Download the QuickBooks Chart of Accounts for Manufacturing
The manufacturing process is simple: the company creates products and then sells those products to wholesalers or retail locations. Unsurprisingly, the setup for a chart of accounts (COA) in QuickBooks is just as simple; it is just like setting up an account for any other product-based business. Manufacturers can sell anything, really—clothing, food, cars, electronics, instruments, and toys, just to name a few—but no matter what you sell, setting up your COA is essentially the same.
Your accounting routine should be just as simple as the COA setup, which is why we have created a COA with accounts specifically for your industry. Enter your information in the appropriate fields so you can receive a free PDF version of our QuickBooks chart of accounts for manufacturing.
Manufacturers typically only use once income account: sales income. There is an exception to this generalization, though, and that is sales discounts. If your company offers sales discounts, then you need a second income account to record them.
Expenses are a different story; depending on the items being made, your expenses can vary greatly. However, there are some that are commonly incurred by almost all manufacturers:
- Rent
- Repairs and maintenance
- Utilities
- Depreciation on large machinery
- Insurance expenses
- Office supplies
Our chart of accounts for manufacturing covers all of this and more! On top of that, if you need the COA customized even further, we can do that for you!
The Fast Trac team is ready to help you in any way we can, which is why besides our industry-specific chart of accounts, we offer several services that will help you streamline your accounting and boost your profitability.
You can schedule an appointment with one of our experts so we can help you manufacture the best accounting routine possible!
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