factory
226 2 Furniture and fixtures-Office
227 Depreciation-Office Equipment
227 1 Computers
227 2 Laptops
227 3 UPS/Inverters
227 4 Printers
227 5 Photocopy Machines
227 6 Fax Machines
227 7 EPABX and Telephone sets
228 Depreciation-Vehicles
228 1 Motor Cars
228 2 Delivery Vans
Detailed
Chart of Accounts
(Illustrative)
(contd.)
Note: While depreciation rates are applied uniformly over a class of assets, the above
structure will assist in arriving at the book value by netting off the balances in
the asset accounts and the corresponding depreciation account for the
measurement period 230 Investments
231 Govt. Securities
232 Investments in Subsidiaries
233 Other Investments
240 Inventories
241 Raw Materials-Local
241 1 Steel Items
241 2 Electrical Items
241 3 Paint Items
242 Raw Materials-Imported
242 1 Metal Items
242 2 Spares
243 Consumables and Spare parts
243 1 Spares Parts for Machinery
243 2 Consumables
244 Packing Material
244 1 Wooden Packing Cases
244 2 Cardboard Cartons
Note: In normal course, the above accounts will be a combination of opening
balances plus purchases, less material issued for sale,to arrive at the cost of sales
figure.
245 Loose tools, jigs and fixtures
246 Manufacturing Work In Progress
247 Finished Stock
247 1 Own Manufactured
257 2 Bought Out
250 Sundry Debtors
251 Trade Debtors
252 Other Debtors
253 Companies in which Directors are interested
259 Allowance for Doubtful debts(credit balance and cumulative)
Detailed
Chart of Accounts
(Illustrative)
(contd.)
260 Loans and Advances
261 Bills Receivable
262 Advances recoverable (Long Term)
263 Advances to Suppliers (Short term)
263 1 Supply of Materials
263 2 Supply of Services
264 Advances to Employees
264 1 Advances against salaries
264 2 Advances against travelling expenses
264 3 Other Advances
265 Deposits
265 1 Customers
265 2 XXX Department
265 3 Customs Department
265 4 Municipal Authorities
265 5 Lease of premises
270 Other Current Assets
271 Refunds due Export Assistance
273 Refunds due-Customs duty
274 Refunds due-Income Tax
275 Insurance Claims
280 Cash and Bank Balances
281 Imprest
(Imprests at locations and Departments will be identified with location and
Deptt.Codes)
282 Bank Balances
(Fourth digit would signify the respective Bank account sub ledger and sixth
digit the location and last two digits the Department ie Finance & Accounts)
290 Misc. Expenditure to the extent not written off or adjusted
291 Preliminary Expenses on issue of shares
292 Commission, Brokerage on underwriting of shares or debentures
293 Discount on issue of shares or debentures
294 Other Expenses
299 Profit and Loss Account (carried forward loss)
Detailed
Chart of Accounts
(Illustrative)
(contd.)
3: Materials and Other Variable Costs
310 Raw Material -Local
311 1 Steel Items
311 2 Electrical Items
311 3 Paints
The Account code structure would be similar to series 240-Raw Material
Inventory. Debits to these accounts would indicate issues to Production or sales.
Credits would be to series 240 indicating reduction in inventory.
320 Raw Material-Imported
322 1 Metal Items
322 2 Spares
330 Other Charges
331 Payments to sub contractors
331 Freight Inward
334 Variation in WIP(*Debit/Credit to this Account code would be required
to bring opening WIP to equal closing WIP)
335 Variation in Finished Goods
350 Manufacturing Tax/Excise Paid
351 Tariff Item No...........
352 Tariff Item No........
353 Tariff Item No....
360 Packing Material
361 1 Wooden Packing Cases
361 2 Cardboard Cartons
(*The value of material issued will be debited to codes in 364 series and
credited to 244 series codes)
370 Freight Outward
371 Railways freight
372 Truck Hire Charges
Detailed
Chart of Accounts
(Illustrative)
(contd.)
Staff and Works Expenses
410 Salaries, Wages and Bonus
411 Management Staff
412 Supervisory Staff
413 Other Staff
414 Contract Staff
415 Temporary Staff
416 Apprentices and Trainees
418 Bonus
419 Ex Gratia
420 Retirement Benefits
421 Provident Fund
421 1 Management Staff
421 2 Other Staff
422 Family Pension
423 Superannuation
424 Gratuity
424 1 Management Staff
424 2 Other Staff
430 Welfare Expenses
431 ESIC
432 1 ESIC Payments
432 2 ESIC Recoveries
433 Medical Expenses
433 1 First Aid Expenses
433 2 Reimbursement of Medical Expenses
433 3 Group Insurance Coverage Costs
434 Workmen Compensation
434 1 WCA Insurance
434 2 Accident Insurance Expense
435 Leave Travel Assistance
436 Canteen expenses
436 1 Purchases
436 2 Recoveries from Staff
437 Vacation Pay
438 Misc .expenses
Detailed
Chart of Accounts
(Illustrative)
(contd.)
4: Staff and Works Expenses(contd.)
440: Maintenance Expenditure
441 Repairs to Production Machinery
441 1 Material drawn from Stores
441 2 Payment to Outside Parties for repairs
441 3 Service Contracts
441 4 Routine Maintenance
441 5 Reconditioning
442 Repairs to Other Machinery
443 Repairs to Tools and Dies
444 Repairs to Office furniture
445 Repairs to electrical installations
446 Repairs to Buildings
447 Repairs To Office Equipment
448 Repairs to Vehicles
450: Stores and Consumables
451 Hand Tools
452 General Stores
460: Power and fuel
461 Electricity
462 Diesel
463 Furnace Oil
470: Rent, Rates and Taxes
471 Rent
471 1 Factory Building
471 2 Office Building
472 Property Tax
473 Water Charges
474 License Fees
475 Profession Tax
Detailed
Chart of Accounts
(Illustrative)
(contd.)
480: Depreciation
483 1 Factory Buildings
483 2 Office Building
483 3 Temporary Structures
484 Depreciation Plant and Machinery
484 1 Production Machinery
484 2 Servicing Machinery
484 3 Material Handling Equipment
484 4 Air Conditioning Equipment
485 Depreciation-Electrical Equipment
486 Depreciation-Furniture and Fixtures
486 1 Furniture and Fixtures-Factory
486 2 Furniture and fixtures-Office
487 Depreciation-Office Equipment
487 1 Computers
487 2 Laptops
487 3 UPS/Inverters
487 4 Printers
487 5 Photocopy Machines
487 6 Fax Machines
487 7 EPABX and Telephone sets
488 Depreciation-Vehicles
488 1 Motor Cars
488 2 Delivery Vans
Detailed
Chart of Accounts
(Illustrative)
(contd.)
5:Administrative Expenses
510: Insurance
511 Buildings
512 Plant and Machinery
513 Inventory
514 Cash
515 Goods In Transit
516 Vehicles
520 : Technical Know How
521 Royalty
522 Technical Assistance Fee
530 : Travelling
531 Local Conveyance
532 Travelling-Domestic
532 1 Directors
532 2 Sales
532 3 Installation
532 4 Servicing
532 5 Purchase
540 : Communication
541 Telecom Cost-Office
542 Telecom Cost-Factory
543 Telecom Cost-Managers
544 Telecom Cost-Staff
545 Internet-Office
546 Internet-Factory
547 Internet-Staff
548 Postage
550: Printing and Stationery 550 Photocopying Paper
551 Computer stationery
560: Books and Periodicals
Detailed
Chart of Accounts
(Illustrative)
(contd.)
570 : Legal and Professional Fees
571 Audit Fees
571 1 Reimbursement of travelling/other charges
572 Internal Audit Fe es
573 Legal Charges
573 1 Customer Recoveries
573 2 Labour Matters
573 3 Company Law Matters
573 4 Tax Matters
574 Professional Fees
574 1 Directors Fees
574 2 Other Payments to Directors
6 : Selling and Distribution Expenses
610: Advertisements and Sales Promotion
611 Advertisements in Newspapers, Magazines and Trade Journals
611 1 Product Display and Sales
611 2 Recruitment
611 3 Public Notices
611 4 Tenders
612 Advertisements on Television
613 Advertisements on Radio
614 Advertisements in Cinema Theatres
615 Art Work, Blocks etc
620: Sales Promotion
621 Samples
622 Gifts
623 Exhibitions
630: Other Selling Expenses
631 Replacements under Warranties
640: Allowance for Doubtful Debts
650: Commissions And Discounts
651 Commission and Incentives to Sales Staff
652 Trade Discounts and Commission to Dealers
653 Third Party Commission(Sales Promoters)
654 Other Discounts
Detailed
Chart of Accounts
(Illustrative)
(contd.)
7: Finance Costs
710 Interest to Bank
710 1 Term Loans
710 2 Overdraft Accounts
710 3 Working Capital Demand Loans
710 4 Cash Credit Account
720 Bank Charges
720 1 Cheque Book Charges
720 2 Demand Drafts/Bankers Cheques
720 3 Bank Guarantees
720 4 Letters of Credit
720 5 Electronic Funds Transfer
720 6 Acceptances
730 Interest on Deposits
730 1 Public
730 2 Shareholders
730 3 Customers
730 4 Govt. Authorities
Detailed
Chart of Accounts
(Illustrative)
(contd.)
810 Sales Income( excluding VAT/Manufacturing Taxes )
810 1 Product 1
810 2 Product 2
810 3 Product 3
810 4 Product 4
820 Recoveries on account of Excise
820 1 Product 1
820 2 Product 2
820 3 Product 3
820 4 Product 4
830 Recoveries on account of Packing and Freight
830 1 Product 1
830 2 Product 2
830 3 Product 3
830 4 Product 4
840 Income from Service
850 Recoveries on Account of Service Tax
9:Other Income
910 ;Income from Sale of Scrap
920: Income from Investments
930 :Interest Received
930 1 Fixed Deposits with Banks
930 2 Fixed Deposits with Govt.Deptts.
940 : Export Incentives Received950 : Income from Sale of Fixed Assets
980 : Adjustments on Account of Previous years
Detailed
Chart of Accounts
(Illustrative)
(contd.)
810 Sales Income( excluding VAT/Manufacturing Taxes )
810 1 Product 1
810 2 Product 2
810 3 Product 3
810 4 Product 4
820 Recoveries on account of Excise
820 1 Product 1
820 2 Product 2
820 3 Product 3
820 4 Product 4
830 Recoveries on account of Packing and Freight
830 1 Product 1
830 2 Product 2
830 3 Product 3
830 4 Product 4
840 Income from Service
850 Recoveries on Account of Service Tax
9:Other Income
910 ;Income from Sale of Scrap
920: Income from Investments
930 :Interest Received
930 1 Fixed Deposits with Banks
930 2 Fixed Deposits with Govt.Deptts.
940 : Export Incentives Received950 : Income from Sale of Fixed Assets
980 : Adjustments on Account of Previous years
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