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Multi-currency Accounting for company | USA | Account numbers
USA
Double-Entry Accounting with foreign currencies
Business
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Starter Company
Basic Currency: USD
Double-entry with foreign currencies
Group | Account | Description | Currency | Sum In | Gr1 |
---|---|---|---|---|---|
BALANCE SHEET | |||||
ASSETS | |||||
11200 | Bank Account USD | USD | 12 | ||
11201 | Bank Account CAD | CAD | 12 | ||
11202 | Bank Account EUR | EUR | 12 | ||
11300 | Petty Cash | USD | 12 | ||
120 | Accounts Receivable | 12 | 1 | ||
12200 | Allowance for Bad Debts | USD | 12 | ||
12400 | Accounts Receivable - Other | USD | 12 | ||
12500 | Due from Shareholder | USD | 12 | ||
12600 | Due from Employees | USD | 12 | ||
12700 | Investments | USD | 12 | ||
12800 | Income Taxes Recoverable | USD | 12 | ||
12850 | Sales Taxes Recoverable | USD | 12 | ||
13000 | Inventory | USD | 12 | ||
14000 | Prepaid Expenses | USD | 12 | ||
14100 | Prepaid Deposits | USD | 12 | ||
12 | Total Current Assets | 100 | |||
15110 | Furniture and Equipment | USD | 15 | ||
15120 | Furn. & Equip. - Acc. Am. | USD | 15 | ||
15210 | Computer Equipment | USD | 15 | ||
15220 | Computer Equip. - Acc. Am. | USD | 15 | ||
15310 | Vehicle | USD | 15 | ||
15320 | Vehicle - Acc. Am. | USD | 15 | ||
15 | Total Long Term Assets | 100 | |||
100 | TOTAL ASSETS | 00 | 1 | ||
LIABILITIES & EQUITY | |||||
LIABILITIES | |||||
220 | Accounts Payable | 22 | 1 | ||
22200 | Accrued Liabilities | USD | 22 | ||
22300 | Accounts Payable - Other | USD | 22 | ||
22400 | Visa payable | USD | 22 | ||
23500 | HST Charged on Sales | USD | 22 | ||
23510 | HST Paid on Purchases | USD | 22 | ||
23520 | HST Instalments | USD | 22 | ||
23530 | HST Payable | USD | 22 | ||
23600 | PST Payable | USD | 22 | ||
23700 | GST & QST Payable | USD | 22 | ||
23800 | Accrued Payroll | USD | 22 | ||
23900 | Source Deductions Payable | USD | 22 | ||
24000 | Corporate Tax Payable - Fed. | USD | 22 | ||
24100 | Corporate Tax Payable - Prov. | USD | 22 | ||
25300 | Line of Credit | USD | 22 | ||
25400 | Due to Shareholder | USD | 22 | ||
25900 | Current Portion of Debt - ST | USD | 22 | ||
22 | Total Current Liabilities | 2 | |||
26200 | Term Loan | USD | 26 | ||
26300 | Current Portion of Debt - LT | USD | 26 | ||
26 | Total Long Term Liabilities | 2 | |||
2 | Total Liabilities | 2-3 | |||
EQUITY | |||||
31000 | Common Shares | USD | 3 | ||
38000 | Retained Earnings | USD | 3 | ||
3800 | (Profit)/Loss for the period | 3 | 1 | ||
39000 | Dividends | USD | 3 | ||
3 | Total Equity | 2-3 | |||
2-3 | TOTAL LIABILITIES & EQUITY | 00 | 1 | ||
INCOME STATEMENT | |||||
REVENUE | |||||
41100 | Sales | USD | 4 | ||
41900 | Other Income | USD | 4 | ||
44000 | Exchange Gain/Loss | USD | 4 | ||
4 | TOTAL REVENUE | L01 | 1 | ||
COST OF SALES | |||||
51100 | Inventory - Opening | USD | 5 | ||
51200 | Purchases | USD | 5 | ||
52000 | Freight | USD | 5 | ||
52200 | Inventory - Closing | USD | 5 | ||
52300 | Direct Materials | USD | 5 | ||
52400 | Subcontractors | USD | 5 | ||
55100 | Salaries and Wages | USD | 5 | ||
55200 | CPP Expense | USD | 5 | ||
55300 | EI Expense | USD | 5 | ||
55400 | WSIB Expense | USD | 5 | ||
55500 | Benefit Plan | USD | 5 | ||
55600 | EHT Premiums | USD | 5 | ||
5 | Total COST OF SALES | L01 | |||
L01 | GROSS MARGIN | L02 | 1 | ||
EXPENSES | |||||
61050 | Accounting | USD | 6 | ||
61100 | Advertising & Marketing | USD | 6 | ||
61200 | Amortization | USD | 6 | ||
61400 | Bad Debts | USD | 6 | ||
61500 | Bank Charges & Interest | USD | 6 | ||
61550 | Business Tax & Licences | USD | 6 | ||
61600 | Courier | USD | 6 | ||
61620 | Computing expenses | USD | 6 | ||
61650 | Consulting Fees | USD | 6 | ||
61700 | Dues & Subscriptions | USD | 6 | ||
61800 | Education & Training | USD | 6 | ||
61900 | Equipment Rental | USD | 6 | ||
62000 | Insurance | USD | 6 | ||
62100 | Interest on Debt | USD | 6 | ||
62200 | Legal Fees | USD | 6 | ||
62250 | Management Salaries | USD | 6 | ||
62300 | Meals & Entertainment | USD | 6 | ||
62400 | Miscellaneous | USD | 6 | ||
62500 | Office Supplies | USD | 6 | ||
62600 | Rent | USD | 6 | ||
62700 | Repairs & Maintenance | USD | 6 | ||
63100 | Supplies | USD | 6 | ||
63200 | Telephone & Internet | USD | 6 | ||
63300 | Travel & Parking | USD | 6 | ||
63400 | Utilities | USD | 6 | ||
63500 | Vehicle Expenses | USD | 6 | ||
6 | Total EXPENSES | L02 | 1 | ||
L02 | Income Before Income Taxes | L03 | |||
90000 | Income Tax Provision | 9 | |||
9 | Total Income Taxes | L03 | 1 | ||
L03 | NET (INCOME)/LOSS | 3800 | 1 | ||
00 | Total Debit/Credit Balance should be 0 | ||||
Customers/Debtors | |||||
C0001 | Customer A | USD | 120A | ||
C0002 | Customer B | USD | 120A | ||
C0003 | Customer C | USD | 120A | ||
C0004 | Customer D | USD | 120A | ||
C0005 | Test client | USD | 120A | ||
C0006 | R J Sample Co | USD | 120A | ||
120A | Total Customers | 120 | 1 | ||
Suppliers/Creditors | |||||
S0001 | Supplier A | USD | 220A | ||
S0002 | Supplier B | USD | 220A | ||
S0003 | Supplier C | USD | 220A | ||
S0004 | Supplier D | USD | 220A | ||
S0005 | Supplier E | USD | 220A | ||
220A | Total Suppliers | 220 | 1 | ||
Cost and profit centers | |||||
Departments (CC1) | |||||
.OTT | Department 1 | USD | TDE | ||
.TOR | Department 2 | USD | TDE | ||
TDE | Total Department Expenses | ||||
Projects (CC2) | |||||
,JOB1 | Project 1 | USD | TPR | ||
,JOB2 | Project 2 | USD | TPR | ||
TPR | Total Projects | ||||
Other (CC3) | |||||
;OT-1 | Other 1 | USD | TOT | ||
;OT-2 | Other 2 | USD | TOT | ||
TOT | Total Other | ||||
Segments | |||||
: | Branch | TS1 | |||
:01 | Ottawa | TS1 | |||
:02 | Wancouver | TS1 | |||
TS1 | Total Branch | ||||
:: | Sectors | TS2 | |||
::01 | Sales | TS2 | |||
::02 | Reasearch | TS2 | |||
TS2 | Total sectors |
Ref.Currency | Currency | Text |
---|---|---|
CAD | Canadian Dollar | |
EUR | Euro |