Chart of Accounts in Xero Cheat Sheet

General Classification Account Type

Bank
Current Assets
Fixed Assets
Assets
Inventory
Non-Current Assets
Pre-Payments
Current Liabilities
Liabilities Liability
Non-Current Liability
Equity Equity
Revenue
Revenue Sales
Other Income
Depreciation
Direct Costs
Expenses
Expense
Overhead

General Classification
Common Accounts in Australian Bookkeeping
Undeposited Funds
Cash Float
Rental Property Furniture & Fittings
Prepayments
Assets Trade Debtors
Other Debtors
Plant and Equipment
Opening Stock
Provisions for Doubtful Debts
Unpaid Expense Claims
GST Payables
Employee Provisions
Liabilities PAYG witholding
Supperannuation Payables
ABN witholding
Revenue Received in Advanced
Retained Surplus / Accumulated Loss
Equity
Historical Balancing Account
Expenses Agency Temp Staff
Chart of Accounts in Xero Cheat Sheet
Description
Repositories
These are items that are easily liquidated in a 1-year period
The items that are for long-use and mostly tangible
The items that are in your warehouse or ready for sale
These are items that are not easily liquidated in a 1-year period
Those expenses that were paid in advanced (Prepaids)
These are what you owe that should be paid in a 1-year period
Xero treats this as identical to Non-Current Liability
These are what you owe that would be paid after 1 year or more
Owner's Share in the company
Xero treats this as identical to Sales
This is the income arising from the normal business activities
This is the income not arising from the normal business activities
The amount of the asset's cost that was consunmed during the period or the loss o
Costs directly attributed to the manufacturing or production of a good or service fo
Xero treats this as identical to Overhead
Costs that aren't attributed to the manufacturing or production of goods or service

Description
Funds that weren't properly categorized to the correct cash or bank account
Cash that is in bank transit
Furnitures and Fixtures in Properties Rented
Advanced Payment for Supplies or other expenses
What customers' owe you (Accounts Receivables)
What non-customers' owe you (Accounts Receivables)
Mostly movable fixed assets
Synonymous to Beginning Inventory
These are the debts that you may no longer collect because of various reasons
These are debts to employees for their reimburseable expenses
Sales Tax Payables (Goods and Service Tax)
The witholdings for different benefits of the employee
The witholding for payments in behalf of the employer to ATO
The witholdings for payments for retirement
The witholdings from payments to a business that don't have a Australian Busin
These are those advanced payments for a service or in exchange of a product
Retained Earnings or the owner's share in the profit that he did not withdraw
An Account to Balance entries in the Accounting Software (Should always be zer
Payment to Contractors
 Examples Standard Xero Chart of Account Plac

Accounts Receivable Profit and Loss

Land Income
Toy Inventory Revenue xxx
- Sales xxx
Pre-paid Rent Less: Cost of Sales
Unpaid Expense Claims Direct Costs xxx
Loan Gross Profit: xxx
Loan Plus: Other Income
Funds Introduced Other Income xxx
Service Fees Less: Expenses
Sales Expenses xxx
Interest Income Depreciation xxx
Depreciation Expense - Vehicle Overheads xxx
Shipping, Freight and Delivery Cost Net Profit: xxx
Advertising Expense
Cleaning Supplies Expense

Account Type
Current
Current
Fixed Asset
Prepayments
Current
Current
Fixed Asset Chart of Account Creation Detail Fields
Inventory Field Description
Current Account Type Placement of Account in the Reports
Current Code Set account number for the account
Current Name Specific name of the Account
Current Description Detailed purpose of the account
Current Applicable Tax RatApplicability of GST
Current
Current
Current
Equity
Equity
Expenses
 Xero Chart of Account Placements in Reports

Balance Sheet
Current Assets
Current Assets xxx
Inventory xxx
Prepayments xxx
Plus: Banks
Bank Accounts xxx
Plus: Fixed Assets
Fixed Assets xxx
Plus: Non-current Assets
Non-current Assets xxx
Total Assets: xxx
Less: Current Liabilities
Current Liabilities xxx
Less: Non-current Liabilities
Liabilities xxx
Non-current Liabilities xxx
Net Assets: xxx
Equity
Equity xxx
Plus: Net Profit
Total Equity: xxx

n Detail Fields
escription
count in the Reports
ber for the account
the Account
of the account
ST
 System Account
Account Manual Entry?
Accounts Payable No*
Accounts Receivable No*
Bank Revaluation No
Current Earnings No
Historical Adjustments Yes
Realised Currency Gains Yes
Retained Earnings Yes
Rounding Yes
Sales Tax Yes
Tracking Transfers No
Unpaid Expense Claims No
Unrealised Currency GainsNo
 Locked Account
Repeating invoice
Bank rule that you’ve set up
Tracked inventory
Registered fixed asset
Payment account for a Payment Service
 Common Contra Accounts
Accumulated Depreciation
Provisions for Doubtful Debts
Withdrawals
Sales Discount
Sales Returns
Sales Allowance
Purchase Discount
Purchase Returns
Purchases Allowances
unts
Fixed Assets Date Account
Accounts Receivable / Trade Debtors Purchase
Owner's Equity Purchase Discount
Sales Cash
Sales
Sales
Purchases
Purchases
Purchases
Dr Cr
5000 Purchases
500 Less: Purchase Discount
4500 Less: Returns and Allowances
Net Purchase
5000
500
0
4500