Chart of Accounts Nominal Codes

by Chris

Chart of Accounts Nominal Codes

Chart of Accounts Nominal Codes

What nominal ledger code should I book small tools bought in a mechanic garage please?

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Dec 12, 2017
Common Chart of Accounts Codes
by: Stephanie

Thank you for your questions about Chart of Accounts nominal codes. There are many different number systems that can be used.

The list shown below is a common system of general ledger nominal codes used in the Chart of Accounts.

Fixed Assets 1 - 999
Current Assets 1000 - 1999
Current Liabilities 2000 - 2299
Long Term Liabilities 2300 - 2999
Capital and Reserves 3000 - 3999
Sales 4000 - 4999
Purchases 5000 - 5999
Direct Expenses 6000 - 6999
Overheads 7000 - 7999
Depreciation and Sundry 8000 - 8999
Suspense Accounts 9000 - 9999

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