Accounting
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      1. Nojumi Knowledge Base
      2. Features
      3. Accounting

      The Default Chart of Accounts

      By default, Nojumi will provide you with a chart of accounts

      The following is the default chart of accounts in Nojumi

      • Assets

        • Current

          • Accounts Receivable (Asset → Current) - 1010

          • Work in progress (Asset → Current) - 1090

          • Cash (Asset → Current) - 1000

          • Undeposited Funds (Asset → Current) - 1001

          • Prepaid Expenses (Asset → Current) - 1030

          • Due from Shareholder (Asset → Current) - 1050

          • Trust Accounts (Asset → Current) - 1060
          • General Accounts (Asset → Current) - 1070

        • Long Term (Fixed)

          • Furniture and Fixtures (Asset → Long Term) - 1500

          • Leasehold Improvements (Asset → Long Term) - 1550

          • Accumulated Amortization (Asset → Long Term) - 1570

          • Accumulated Depreciation (Asset → Long Term) - 1590

          • Buildings (Asset → Long Term) - 1520

          • Equipment (Asset → Long Term) - 1510

          • Vehicles (Asset → Long Term) - 1515

          • Goodwill (Asset → Long Term) - 1550

          • Investments (Asset → Long Term) - 1530

          • Security Deposits (Asset → Long Term) - 1540

      • Lَiabilities

        • Current

          • Accounts Payable (Liability → Current) - 2100

          • Business Credit Card (Liability → Current) - 2010

          • Insurance Payable (Liability → Current) - 2200

          • Interest Payable (Liability → Current) - 2300

          • Line of Credit (Liability → Current) - 2080

          • Loan Payable (Liability → Current) - 2090

          • Payroll Liabilities (Liability → Current) - 2160

          • Other Current Liabilities (Liability → Current) - 2000

          • Income Tax Payable (Liability → Current) - 2126

          • Property Tax Payable (Liability → Current) - 2180

          • Other Taxes Payable (Liability → Current) - 2190

          • HST Payable (Liability → Current) - 2400

          • HST Suspense (Liability → Current) - 2410

          • Trust Accounts Liabilities  - 2060
          • General Account Liabilities to Clients - 2070

        • Long term

          • Capital Loan (Liability → Long Term) - 2500

          • Bank Loan (Liability → Long Term) - 2510

          • Equipment Loan (Liability → Long Term) - 2520

          • Long-Term Borrowings (Liability → Long Term) - 2530

          • Other Long-Term liabilities (Liability → Long Term) - 2540

      • Equity

        • Owner’s Equity (Equity) - 3000

        • Partner’s Equity (Equity) - 3100

        • Retained Earnings (Equity) - 3010

        • Share Capital (Equity) - 3020

        • Partner Contributions (Equity) - 3030

        • Partner Distributions (Equity) - 3040

      • Revenue

        • Legal Fee Income (Revenue → Income) - 4000

        • Discounts (Revenue → Income) - 4010

        • Disbursements (Revenue → Income) - 4020

        • Dividend Income (Revenue → Other Income) - 4030

        • Gain/Loss on sale of fixed asset (Revenue → Other Income) - 4040

        • Gain/Loss on sale of investment (Revenue → Other Income) - 4050

        • Interest earned (Revenue → Other Income) - 4360

      • Expenses

        • Rent (Expense - Office) - 5010

        • Parking (Expense - Office) - 5160

        • Real estate taxes and insurance (Expense - Office) - 5170

        • Utilities (Expense - Office) - 5070

        • Telephone (Expense - Operating expenses) - 5120

        • Printing and copying (Expense - Operating expenses) - 5130

        • Computer Equipment (Expense - Operating expenses) - 5140

        • Software subscriptions (Expense - Operating expenses) - 5150

        • Office Supplies (Expense - Operating expenses) - 5100

        • Cleaning Expenses (Expense - Operating expenses) - 5105

        • Bank Charges (Expense - Operating expenses) - 5050

        • Depreciation Expense (Expense - Depreciation) - 5060

        • Advertising (Expense - Promotion) - 5040

        • Insurance (Expense - Other) - 5080

        • Professional Fees (Expense - Other) - 5090

        • Travel (Expense - Other) - 5200

        • Bad Debt (Expense - Other) - 5110

        • Employee Benefit Programs (Expense - Other) - 5120

        • Repairs & Maintenance (Expense - Other) - 5130

        • Courier & Postage (Expense - Other) - 5135

        • Miscellaneous (Expense - Other) - 5140

        • Vehicle Expense (Expense - Other) - 5150

        • Wages - 5020

          • Secretarial (Expense - Cost of Revenue) - 5021

          • Paralegals/Clerks (Expense - Cost of Revenue) - 5022

          • Lawyers (Expense - Cost of Revenue) - 5023

        • Independent Contractor (Expense - Cost of Revenue) - 5030