Chart of Accounts Complete list with Descriptions (for QuickBooks) - Experts in QuickBooks - Consulting & QuickBooks Training by Accountants (2024)

• Hector Garcia
• August 7, 2021

UPDATED 08/06/2021

First, If you need to setup a free 30-day trial of QuickBooks Online use this link:
https://quickbooks.intuit.com/partners/irp/?cid=irp-4337#pricing
If you keep the account, you will get 30% off for 12 months, best deal out there!

Second, if you want an IMPORTABLE chart of accounts for QuickBooks, you can purchase my kit for my customized “Ultimate Chart of Accounts” for Online or Desktop that I setup for my clients, here:
https://qbkaccounting.com/ultimate-chart-of-accounts-for-quickbooks-desktop/

Third, I do have a free google sheets (downloadable to excel) spreadsheet with a complete list of accounts by industry and company type:
https://docs.google.com/spreadsheets/d/1IDzzpG0CnHkzPiqXUeSuOTehI2he8vaaNX2DTzEkNj4/edit?usp=sharing

And finally, here is a list of the most common cost and expense accounts with descriptions…

Cost of Goods SoldAccounts:

• Blueprints and Reproduction: Blueprints, photostats, and other printing expense
• Bond Expense: Construction bonds expenses directly related to jobs
• Construction Materials Costs: Construction materials costs
• Contracted Services: Direct labor costs for contract (non-employees) performing services for clients
• Equipment Rental for Jobs: Rent paid for rented equipment used on jobs
• Freight and Shipping Costs: Freight-in and shipping costs for delivery to customers
• Freight Costs: Costs of freight and delivery for merchandise purchased
• Job Materials Purchased: Construction materials used on jobs
• Linens and Lodging Supplies: Costs of linens and other supplies for guest rooms
• Materials Costs: Cost of materials used on jobs
• Media Purchased for Clients: Print, TV, radio, and other media purchased for clients
• Merchant Account Fees: Credit card merchant account discount fees, transaction fees, and related costs
• Other Construction Costs: Other costs directly related to jobs such as waste disposal, onsite storage rental, etc.
• Other Job Related Costs: Other costs directly related to jobs such as waste disposal, onsite storage rental, etc.
• Parts Purchases: Purchases of parts for use on customer repairs or resale
• Purchases – Hardware for Resale: Purchases of hardware items for resale that are not tracked or counted in inventory
• Purchases – Resale Items: Purchases of items for resale that are not tracked or counted in inventory
• Purchases – Software for Resale: Purchases of software items for resale that are not tracked or counted in inventory
• Subcontracted Services: Subcontracted services for customer service orders
• Subcontractors Expense: Subcontracted services performed by other contractors
• Tools and Small Equipment: Purchases of tools or small equipment used on jobs
• Worker’s Compensation Insurance: Worker’s compensation insurance premiums

Expense Accounts:

• Advertising and Promotion: Advertising, marketing, graphic design, and other promotional expenses
• Auto and Truck Expenses: Fuel, oil, repairs, and other maintenance for business autos and trucks
• Automobile Expense: Fuel, oil, repairs, and other automobile maintenance for business autos
• Bank Service Charges: Bank account service fees, bad check charges and other bank fees
• Business Licenses and Permits: Business licenses, permits, and other business-related fees
• Car and Truck Expenses: Fuel, oil, repairs, and other car and truck maintenance
• Chemicals Purchased: Costs of chemicals used in farming operations
• Computer and Internet Expenses: Computer supplies, off-the-shelf software, online fees, and other computer or internet related expenses
• Continuing Education: Seminars, educational expenses and employee development, not including travel
• Depreciation Expense: Depreciation on equipment, buildings and improvements
• Dues and Subscriptions: Subscriptions and membership dues for civic, service, professional, trade organizations
• Equipment Rental: Rent paid for rented equipment used for business
• Fertilizers and Lime: Fertilizers and lime purchased for farm operations.
• Freight and Trucking: Amounts paid for freight or trucking of farm products.
• Gasoline, Fuel and Oil: Gasoline, fuel or oil used for farm machinery
• Insurance Expense: Insurance expenses
• Insurance Expense: General Liability Insurance: General liability insurance premiums
• Insurance Expense: Life and Disability Insurance: Employee life and disability insurance premiums
• Insurance Expense: Professional Liability: Professional liability (errors and omissions) insurance
• Insurance Expense: Workers Compensation: Worker’s compensation insurance premiums
• Interest Expense: Interest payments on business loans, credit card balances, or other business debt
• Janitorial Expense: Janitorial expenses and cleaning supplies
• Landscaping and Groundskeeping: Landscape maintenance, gardening, and pool maintenance costs
• Marketing Expense: Advertising, marketing, graphic design, and other promotional expenses for our company
• Meals and Entertainment: Business meals and entertainment expenses, including travel-related meals (may have limited deductibility)
• Office Supplies: Office supplies expense
• Payroll Expenses: Payroll expenses
• Postage and Delivery: Postage, courier, and pickup and delivery services
• Printing and Reproduction: Printing, copies, and other reproduction expenses
• Professional Fees: Payments to attorneys and other professionals for services rendered
• Rent Expense: Rent paid for company offices or other structures used in the business
• Repairs and Maintenance: Incidental repairs and maintenance of business assets that do not add to the value or appreciably prolong its life
• Research Services: Research costs including legal library and subscriptions for research services
• Salon Supplies, Linens, Laundry: Costs of supplies used in the course of business (includes linens and laundry services)
• Seeds and Plants Purchased: Seeds and plants purchased for producing farm income.
• Shop Expense: Miscellaneous shop supplies and related shop expenses (rags, hand cleaning supplies, etc.)
• Small Tools and Equipment: Purchases of small tools or equipment not classified as fixed assets
• Storage and Warehousing: Amounts paid to store farm commodities.
• Taxes – Property: Taxes paid on property owned by the business, franchise taxes, excise taxes, etc.
• Telephone Expense: Telephone and long distance charges, faxing, and other fees Not equipment purchases
• Travel Expense: Business-related travel expenses including airline tickets, taxi fares, hotel and other travel expenses
• Uniforms: Uniforms for employees and contractors
• Utilities: Water, electricity, garbage, and other basic utilities expenses

• Hector Garcia
• 8:34 am
• 17 Comments

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