A well-designed Chart of Accounts should make it easy to quickly see where your company’s finances are going and how it’s performing year after year. A professional chart of accounts that don’t fluctuate from year to year is the ultimate goal. This gives you valuable insight into how you are managing your business’s finances.

When you install CheckMark MultiLedger, a folder called “COAs” is installed in the “MLedger” folder. This folder contains several charts of accounts that you can use for your small business. The professional chart of accounts is available in the “Sample COAs” folder on your local disk.

You can adapt your current chart of accounts, create a new one, or copy and then modify an existing chart of account from one of the MultiLedger sample companies or the Sample COAs folder.

Request a demo of CheckMark MultiLedger today to learn how it can help you keep track of your accounts without all the annoying paperwork.

To help you best manage your COA, here are some accounts to consider:

Professional Chart of Accounts
1010	Cash In Bank – Checking Acct.	6200	Bad Debts
1020	Money Market Account	6300	Bank Charges
1100	Accounts Receivable	6400	Contributions
1200	Prepaid Expenses	6600	Depreciation Expense
1700	Leasehold Improvements	6700	Dues & Memberships
1720	Off ice Furniture & Equipment	6800	Insurance – General
1740	Vehicles	6900	Insurance – Group
1800	Accum. Depr.- Leasehold	7000	Insurance – Owner
1820	Accum. Depr.- Office	7100	Legal& Accounting Services
1840	Accum. Depr.- Vehicles	7110	Professional Fees
2100	Accounts Payable	7120	Commissions Paid
2200	Sa les Tax Payable	7200	Meals & Entertainment
2300	Federal Withholding Tax	7300	Miscellaneous Expense
2400	State Withholding Tax	7400	Office Supplies
2SOO	FICA Tax Payable	7500	Pension/Prof it Sharing Expense
2S50	State Disability Tax	7600	Postage
2700	Bank Loan	7610	Printing
3000	Capital	7700	Rent
3100	Owners Draw	7800	Repairs & Maintenance
3200	Retained Earnings	7900	Payroll Salaries
4100	Fee Income	7950	Payroll Taxes
4200	Commissions	8000	Licenses
4300	Consulting	8100	Telephone
4400	Reimbursement Expenses	8200	Travel
4500	Miscellaneous Income	8300	Utilities
6000	Automobile Expense	9100	Interest Earned
6100	Advertising/Marketing	9500	Interest Expense