|Account category||Debit or credit||FSIC||Description|
|1110 Cash and cash equivalents||D||CCE||Includes all assets that can be turned to cash in the near term. This includes cash accounts, marketable securities, and so forth.|
|1111 Credit card receipts||D||CCE||Where credit card receipts are posted. These are essentially the same as cash.|
|1121 Accounts receivable||D||AR||Includes only trade AR accounts. Special accounts set up for employee receivables should be classified as other current assets.|
|1122 Allowance for bad debts||D||ABD||Applies only to the trade AR accounts. It is a contra account where the allowance for noncollectible or doubtful AR is recorded.|
|1130 Inventory||D||INV||Includes all types of inventory accounts.|
|1190 Other current assets||D||OCA||Includes all current assets not specifically designated in other asset categories.|
|1211 Property, plant, and equipment||D||PPE||Includes only the cost of the assets. A separate category is provided for the accumulated depreciation.|
|1212 Accumulated depreciation||D||AD||Contra account used to record the accumulated depreciation for the assets (plant, property, and equipment).|
|1290 Other noncurrent assets||D||ONCA||For all noncurrent assets except property, plant, and equipment.|
|2110 Accounts payable||C||AP||For trade accounts payable only.|
|2120 Short-term debt||C||STD||Records debt that will be fulfilled within the current year.|
|2130 Credit cards payable||C||OCL||For accounts where credit card purchases are recorded.|
|2190 Other current liabilities||C||OCL||Includes all other current liabilities except accounts payable and short-term debt.|
|2210 Long-term debt||C||LTD||Records debt that is more than one year in duration.|
|2240 Other noncurrent liabilities||C||ONCL||Records all noncurrent liabilities other than long-term debt.|
|3100 Equity||C||EQ||Includes capital stock or other paid-in capital. Accumulated dividends are also included in this group.|
|3200 Retained earnings||C||RE||Includes retained earnings for all prior years. If a special account is used for closing revenue and expense accounts during year-end processing, it should be either in this category or in Revenue/expense clearing.|
|3999 Revenue/ expense clearing||C||RE||Reserved for the account used to close out the revenue and expenses as part of the year-end closing procedures.|
|4000 Net sales||C||NS||Includes all sales accounts as well as returns and allowances.|
|5000 Cost of sales||D||COS||Includes all direct costs of sales.|
|6100 Amortization & depreciation exp||D||ADE||Includes the expense to record depreciation and amortization costs. This is a non-cash type expense.|
|6200 Bad debt expense||D||BDE||Includes all bad debt expense. This is a non-cash expense.|
|6300 Officer compensation||D||OC||Includes only accounts that are used to record expenses for compensation to officers of the company.|
|6400 Interest expense||D||INT||Includes only accounts to record interest expense.|
|6500 Operating expense||D||OOE||Includes all expenses that are not specifically identified elsewhere.|
|7100 NonOperating income||C||ONOI||Includes all revenue not identified as net sales.|
|7200 NonOperating expense||D||ONOE||Records any other nonoperating expense.|
|8000 Income taxes||D||IT||Records state and federal income taxes paid. Income tax refunds should also be recorded in this group.|
Microsoft Small Business Financial Manager Copyright © 1996-1998 Microsoft Corporation
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