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Sabin Gautam
July 12, 2020
Question

Chart of Account Number

  • July 12, 2020
  • 2 replies
  • 0 views

Hello Everyone,

CPA or International standard maintained chart of account number and accounting group, Advise please

2 replies

T
tania_franolic
July 13, 2020

Hi @Sabin Gautam ,

 

Can you please clarify what is your question? Are you asking whether you need to turn on account numbers or how to do so?

S
Sabin GautamAuthor
July 13, 2020

Hi Tania,

Many accountant use the different chart of account number, but, I am trying to find the professional or international standard  code number (chart of account number), such as Asset start with 1 but there is also different type of asset CA, FA, how to categorize the number in Profit loss or balance sheet?

T
tania_franolic
July 13, 2020

Hi @Sabin Gautam ,

 

I really think that depends on how large the Chart of Accounts is going to be and how many numbers you need in between.  For example, some firms will use a 5-digit account number so they have 10,000 options between assets & liabilities.  You may make each section of CA, FA start with 500 so banks might be 10000, 10001, 10002, etc. CAs might be 10500, 10600, etc., FAs might be 11000, 11100, 11200, etc.  I'm not sure there's an exact standard.  It will also change reporting in QBO based on what Account Type and Detail Type you select when setting up the CoA.

 

I hope this helps.

R
Recall1
November 5, 2020

That's all fine guys but i'm wondering if i have to redo the whole chart to get numbers in.

 

for example assets  Receivables 115-0300

 

how do you set it up so you can search and print a trial balance showing both the account numbers and the account names.

 

not self-evident to me

Recall1

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