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

    • Cash (Asset → Current) - 1000
    • Undeposited Funds (Asset → Current) - 1001
    • Accounts Receivable (Asset → Current) - 1010
    • Prepaid Expenses (Asset → Current) - 1030
    • Due from Shareholder (Asset → Current) - 1050
    • Trust Accounts (Asset → Current) - 1060
    • General Accounts (Asset → Current) - 1070
    • Work in progress (Asset → Current) - 1090

• • Long Term (Fixed)

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

    • Equipment (Asset → Long Term) - 1510
    • Vehicles (Asset → Long Term) - 1515
    • Buildings (Asset → Long Term) - 1520

    • Investments (Asset → Long Term) - 1530

    • Security Deposits (Asset → Long Term) - 1540

    • Goodwill (Asset → Long Term) - 1550

    • Leasehold Improvements (Asset → Long Term) - 1550

    • Accumulated Amortization (Asset → Long Term) - 1570

    • Accumulated Depreciation (Asset → Long Term) - 1590 

• Lَiabilities

  • Current

    • Other Current Liabilities (Liability → Current) - 2000

    • Accounts Payable (Liability → Current) - 2100

    • Business Credit Card (Liability → Current) - 2010

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

    • Line of Credit (Liability → Current) - 2080

    • Loan Payable (Liability → Current) - 2090

    • Income Tax Payable (Liability → Current) - 2126

• • • Payroll Liabilities (Liability → Current) - 2160

    • Property Tax Payable (Liability → Current) - 2180

    • Other Taxes Payable (Liability → Current) - 2190

    • Insurance Payable (Liability → Current) - 2200

    • Interest Payable (Liability → Current) - 2300

    • HST Payable (Liability → Current) - 2400

    • HST Suspense (Liability → Current) - 2410

• • 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

  • Advertising (Expense - Promotion) - 5040
  • Office Supplies (Expense - Operating expenses) - 5100
  • Cleaning Expenses (Expense - Operating expenses) - 5105
  • Bad Debt (Expense - Other) - 5110
  • Telephone (Expense - Operating expenses) - 5120

• • Employee Benefit Programs (Expense - Other) - 5120

  • Repairs & Maintenance (Expense - Other) - 5130

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

• • Courier & Postage (Expense - Other) - 5135
  • Computer Equipment (Expense - Operating expenses) - 5140

• • Miscellaneous (Expense - Other) - 5140

  • Vehicle Expense (Expense - Other) - 5150

  • Software subscriptions (Expense - Operating expenses) - 5150

  • Parking (Expense - Office) - 5160

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

  • Travel (Expense - Other) - 5200 

• • 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