{"id":123837,"date":"2023-09-02T16:35:06","date_gmt":"2023-09-02T23:35:06","guid":{"rendered":"https:\/\/jonestown.sdsu.edu\/?page_id=123837"},"modified":"2023-09-02T16:37:29","modified_gmt":"2023-09-02T23:37:29","slug":"x-3-g-5a-5b-suggestions-on-charts-of-accounts","status":"publish","type":"page","link":"https:\/\/jonestown.sdsu.edu\/?page_id=123837","title":{"rendered":"x-3-g-5a \u2013 5b \u2022 Suggestions On Charts Of Accounts"},"content":{"rendered":"

To Tish
\nFrom Gene<\/p>\n

SUGGESTIONS ON CHARTS OF ACCOUNTS<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/td>\nComment<\/td>\n<\/tr>\n
106<\/td>\nB will never have a savings account, no banks in area; delete<\/td>\n<\/tr>\n
108, 109<\/td>\nShould be “cash account”<\/td>\n<\/tr>\n
111<\/td>\nToo general. What would they be?<\/td>\n<\/tr>\n
\u00a0112<\/td>\nWe need a separate accounts receivable for each operation: boat, eggs, dairy, cattle, farm, mill, cassava plant, so we can review each one separately<\/td>\n<\/tr>\n
113-116<\/td>\nDoes this include “goods on hand”?, “Work in progress”?. How to handle half grown crops \u2013 are they an asset? At what stage of maturity?<\/td>\n<\/tr>\n
123<\/td>\nNeed a separate account for each building \u2013 maybe not in Georgetown \u2013 what do you think? Example: vegetable market, lumberyard, office\/home, church<\/td>\n<\/tr>\n
140 etc.<\/td>\nNo account for cleared land per se \u2013 is it an asset? I think so, nor an expense account for the cost of land clearing<\/td>\n<\/tr>\n
141-165<\/td>\nNeed a separate account for each finished structure, and a work in progress or construction account for each structure during construction. Otherwise we will be able to show cost for depreciation. See comment to #112. Also for unallocated construction supplies & equipment.<\/td>\n<\/tr>\n
194-5<\/td>\nHow and when do you make entries? When a calf is born or a tree planted? Both valued much higher 4 years later.<\/td>\n<\/tr>\n
200 Series<\/td>\nThere should be one set up for each business from the start \u2013 we will have to do it here anyway.<\/td>\n<\/tr>\n
281-297<\/td>\nIrrelevant, Delete<\/td>\n<\/tr>\n
311<\/td>\nShould refer to A only<\/td>\n<\/tr>\n
312<\/td>\nSeparate account for each business<\/td>\n<\/tr>\n
412<\/td>\nShould be NIS<\/td>\n<\/tr>\n
411<\/td>\nShould be Withholding income tax<\/td>\n<\/tr>\n
415<\/td>\nDelete, no sales tax here, should be “Tax Stamps”<\/td>\n<\/tr>\n
420-29 Series<\/td>\nAdd photo expense, equipment costs, secretarial supplies<\/td>\n<\/tr>\n
440 Series<\/td>\nAdd on account for medical and drugs, this is a big item. I separated the housing & business functions on mine, it is a better way.<\/td>\n<\/tr>\n
450 Series<\/td>\nShould be a separate series for farm, pigs, dairy, cattle, cassava plant. Where do we put leasehold improvements such as fencing, pasture, etc.<\/td>\n<\/tr>\n
501<\/td>\nNote most lease expense. Example: Survey should be capitalized. If they took the lease back\u00a0 (or part of it) they would have to pay us. They capitalize it.<\/td>\n<\/tr>\n
505<\/td>\nDelete. None there, could replace with radio cost, mostly M&R<\/td>\n<\/tr>\n
508<\/td>\nSevered account for residential and each business.<\/td>\n<\/tr>\n
510-512<\/td>\nSee comments on A. Also note: Most of our payment is to labor contractors, farm should have such an account<\/td>\n<\/tr>\n
516<\/td>\nAll exchange costs are borne by A<\/td>\n<\/tr>\n
514<\/td>\nSeparate account for each business<\/td>\n<\/tr>\n
532<\/td>\nNone, delete<\/td>\n<\/tr>\n
500-30<\/td>\nOne for each business<\/td>\n<\/tr>\n
540 Series<\/td>\nAdd an account for chickens (we grow our own, but not mix in food), medical, allowances, each<\/td>\n<\/tr>\n
600-25 Series<\/td>\nWe\u2019ll probably end up with several boats of different sizes, two maybe “business” the others not. Each business boat will need its own accounting.<\/td>\n<\/tr>\n
750 etc.<\/td>\nWe need a theft and casualty loss account<\/td>\n<\/tr>\n
766<\/td>\nWhere do we depreciate the sawmill buildings and equipment as a separate entity?<\/td>\n<\/tr>\n
776 Series<\/td>\nSeparate set for farm, pigs, dairy, cattle, cassava plant<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Well, let me know. I may not have it understood, if so clarify. We buy pigs in March.<\/p>\n

Love, Gene<\/p>\n","protected":false},"excerpt":{"rendered":"

To Tish From Gene SUGGESTIONS ON CHARTS OF ACCOUNTS # Comment 106 B will never have a savings account, no banks in area; delete 108, 109 Should be “cash account” 111 Too general. What would they be? \u00a0112 We need a separate accounts receivable for each operation: boat, eggs, dairy, cattle, farm, mill, cassava plant, […]<\/p>\n","protected":false},"author":8,"featured_media":0,"parent":88051,"menu_order":17,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-123837","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/pages\/123837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123837"}],"version-history":[{"count":4,"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/pages\/123837\/revisions"}],"predecessor-version":[{"id":123841,"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/pages\/123837\/revisions\/123841"}],"up":[{"embeddable":true,"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=\/wp\/v2\/pages\/88051"}],"wp:attachment":[{"href":"https:\/\/jonestown.sdsu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}