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 361 Queen Street S outh K itchener ON N2G 1 W6 Phone: 519.725.3566 Fax: 519.725.3567 Toll Free: 1.866.849.1234 [email protected] www.dubeandassociates.com  Sample Chart of Accounts from Chapter 11 of Legal, Tax and Accounting Strategies for t he Canadian Real Estate Investor. Chart of Accounts Here is a look at what a comprehensive Chart of Accounts should look like. Account # Description Type of Acct in QuickBooks 1000 Bank (name of bank) bank 1010 Bank (name of bank) bank 1050 Petty cash bank 1100 Investments other current asset 1200 Accounts receivable accounts receivable 1210 Allowance for doubtful accounts other current asset 1250 Accrued receivables other current asset 1300 Inventory - property A other current asset 1305 Inventory - property B other current asset 1310 Inventory - property C other current asset 1400 Prepaid expenses other current asset 1410 Prepaid insurance other current asset 1500 Land (address of property) fixed asset 1505 Building (address of property) fixed asset 1510 Accum amort - building fixed asset 1520 Land (address of property) fixed asset 1525 Building (address of property) fixed asset 1530 Accum amort - building fixed asset 1600 Furniture and fixtures fixed asset 1605 Accum amort - furniture and fixtures fixed asset 1620 Computer equipment fixed asset 1625 Accum amort - computer equipment fixed asset 1640 Computer software fixed asset 1645 Accum amort - computer software fixed asset 1700 Vehicles fixed asset 1705 Accum amort - vehicles fixed asset 2000 Accounts payable accounts payable 2010 Accrued liabilities other current liability 2020 Bonus payable other current liability 2030 Wages payable other current liability 2100 GST/HST Collected other current liability 2105 GST/HST Paid other current liability 2140 Payroll liabilities other current liability 2200 Federal corporate taxes owing other current liability 2210 Provincial corporate taxes owing other current liability 2300 Tenants  deposits other current liability 2500 Due to shareholder/investor #1 other current liability 2510 Due to shareholder/investor #2 other current liability 2800 Mortgage payable #1 long-term liability

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Page 1: Chartofaccounts-example

7/27/2019 Chartofaccounts-example

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361 Queen Street South Kitchener ON N2G 1W6Phone: 519.725.3566 Fax: 519.725.3567 Toll Free: [email protected] www.dubeandassociates.com 

Sample Chart of Accounts from Chapter 11 ofLegal, Tax and Accounting Strategies for theCanadian Real Estate Investor.

Chart of AccountsHere is a look at what a comprehensive Chart of Accounts should look like.

Account # Description Type of Acct in QuickBooks1000 Bank (name of bank) bank1010 Bank (name of bank) bank

1050 Petty cash bank1100 Investments other current asset1200 Accounts receivable accounts receivable1210 Allowance for doubtful accounts other current asset1250 Accrued receivables other current asset1300 Inventory - property A other current asset1305 Inventory - property B other current asset1310 Inventory - property C other current asset1400 Prepaid expenses other current asset1410 Prepaid insurance other current asset1500 Land (address of property) fixed asset1505 Building (address of property) fixed asset1510 Accum amort - building fixed asset1520 Land (address of property) fixed asset

1525 Building (address of property) fixed asset1530 Accum amort - building fixed asset1600 Furniture and fixtures fixed asset1605 Accum amort - furniture and fixtures fixed asset1620 Computer equipment fixed asset1625 Accum amort - computer equipment fixed asset1640 Computer software fixed asset1645 Accum amort - computer software fixed asset1700 Vehicles fixed asset1705 Accum amort - vehicles fixed asset2000 Accounts payable accounts payable2010 Accrued liabilities other current liability2020 Bonus payable other current liability2030 Wages payable other current liability

2100 GST/HST Collected other current liability2105 GST/HST Paid other current liability2140 Payroll liabilities other current liability2200 Federal corporate taxes owing other current liability2210 Provincial corporate taxes owing other current liability2300 Tenants’ deposits other current liability2500 Due to shareholder/investor #1 other current liability2510 Due to shareholder/investor #2 other current liability2800 Mortgage payable #1 long-term liability

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361 Queen Street South Kitchener ON N2G 1W6Phone: 519.725.3566 Fax: 519.725.3567 Toll Free: [email protected] www.dubeandassociates.com 

2810 Mortgage payable #2 long-term liability2820 Mortgage payable #3 long-term liability3000 Common shares equity

3010 Class A special shares equity3020 Class B special shares equity3100 Retained earnings equity3200 Dividends paid equity4100 Rental income income4110 Laundry income income4140 CAM income income4150 Rental - parking spots income4160 Repair income income4200 Property management fee income income4400 Interest income income4600 NSF/Late fee charge income income4700 Gain/loss on disposal of assets income5000 Cost of properties sold cost of goods sold

5030 Real estate commissions cost of goods sold5060 Legal fees (for cost of properties sold) cost of goods sold5090 Other cost of properties sold cost of goods sold6000 Advertising and promotion expense6005 Meals and entertainment expense6010 Donations expense6020 Gifts to tenants expense6080 Bad debt expense expense6100 Bank charges expense6110 Interest on tenants’ deposits expense6130 Consulting fees expense6150 Dues and subscriptions expenses expense6155 Licences and permits expense6200 Insurance expense expense

6202 Property insurance expense6204 Life insurance expense6208 Mortgage insurance expense6230 Penalties and fines expense6250 Office expense expense6260 Postage and stationery expense6300 Professional fees expense6302 Accounting fees expense6304 Legal fees expense6310 Professional dev’t (Education) expense6320 Property taxes expense6340 Property management fee expense expense6360 Repairs and maintenance expense6362 Building repairs expense

6366 Landscaping and snow removal expense6400 Supplies expense6450 Telephone expense expense6500 Travel expenses expense6502 Vehicle expense expense6504 Mileage expense6506 Hotel and accommodation expense6550 Utilities expense6552 Gas expense

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361 Queen Street South Kitchener ON N2G 1W6Phone: 519.725.3566 Fax: 519.725.3567 Toll Free: [email protected] www.dubeandassociates.com 

6554 Water expense6556 Electricity expense6600 Wages and benefits expense

6700 Mortgage interest expense expense6800 Amortization expense expense6900 Income tax expense expense


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