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TeamWorks Sample Chart of Accounts for Worker Cooperatives
in Cleaning and Related Service Industries
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This samle is for a co-op organized as a Limited Liability Company with a Corporate Member for holding permanent capital and member capital credits for distibution out of future year profits.
For other legal structures such as cooperative corporations, it is easily adapted by making a few minor changes to how the equity account lines are set up.
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Account
TypeNotes
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Checking Account -- XYZ Bank
XYZ Credit UnionBank
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Petty Cash - Dinero para Gastos Menores
Bank
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[name of member] - Petty Cash - Dinero para Gastos Menores
Bank
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[name of member] - Petty Cash - Dinero para Gastos Menores
Bank
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Accounts Receivable - Cuentas Pendientes
Accounts receivable (A/R)
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Credit Card Receivables
Other Current Assets
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Micro Loans Outstanding - Micro Prestamos Pendientes
Other Current Assets
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[name of member]-loan -prestamo
Other Current Assets
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[name of member]-Loan -Prestamo
Other Current Assets
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[name of member] - loan- Prestamo
Other Current Assets
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Other Current Assets
Other Current Assets
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Prepaid Expenses - Gastos Prepagados
Other Current Assets
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Reimbursable Expenses - Gastos Reembolsables
Other Current Assetsto be reimbursed by clients
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Undeposited Funds - Fondos sin Depositar
Other Current Assets
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Deposits - Depositos
Other Assets
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Multi-Period G & D
Other Assets
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Other Assets - Otros Recursos
Other Assets
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Accounts Payable - Cuentas a Pagar
Accounts payable (A/P)
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Business Credit Card
Credit Card
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Gift Certificates/Pre-Paid Service
Other Current Liabilities
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Kiva Loans
Other Current Liabilities
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Late-to-Meetings Fund - Fondo de Llegada Tarde a Reuniones
Other Current Liabilitiesfee deducted from candiate pay and member distributions for being late to meetings
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Member Distributions Payable
Other Current Liabilities
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Members' Voluntary Tax Witholding - Descuento Voluntario para Pago de Impuestos de Miembros
Other Current Liabilities
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[name of member]
Other Current Liabilities
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[name of member]
Other Current Liabilities
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[name of member]
Other Current Liabilities
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Misc. Payroll Deductions Payable
Other Current Liabilities
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Other Current Liabilities - Otros Pasivos Corrientes
Other Current LiabilitiesVoluntary Tax Withholding
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Payroll Tax Payable - Impuestos de Sueldos a Pagar
Other Current Liabilities
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Massena Fdn loan - prestamo - Peninsula
Long Term Liabilities
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Opportunity Fund - Peninsula Loan
Long Term Liabilitiesloan taken over from TW-Peninsula cleaning
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Current Yr. Capital Distributions - Distribuciones de Capital de Ano Actual
Equity
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ICA Distributions - Distribuciones de ICA
EquityQualifying advances made throughout the year against profits -- at the end of year, General Journal entries are made to allocate actual surplus ("profit") to cover these draws.
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Interest Distributions - Distribuciones de Interes
EquityQualifying advances made throughout the year against profits -- at the end of year, General Journal entries are made to allocate actual surplus ("profit") to cover these draws.
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PTO Distribution (vacation/sick) - Distribucion PTO (vacaciones/enfermedad)
EquityQualifying advances made throughout the year against profits -- at the end of year, General Journal entries are made to allocate actual surplus ("profit") to cover these draws.
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Membership Contribution - Membrecia
Equity
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[name of member]-Membership Contribution -Membresia
Equity
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[name of member] - Membership Contribution - Membrecia
Equity
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[name of member]- Membership Contribution
Equity
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[name of member] -Membership Contribution-Membresia
Equity
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[name of member],Vicky-Membership Contribution-Membresia
Equity
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[name of member]-Membership contribution-membresia
Equity
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[name of member]Membership Contribution -Membresia
Equity
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[name of member] - Membership Contribution - Membrecia
Equity
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[name of member] - Membership Contribution - Membrecia
Equity
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[name of member] - Membership Contribution - Membrecia
Equity
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[name of member] - Membership Contribution- Membrecia
Equity
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[name of member]- Membership Contribution- Membrecia
Equity
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Opening Bal Equity
Equity
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Retained Earnings
Equity
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TW LA Perm. Capital, Inc.
Equity
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Individual Credits - Creditos Individuales ICA
EquityIndividual Capital credits: These are based on surplus ("profit") from a given year that members can withdraw in a future years -- generally after being vested for 2 years.
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Flexible Credits
EquityFlexible Credits: These are based on surplus ("profit") from a given year that members can withdraw during the following year for paid time off, and if not used are then paid out the following December.
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Micro Loan Fund - Fondo de Micro Prestamos
Equityfunds allocated for micro-loan fund
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Permanent Capital - Capital Permanente
Equity
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PTO Credits - Creditos de Descanso Pagados
EquityPait Time Off credits: These are based on surplus ("profit") from a given year that members can withdraw for qualifying sick leave and vacation pay.
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Cleaning Income
Income
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Management Services - Servicios de Gestion
Incomeincome from providing bookkeeping, customer service, etc. to other co-ops/businesses
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Misc Client Income
Income
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Unapplied Cash Payment Income
Income
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Cost of Services -- Costo de Servicios
Cost of Services is the same concept as Cost of Goods Sold (COGS), and many accounting software systems like Quickbooks Online the "account type" will show as COGS and can't be changed to (COS)
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Breakage & Complaints - Roturas y Quejas
Cost of Goods Soldreplacement client's property and refunds due to TW mistakes
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Cleaning Supplies - Materiales de Limpieza
Cost of Goods Sold
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Labor - Mano de Obra
Cost of Goods Sold
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Employee Pay (Labor) - Pago, Empleadas (Mano de Obra)
Cost of Goods Sold
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Insur. Workers Comp - Aseguranza Empleados
Cost of Goods Sold
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Member Dist. (Labor) - Dist. a Miembros (Mano de Obra)
Cost of Goods Sold
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Member Health Ins. (Labor) - Aseg. Medica (Mano de Obra)
Cost of Goods Sold
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Payroll Taxes (Labor)- Taxes (Mano de Obra)
Cost of Goods Sold
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Laundry - Cleaning Rags - Limpieza de Trapos
Cost of Goods SoldLaundry-Cleaning Rags
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Liability Insurance - Aseguranza de Responsibilidades
Cost of Goods SoldYes, we know that conventionally liability insurance is considered "overhead" and so would not be here under COS. We learned that our insurance carriers would request actual sales figures after a year of coverage ended and would adjust the premium accordingly. So for our financial analysis and planning it was helpful to plan that as sales increase our insurance cost will go up proportionately.
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Mileage, cleaning - Millas, limpieza
Cost of Goods Sold
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Misc. Expense, Cleaning - Gasto Misc., Limpieza
Cost of Goods Sold
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Phones, field - Telefonos, campo
Cost of Goods Sold
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Uniforms - Uniformes
Cost of Goods Sold
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General Expenses - Gasots Generales
Expenses
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Accounting & Legal Expense - Pagos a Contabilidad y Ayuda Legal
Expenses
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Bad Debts -- Deuda Incobrables
Expenses
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Co-Pay Reimbursements - Reembolso de Co-Pagos
Expenses
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Credit Card Processing - Procesamiento de Tarjetas de Credito
Expenses
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Employee Recognition - Reconocimiento Empleados
Expenses
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Permits, Local/State Taxes, & Dues - Cuotas, Permisos, Impuestos Locales/Estatales
Expenses
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Interest, External - Intereses, Externos
Expenses
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Management - Gestion
Expenses
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Contracted Management (1099) - Gestion ContratadoExpenseswork sub-contracted to another TW Co-op
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Employee Pay (Management) - Pago Empl. (Gerentes)Expenses
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Health Insurance (Management) - Aseg. Medica (Gestion)Expenses
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Member Dist (Management) - Dist. a Miembros (Gestion)Expenses
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Payroll Taxes (Mngmt) - Taxes de Sueldos (Gerentes)Expenses
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Transfer Mngmt. expense to G&D - Transferencia Gestion a C&DExpenses
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Meeting Expense - Gastos de Reuniones
Expensesmtg room rental, refreshments, etc