| Acct | Description | Debit/ Credit |
FSIC | Notes |
| 1110 | Cash and cash equivalents | D | CCE | This group includes all assets that can be turned to cash in the near term. This includes cash accounts, marketable securities, and so on. |
| 1111 | Credit card receipts | D | CCE | Use this group for accounts for which credit card receipts are posted. These are essentially the same as cash. |
| 1121 | Accounts receivable | D | AR | This includes only the trade AR accounts. Special accounts set up for employee receivables should be classified as some other type of current assets. |
| 1122 | Allowance for bad debts | D | ABD | This applies only to the trade AR. It is a contra account for which the allowance for noncollectable or doubtful trade AR is recorded. |
| 1130 | Inventory | D | INV | Include all types of inventory accounts in this group. |
| 1190 | Other current assets | D | OCA | Include all current assets not specifically designated in other asset categories in this group. |
| 1211 | Property, plant, and equipment | D | PPE | Include only the cost of the assets. A separate category is provided for the accumulated depreciation. |
| 1212 | Accumulated depreciation | D | AD | This is a contra account used to record the accumulated depreciation for the assets. |
| 1290 | Other noncurrent assets | D | ONCA | Use this group for all noncurrent assets except for property, plant, and equipment. |
| 2110 | Accounts payable | C | AP | This is for trade accounts payable only. |
| 2120 | Short-term debt | C | STD | Use this category to record debt that will be fulfilled within the current year. |
| 2130 | Credit cards payable | C | OCL | Use this group for accounts for which credit card purchases are recorded. |
| 2190 | Other current liabilities | C | OCL | Include all other current liabilities except for accounts payable and short-term debt. |
| 2210 | Long-term debt | C | LTD | Use this category to record debt that remains unpaid for more than one year. |
| 2240 | Other noncurrent liabilities | C | ONCL | Use this category to record all noncurrent liabilities other than long-term debt. |
| 3100 | Equity | C | EQ | Include capital stock or other paid-in capital. Also include accumulated dividends. |
| 3200 | Retained earnings | C | RE | Include retained earnings for all prior years. Also use this category for any special accounts used for closing revenue and expense accounts during year-end processing. |
| 3999 | Revenue and expense clearing | C | RE | Use this category only for the account used to close out the revenue and expenses as part of the year-end closing procedures. |
| 4000 | Net sales | C | NS | Include all sales accounts, as well as returns and allowances. |
| 5000 | Cost of sales | D | COS | Include all direct costs of sales. |
| 6100 | Amortization and depreciation expense | D | ADE | Include the cost of recording depreciation and amortization. This is a non-cash type expense. |
| 6200 | Bad debt expense | D | BDE | Include all bad-debt costs incurred. This is a non-cash type expense. |
| 6300 | Officer compensation | D | OC | Include only accounts used to record compensation (salary and bonuses, for example) for officers of the company. |
| 6400 | Interest expense | D | INT | Only include accounts used to record interest expenses. |
| 6500 | Other operating expense | D | OOE | Include all expenses that are not specifically covered elsewhere. |
| 7100 | Other nonoperating income | C | ONOI | Include all revenue not identified as net sales. |
| 7200 | Other non-operating expense | D | ONOE | Record any other non-operating expenses. |
| 8000 | Income taxes | D | IT | Record state and federal income taxes paid, plus income tax refunds. |