Chart Of Account
Here are the sample chart of accounts for various types of companies such as trading, manufacturing, partnership, training center, travel agency, and construction. These sample charts of accounts provide a foundational structure tailored to the specific needs and financial tracking requirements of each type of company, ensuring accurate financial management and reporting.
1.Trading Company - Chart Of Accounts
A trading company primarily engages in buying and selling goods. The chart of accounts for a trading company typically includes accounts for inventory, sales revenue, cost of goods sold, accounts receivable, and accounts payable. This structure supports the tracking of inventory levels, sales performance, and purchasing activities.
2.Manufacturing Company - Chart Of Accounts
A manufacturing company involves the production of goods from raw materials. The chart of accounts for a manufacturing company is more complex, including accounts for raw materials, work-in-progress, finished goods, manufacturing overhead, direct labor, and direct materials. This helps in managing production costs, inventory valuation, and tracking the cost of goods manufactured.
3.Partnership Company - Chart Of Accounts
A partnership company involves two or more individuals sharing profits and liabilities. The chart of accounts for a partnership company includes partners’ capital accounts, partners’ drawing accounts, revenue, expenses, accounts payable, and accounts receivable. This structure ensures accurate tracking of each partner’s equity, contributions, and withdrawals.
4.Training Center Company - Chart Of Accounts
A training center company provides educational and training services. The chart of accounts for a training center company includes accounts for tuition fees, course materials, instructor salaries, facility expenses, accounts receivable, and accounts payable. This setup helps in managing income from training programs and controlling operational costs.
5.Travel Agency Company - Chart Of Accounts
A travel agency company specializes in providing travel-related services, such as booking flights, hotels, and tours. The chart of accounts for a travel agency company includes accounts for travel service revenue, commissions earned, client deposits, travel expenses, accounts receivable, and accounts payable. This facilitates tracking of revenue from various travel services and managing client funds.
6.Construction Company - Chart Of Accounts
A construction company is involved in building and infrastructure projects. The chart of accounts for a construction company includes accounts for contract revenue, construction costs, work-in-progress, equipment rental, labor costs, materials, accounts receivable, and accounts payable. This structure aids in managing project costs, tracking progress, and ensuring accurate billing and collections.
