CheckMark MultiLedger makes it simple to create a Chart of Accounts for partnership firms. When you install CheckMark MultiLedger, it creates a folder called “COAs” in the “MLedger” folder. This folder contains numerous accounting charts that you can use in your business. The partnership chart of accounts can be found on your local disc in the folder “Sample COAs.”

You can alter an existing chart of accounts, create a new one, or copy and modify one from one of the MultiLedger sample firms or the Sample COAs folder. Use this as a reference, and consider your options well before finalizing your account numbers. Create a strong foundation that you can simply expand on in the future!

A sample chart of accounts for partnership firms is provided below. This partnership chart of accounts (COA) keeps track of your different ledgers and everything your partnership firms do financially.

Partnership Chart of Accounts
1010	Checking	4200	Miscellaneous income
1020	Payroll checking	5000	Cost of sales
1030	Cash register drawer	5100	Freight
1040	Petty cash	5200	Purchase discounts
1100	Accounts receivable	6000	Advertising/marketing
1200	Prepaid expenses	6100	Automobile
1400	Inventory	6200	Bad debts
1600	Computer equipment	6300	Bank charges
1620	Office furniture and equipment	6400	Contributions
1640	Vehicles	6500	Commissions and fees
1660	Leasehold improvements	6600	Depletion
1700	Accum. depr.- computer equipment	6700	Depreciation
1720	Accum. depr.- office furniture	6800	Dues and memberships
1740	Accum. depr.- vehicles	6900	Employee benefits
1760	Accum. depr.- leasehold improv	7000	Insurance
2100	Accounts payable	7100	Late fees
2200	Sales tax payable	7200	Lega land professional
2300	FICA tax payable	7300	Maintenance and repairs
2320	Federal withholding tax	7400	Miscellaneous
2340	State withholding tax	7500	Office supplies
2360	Federal unemployment tax	7600	Payroll-wages
2380	State unemployment tax	7700	Payroll-taxes
2400	State disability tax	7800	Postage
2600	Note payable	7900	Rent
3000	Partner A investment	8000	Rent or lease equipment
3020	Partner B investment	8100	Taxes and licenses
3100	Partner A withdrawal	8200	Telephone
3120	Partner B withdrawal	8300	Travel, meals and entertainment
3200	Retained earnings	8400	Utilities
4000	Sales	9000	Interest income
4100	Returns and allowances	9500	Interest expense