USA Chart of Accounts

[Vincent Dinh]

Hello There, could someone let me know if there is any official guidance on GL Account Code from authorized organizations, such as FASB, AICPA?

 

[kirby]

No guidance. Just use the structure that makes sense to you. It helps to start from a chart of accounts you are familiar with and improve on that.

 

[ESSAM]

there is some standard COA but better to do it by your self as per your business need

 

[bklynboy]

No official guidance but some general structure considerations would be:
- Start each account with the group it belongs to (i.e. 1 for assets, 2 for liabilities, 3 for for equity, 4 for revenue, 5 for expense, etc)
- Consider using first 3 numbers for type of account (101 for any bonds, 401 for sales, etc)
- Leave gaps in numbering so that you can add new accounts in the future
- use the last 3 digits in each account for the sub ledger of the group (i.e. 401101 - Sales Revenue West Cost, 401102 - Sales Revenue East Coast

You need to see what works best for your needs - lots of good information on the Web to use as real examples