On Mon, Jan 18, 2021 at 11:03 PM John G Sullivan <[email protected]> wrote:
> 1000 assest > 2000 liabilities > 3000 equity > 4000 income > 5000 expense If it matters to you at all, it's standard (or so I was taught in the mid-1980s) to number them as follows: 1000-1999 Assets 2000-2999 Liabilities 3000-3999 Equity 4000-4999 Income 5000-5999 Cost of Goods Sold 6000-6999 Expenses 7000-7999 Other I don't remember why goods bought for sale are tracked differently from assets. I believe it was for tax purposes. And again, this is only of it matters to you. If you never buy anything with the purpose of reselling it in mind, If it were I, I'd just skip the 5000 series altogether. Another thing I'll suggest is to not give your existing accounts sequential numbers if you're naming them alphabetically. Put maybe ten between them. That way, if you want to add an account later, you've got room to add it in alphabetical order. https://strategiccfo.com/standard-chart-of-accounts/ -- () ascii ribbon campaign * against html e-mail /\ www.asciiribbon.org * against proprietary attachments Home: http://nlphilia.com * Blog: http://nlphilia.net _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
