Looking at the Chart of Accounts can be a bit dense so I’ve decided to presenting a sample P&L, and also a table with the chart of accounts below. (The goal of the Chart of Accounts is to get the accounts to track to the appropriate location on the financial statements.) Take a look at the screenshot below, the see the sample SaaS chart of accounts below, and structure your Chart of Accounts accordingly:
Caveat: your business is unique, so you may need to do some tailoring!
Account | Type | Detail Type |
---|---|---|
Bill.com Money In Clearing | Bank | Cash on hand |
Bill.com Money Out Clearing | Bank | Cash on hand |
SVB Checking | Bank | Checking |
SVB MMA | Bank | Checking |
SVB Savings | Bank | Checking |
Accounts Receivable (A/R) | Accounts receivable (A/R) | Accounts Receivable (A/R) |
Loans to Shareholders | Other Current Assets | Other Current Assets |
Prepaid Expenses | Other Current Assets | Development Costs |
Prepaid Rent | Other Current Assets | Other Current Assets |
Undeposited Funds | Other Current Assets | Undeposited Funds |
Accumulated Depreciation | Fixed Assets | Other fixed assets |
Computer Equipment | Fixed Assets | Other fixed assets |
Furniture and Equipment | Fixed Assets | Other fixed assets |
Leasehold Improvements | Fixed Assets | Other fixed assets |
Accumulated Amortization | Other Assets | Other Long-term Assets |
Deposit on Rental | Other Assets | Other Long-term Assets |
Patents | Other Assets | Other Long-term Assets |
Security Deposit | Other Assets | Other Long-term Assets |
Accounts Payable (A/P) | Accounts payable (A/P) | Accounts Payable (A/P) |
Amex Credit Card | Credit Card | Credit Card |
401(K) Payable | Other Current Liabilities | Other Current Liabilities |
Accrued Expenses | Other Current Liabilities | Other Current Liabilities |
Accrued Interest | Other Current Liabilities | Other Current Liabilities |
Payroll Liability | Other Current Liabilities | Payroll Tax Payable |
Reimbursement Liability | Other Current Liabilities | Other Current Liabilities |
SF Taxes Payable | Other Current Liabilities | Other Current Liabilities |
Loans from Shareholders | Other Current Liabilities | Other Current Liabilities |
Unearned Revenue | Other Current Liabilities | Other Current Liabilities |
Common Stock | Equity | Common Stock |
Opening Balance Equity | Equity | Opening Balance Equity |
Retained Earnings | Equity | Retained Earnings |
Series Seed | Equity | Preferred Stock |
Series Seed: Seed Series Financing Costs | Equity | Accumulated Adjustment |
On Demand Revenue | Income | Other Primary Income |
Subscription Revenue | Income | Other Primary Income |
Hosting | Cost of Goods Sold | Cost of labor - COS |
Merchant Account Fees | Cost of Goods Sold | Other Costs of Services - COS |
Subcontractors | Cost of Goods Sold | Cost of labor - COS |
Advertising and Promotion | Expenses | Other Miscellaneous Service Cost |
Advertising and Promotion: Advertising | Expenses | Other Miscellaneous Service Cost |
Advertising and Promotion: Collateral - Swag | Expenses | Other Miscellaneous Service Cost |
Advertising and Promotion: Conferences and Tradeshows | Expenses | Other Miscellaneous Service Cost |
Advertising and Promotion:Public Relations | Expenses | Other Miscellaneous Service Cost |
G & A Expense | Expenses | Dues & subscriptions |
G & A Expense: Bank Service Charges | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Computer and Internet Expenses | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Insurance Expense | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Janitorial Expense | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Office Expenses | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Payroll Processing Fee | Expenses | Other Miscellaneous Service Cost |
G & A Expense: Utilities | Expenses | Other Miscellaneous Service Cost |
Meals & Entertainment | Expenses | Other Miscellaneous Service Cost |
Meals & Entertainment:Coffee | Expenses | Advertising/Promotional |
Meals & Entertainment: Dining Out | Expenses | Advertising/Promotional |
Meals & Entertainment: Office Meals | Expenses | Advertising/Promotional |
Payroll Expenses | Expenses | Payroll Expenses |
Payroll Expenses: Employee Benefits | Expenses | Office/General Administrative Expenses |
Payroll Expenses: Employer Payroll Taxes | Expenses | Other Miscellaneous Service Cost |
Payroll Expenses: Salary Expense | Expenses | Other Miscellaneous Service Cost |
Payroll Expenses: SF Payroll Tax | Expenses | Other Miscellaneous Service Cost |
Professional Fees | Expenses | Other Miscellaneous Service Cost |
Professional Fees:Accounting & Finance | Expenses | Advertising/Promotional |
Professional Fees: IT | Expenses | Advertising/Promotional |
Professional Fees: Legal Fees | Expenses | Other Miscellaneous Service Cost |
Professional Fees: Other Professional Services | Expenses | Advertising/Promotional |
Professional Fees: Recruiters | Expenses | Advertising/Promotional |
Professional Fees: Upwork | Expenses | Advertising/Promotional |
Rent Expense | Expenses | Other Miscellaneous Service Cost |
Travel Expense | Expenses | Other Miscellaneous Service Cost |
Travel Expense: Airfare | Expenses | Other Miscellaneous Service Cost |
Travel Expense: Ground Transportation | Expenses | Other Miscellaneous Service Cost |
Travel Expense: Lodging | Expenses | Other Miscellaneous Service Cost |
Web Services | Expenses | Other Miscellaneous Service Cost |
Web Services: 1Password | Expenses | Advertising/Promotional |
Web Services: Adobe | Expenses | Advertising/Promotional |
Web Services: CircleCI | Expenses | Advertising/Promotional |
Web Services: eShares | Expenses | Advertising/Promotional |
Web Services: Fullstory.com | Expenses | Advertising/Promotional |
Web Services: Google Apps | Expenses | Advertising/Promotional |
Web Services: Heap Analytics | Expenses | Advertising/Promotional |
Web Services: Intercom.io | Expenses | Advertising/Promotional |
Web Services: Recruiting Software | Expenses | Other Miscellaneous Service Cost |
Web Services: Salesforce | Expenses | Advertising/Promotional |
Web Services: Slack | Expenses | Advertising/Promotional |
Uncategorized Expense | Other Expense | Other Miscellaneous Expense |
Amortization Expense | Other Expense | Other Miscellaneous Expense |
Depreciation Expense | Other Expense | Depreciation |
Interest Expense | Other Expense | Amortization |
Tax Expense | Other Expense | Other Miscellaneous Expense |
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