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Standard chart reference
Find commonly used codes, then select the account that substantively matches your posting.
The reference helps identify a commonly used standard account. A code is a guide, not an accounting rule: the substance of the amount determines the suitable account in your administration.
Step by step
- 1First determine whether the amount represents an asset, liability, revenue, expense or equity movement.
- 2Then search the reference by name or code and read the account category.
- 3Check whether your administration already has an account with that function. Do not add a duplicate merely because an example uses another code.
- 4When relevant, distinguish acquisition from consumption. An asset used over several years may belong on the balance sheet, with later depreciation entering the result as an expense.
- 5Ask an accountant which account to use when the economic substance or valuation is uncertain.
What is on the screen?
- Software and online subscriptions; small purchases
- Inventory - trading goods; change in work in progress
- Operational vehicle lease
- Traffic and vehicle fines; tax and social-insurance penalties
- Account code, name, category and normal balance
What happens next?
You ultimately select an account from your own chart. The reference changes nothing and does not prescribe an account, VAT treatment or posting.
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Chart of accounts and ledger accounts
Manage account codes, names, categories, normal balance and optional RGS references.
Read guidance →Opening balance
Bring existing assets, liabilities and equity into balance once at the starting point.
Read guidance →Reports
Choose a trial balance, balance sheet or profit and loss report from the question you need answered.
Read guidance →