Chart of accounts

Anna1231

Hi guys!
Does anyone know if there is a specific chart of accounts for transactions you have to use for GLs? Salaries going to GL starting with 5, etc... If there is, do you know where to find such a list, I assume it must have been published by an official body. It doesn't seem to be listed in Irish GAAP, FRS 102 or maybe I am just looking at it wrong.

Any advice?

gigglemuch82

You should be able to export it from your Sage by going into Trial Balance module.

Anna1231

Thank you for your answer. I am sorry I wasn't clear in what exactly I am looking for. I am writing a paper on booking and reporting regulations in Ireland and it's not that important to know the GL numbers, it's more important to actually find where it says that you have to use those specific account numbers. I need to find credible information, ie being written in legislation, companies act etc. Surely if there is such a regulation, it must be written somewhere official, I presume. I just can't find it anywhere.

J.Ryan

Most accounting software uses its own codes, different versions of Sage can have different codes.

The software people design them to fit into their own databases.

Some countries do specify a chart of accounts - for example here is the Romanian one:
http://www.kpmg.com/ro/en/issuesandinsights/articlespublications/news/pages/chart-accounts-2013.aspx

We don't specify one here as far as I know - you either use what came with your accounting package or if in a multinational use the companies own one.

Anna1231

Great, exactly what I thought due to fact I couldn't find it anywhere

Thank you very much for your help!

hockeygirl

Deleted User wrote: »

Some countries do specify a chart of accounts - for example here is the Romanian one:
http://www.kpmg.com/ro/en/issuesandinsights/articlespublications/news/pages/chart-accounts-2013.aspx

We don't specify one here as far as I know - you either use what came with your accounting package or if in a multinational use the companies own one.

I agree with the above.
In some countries the chart of accounts is dictated by the local Accounting Standards Authority and/or it is written into Local Company Law.

For example, I work for a french company, and the chart of accounts is dictated by the ANC as far as I know, and its written into french law aswell. In france they follow GAAP rather than IFRS.

below simplified version of what I have, the next 5 digits would gives a more specified location but I wont go into that:

1***** Bank accounts/term borrowings etc
2***** OUtstanding assets - such as interest due, loans due
3***** Payables/Other Recievables
4***** Fixed Assets
5***** Retained earnings
6***** Expenses
7***** Income
9***** Off Balance sheet (eg Garauntees, loans approved in prinicpal, credit limits)