Get Your E-Commerce Chart of Accounts 2023

In the e-commerce industry, you have a million things to track: manufacturers, shipping, inventory, employees, bills, sales tax, and more.

Now imagine that you need to find out what you bought for $191.21 last February at online… and why.

Perhaps your operations manager or worse, the IRS, needs to see all of the receipts in the business from May to November last year.

Are you going to hunt through a pile of receipts in your inbox?

We hope not!

This is where your e-commerce chart of accounts comes in.

In today’s blog, we’re going to go over what the chart of accounts is, why you need one, and how to create a chart of accounts for your e-commerce business.

Let’s dive in.

What is an e-commerce chart of accounts?

First things first, let’s discuss what a chart of accounts is.

An easy way to think about it is like a table of contents for your finances. It’s an ordered list of sections, or categories, for all of your transactions.

More often than not, it’s uploaded to your bookkeeping software (QuickBooks, Xero, etc.) to help organize all of your financial transactions.

With a chart of accounts, everything from a shipping cost to a utility bill is recorded into an appropriate category, making it easy for you to locate any piece of financial data at any time.

Here’s a sample of what that could look like for an e-commerce chart of accounts:

1300	Inventory
1301	Inventory:Inventory On-Hand
1350	Inventory:Inventory In-Transit
1375	Inventory:Inventory Landing Cost Allocation

Why is an e-commerce chart of accounts important?

A chart of accounts is important because it provides consistency and accuracy in financial reporting.

Without it, your bookkeeping software will just become a vast pit of various transactions – aka your inbox – with no order or organization to it at all.

Additionally, putting your transactions into designated categories helps you generate financial reports, and makes it easier to track and analyze financial trends.

Plus, it ensures compliance with accounting standards and regulations, which is essential for audits and financial reporting.

How do you use your e-commerce chart of accounts?

The chart of accounts is most commonly used in your bookkeeping or accounting software, and depending on which software tool you use, the process for uploading your chart of accounts will differ.

For QuickBooks, you can follow these instructions:

1. Sign in to QuickBooks Online.
2. Select Settings ⚙. Then select Import Data.
3. Select Chart of Accounts.
4. To upload a file from your computer, select Browse and choose the file. Then select Open.
5. Select Next.
6. Map your spreadsheet to QuickBooks fields
7. Import your chart of accounts

For Xero, you can follow these instructions.

Our advice? Make a copy of our E-Commerce Chart of Accounts customize it for your business, and upload it to your bookkeeping software. Voila!

Download your e-commerce chart of accounts template 2023

While your e-commerce business may be more complex than the average small business, the good news is that your chart of accounts doesn’t need to be.

To make it easy for you, we’ve made a template of the e-commerce chart of accounts that we use with our clients.

Note: your chart of accounts should be unique to your company, and will vary depending on how you track your projects. To get help with your specific chart of accounts, you can reach out to our team anytime.

Account # (These are optional)	Account	Type	Detail type
1000	Checking	Bank	Checking
1003	Savings	Bank	Savings
1004	Money Market	Bank	Money Market
1005	Mutual Funds	Bank	Money Market
1012	Funds In Transit:Affirm Holding	Bank	Checking
1013	Funds In Transit:Afterpay Holding	Bank	Checking
1014	Funds In Transit:PayPal Holding	Bank	Checking
1015	Funds In Transit:Shopify Holding	Bank	Checking
1016	Funds In Transit:Amazon Pay Holding	Bank	Checking
1017	Funds In Transit:iGlobal Holding	Bank	Checking
1018	Funds In Transit:Stripe Holding	Bank	Checking
1020	Funds In Transit:Amazon Pending Balances	Bank	Checking
1021	Funds In Transit:Amazon Reserved Balances	Bank	Checking
1200	Accounts Receivable	Accounts receivable (A/R)	Accounts Receivable (A/R)
1090	Undeposited Funds	Other Current Assets	Undeposited Funds
1275	Prepaid Expenses	Other Current Assets	Prepaid Expenses
1300	Inventory	Other Current Assets	Inventory
1301	Inventory:Inventory On-Hand	Other Current Assets	Inventory
1350	Inventory:Inventory In-Transit	Other Current Assets	Inventory
1375	Inventory:Inventory Landing Cost Allocation	Other Current Assets	Inventory
1400	Amazon Carried Balances	Other Current Assets	Other Current Assets
1500	Furniture and Equipment	Fixed Assets	Other fixed assets
1510	Computer Equipment	Fixed Assets	Other fixed assets
1600	Accumulated Depreciation	Fixed Assets	Other fixed assets
1700	Startup and Organization	Fixed Assets	Intangible Assets
1800	Accumulated Amortization	Fixed Assets	Intangible Assets
1325	Prepaid Inventory Deposits	Other Assets	Security Deposits
2000	Accounts Payable	Accounts payable (A/P)	Accounts Payable (A/P)
2050	Inventory Payable	Accounts payable (A/P)	Accounts Payable (A/P)
2200	Amex – (xxxx)	Credit Card	Credit Card
2201	Credit Card (xxxx)	Credit Card	Credit Card
2375	Payroll Liabilities:Accrued Expense – 401K	Other Current Liabilities	Payroll Clearing
2380	Payroll Liabilities:Accrued Expenses – Wages	Other Current Liabilities	Payroll Clearing
2400	Gift Card Liability	Other Current Liabilities	Other Current Liabilities
2500	Sales Tax Liability	Other Current Liabilities	Sales Tax Payable
2600	Deferred Revenue	Other Current Liabilities	Other Current Liabilities
2700	Amazon Loans	Other Current Liabilities	Other Current Liabilities
3000	Opening Balance Equity	Equity	Opening Balance Equity
3001	Retained Earnings	Equity	Retained Earnings
3002	Distributions	Equity	Accumulated Adjustment
3100	Partner Equity	Equity	Owner’s Equity
3110	Partner Draws	Equity	Partner Distributions
4000	Website Sales	Income	Sales of Product Income
4010	Website Sales:Refunds	Income	Discounts/Refunds Given
4020	Website Sales:Customer Discounts	Income	Service/Fee Income
4030	Website Sales:Shopify Markdowns	Income	Service/Fee Income
4040	Website Sales:Shipping Income	Income	Service/Fee Income
4050	Website Sales:Shipping Protection Income	Income	Other Primary Income
4100	Amazon Sales	Income	Sales of Product Income
4110	Amazon Sales:Amazon Refunds	Income	Sales of Product Income
4120	Amazon Sales:Amazon Discounts	Income	Discounts/Refunds Given
4130	Amazon Sales:Amazon Markdowns	Income	Discounts/Refunds Given
4140	Amazon Sales:Amazon Shipping	Income	Other Primary Income
4150	Amazon Sales:Amazon Reimbursement	Income	Other Primary Income
4250	Other Sales	Income	Sales of Product Income
4300	Wholesale Income	Income	Sales of Product Income
4900	Uncategorized Income	Income	Service/Fee Income
5000	Cost of Goods Sold	Cost of Goods Sold	Supplies & Materials – COGS
5010	Freight-in Costs	Cost of Goods Sold	Supplies & Materials – COGS
5020	Customs	Cost of Goods Sold	Other Costs of Services – COS
5050	Product Design Expense	Cost of Goods Sold	Supplies & Materials – COGS
5090	Inventory Adjustment	Cost of Goods Sold	Supplies & Materials – COGS
5700	Freight-Out	Cost of Goods Sold	Shipping, Freight & Delivery – COS
5750	Shipping Materials	Cost of Goods Sold	Shipping, Freight & Delivery – COS
5100	GENERAL & ADMINISTRATIVE:Ask Client	Expenses	Other Business Expenses
5400	SELLING & FULFILLMENT	Expenses	Advertising/Promotional
5500	SELLING & FULFILLMENT:Merchant Account Fees	Expenses	Other Miscellaneous Service Cost
5501	SELLING & FULFILLMENT:Merchant Account Fees:Shopify Fees	Expenses	Other Miscellaneous Service Cost
5502	SELLING & FULFILLMENT:Merchant Account Fees:Amazon Pay Fees	Expenses	Other Miscellaneous Service Cost
5505	SELLING & FULFILLMENT:Merchant Account Fees:Affirm Fees	Expenses	Other Miscellaneous Service Cost
5510	SELLING & FULFILLMENT:Merchant Account Fees:Afterpay Fees	Expenses	Other Miscellaneous Service Cost
5515	SELLING & FULFILLMENT:Merchant Account Fees:iGlobal Fees	Expenses	Other Miscellaneous Service Cost
5520	SELLING & FULFILLMENT:Merchant Account Fees:Paypal Fees	Expenses	Other Miscellaneous Service Cost
5530	SELLING & FULFILLMENT:Merchant Account Fees:Amazon Seller Fees	Expenses	Other Miscellaneous Service Cost
5550	SELLING & FULFILLMENT:Merchant Account Fees:Amazon Optivations Fees	Expenses	Advertising/Promotional
5600	SELLING & FULFILLMENT:Fulfillment	Expenses	Other Business Expenses
5625	SELLING & FULFILLMENT:Fulfillment:Fulfillment – Labor	Expenses	Other Miscellaneous Service Cost
5650	SELLING & FULFILLMENT:Fulfillment:Order Fulfillment	Expenses	Other Business Expenses
5660	SELLING & FULFILLMENT:Fulfillment:Amazon FBA Fees	Expenses	Shipping, Freight & Delivery
5800	SELLING & FULFILLMENT:Warehouse Storage	Expenses	Other Business Expenses
5810	SELLING & FULFILLMENT:Warehouse Storage:Account Mainenance	Expenses	Supplies & Materials
5820	SELLING & FULFILLMENT:Warehouse Storage:Space Usage	Expenses	Supplies & Materials
6000	MARKETING	Expenses	Other Miscellaneous Service Cost
6002	MARKETING:Affiliate Commissions	Expenses	Other Miscellaneous Service Cost
6003	MARKETING:Marketing Contractors	Expenses	Advertising/Promotional
6005	MARKETING:Marketing Events & Materials:Displays	Expenses	Advertising/Promotional
6010	MARKETING:Marketing Events & Materials:Expo Fees	Expenses	Advertising/Promotional
6015	MARKETING:Marketing Events & Materials:Photography	Expenses	Advertising/Promotional
6020	MARKETING:Marketing IT:Client Development	Expenses	Advertising/Promotional
6025	MARKETING:Marketing IT:Direct Marketing	Expenses	Advertising/Promotional
6030	MARKETING:Marketing Events & Materials:Event Expense	Expenses	Advertising/Promotional
6035	MARKETING:Digital Advertising:Facebook Advertising	Expenses	Advertising/Promotional
6040	MARKETING:Digital Advertising:Google Advertising	Expenses	Advertising/Promotional
6045	MARKETING:Digital Advertising:Pinterest Advertising	Expenses	Advertising/Promotional
6046	MARKETING:Promotional:Promotional Gift Cards	Expenses	Advertising/Promotional
6047	MARKETING:Promotional:Product Giveaways	Expenses	Advertising/Promotional
6048	MARKETING:Promotional:Product Giveaway Freight	Expenses	Advertising/Promotional
6050	MARKETING:Marketing Events & Materials:Uniform	Expenses	Advertising/Promotional
6055	MARKETING:Marketing Events & Materials:Website	Expenses	Advertising/Promotional
6060	MARKETING:Promotional	Expenses	Advertising/Promotional
6061	MARKETING:Marketing Events & Materials:Graphic Designer	Expenses	Advertising/Promotional
6065	MARKETING:Digital Advertising:Amazon Advertising	Expenses	Advertising/Promotional
6070	MARKETING:Marketing IT	Expenses	Other Business Expenses
6080	MARKETING:Marketing Events & Materials	Expenses	Advertising/Promotional
6090	MARKETING:Digital Advertising	Expenses	Advertising/Promotional
6095	MARKETING:Digital Advertising:Ad Management	Expenses	Advertising/Promotional
6200	GENERAL & ADMINISTRATIVE	Expenses	Office/General Administrative Expenses
6201	GENERAL & ADMINISTRATIVE:Misc G&A:General & Admin Expenses	Expenses	Office/General Administrative Expenses
6205	GENERAL & ADMINISTRATIVE:Misc G&A:Automobile Expense	Expenses	Other Miscellaneous Service Cost
6210	GENERAL & ADMINISTRATIVE:Misc G&A:Bank Service Charges	Expenses	Other Miscellaneous Service Cost
6213	GENERAL & ADMINISTRATIVE:Misc G&A:Business Licenses and Taxes	Expenses	Other Miscellaneous Service Cost
6214	GENERAL & ADMINISTRATIVE:Charitable Donations	Expenses	Charitable Contributions
6215	GENERAL & ADMINISTRATIVE:Contract Labor	Expenses	Other Business Expenses
6217	GENERAL & ADMINISTRATIVE:Misc G&A:Office IT Subscriptions	Expenses	Other Miscellaneous Service Cost
6218	GENERAL & ADMINISTRATIVE:Insurance Expense	Expenses	Insurance
6219	GENERAL & ADMINISTRATIVE:Life Insurance	Expenses	Insurance
6220	GENERAL & ADMINISTRATIVE:Misc G&A:Meals and Entertainment	Expenses	Entertainment Meals
6221	GENERAL & ADMINISTRATIVE:Misc G&A:Office Supplies & Equipment	Expenses	Other Miscellaneous Service Cost
6222	PERSONNEL	Expenses	Payroll Expenses
6223	PERSONNEL:Wages	Expenses	Payroll Expenses
6224	PERSONNEL:Bonuses	Expenses	Payroll Expenses
6226	PERSONNEL:Employee Benefits & Admin.:Medical, Dental, Vision	Expenses	Payroll Expenses
6227	PERSONNEL:Employee Benefits & Admin.:401K expense	Expenses	Payroll Expenses
6228	PERSONNEL:Employee Benefits & Admin.:Payroll Taxes	Expenses	Payroll Expenses
6229	PERSONNEL:Employee Benefits & Admin.:Benefits Admin	Expenses	Payroll Expenses
6230	PERSONNEL:Other Payroll Expenses	Expenses	Payroll Expenses
6231	PERSONNEL:Officers Compensation	Expenses	Payroll Expenses
6232	PERSONNEL:Employee Benefits & Admin.:Employee Incentives	Expenses	Payroll Expenses
6234	GENERAL & ADMINISTRATIVE:Professional Fees	Expenses	Legal & Professional Fees
6236	GENERAL & ADMINISTRATIVE:Professional Fees:Legal Fees	Expenses	Legal & Professional Fees
6237	GENERAL & ADMINISTRATIVE:Professional Fees:Accounting	Expenses	Other Miscellaneous Service Cost
6238	GENERAL & ADMINISTRATIVE:Professional Fees:Income Tax Fees	Expenses	Legal & Professional Fees
6239	GENERAL & ADMINISTRATIVE:Professional Fees:Sales Tax Fees	Expenses	Legal & Professional Fees
6240	PERSONNEL:Employee Benefits & Admin.:HR Services	Expenses	Other Miscellaneous Service Cost
6243	GENERAL & ADMINISTRATIVE:Product Development Materials	Expenses	Other Business Expenses
6250	PERSONNEL:Employee Benefits & Admin.	Expenses	Other Business Expenses
6290	GENERAL & ADMINISTRATIVE:Misc G&A:Gifts	Expenses	Other Business Expenses
6300	GENERAL & ADMINISTRATIVE:Misc G&A:Franchise Taxes Paid	Expenses	Taxes Paid
6600	GENERAL & ADMINISTRATIVE:Travel Expense	Expenses	Travel
6700	GENERAL & ADMINISTRATIVE:Facility Expense	Expenses	Rent or Lease of Buildings
6710	GENERAL & ADMINISTRATIVE:Facility Expense:Rent Expense	Expenses	Rent or Lease of Buildings
6715	GENERAL & ADMINISTRATIVE:Facility Expense:Office Expenses	Expenses	Office/General Administrative Expenses
6720	GENERAL & ADMINISTRATIVE:Facility Expense:Repairs and Maintenance	Expenses	Repair & Maintenance
6730	GENERAL & ADMINISTRATIVE:Facility Expense:Janitorial Expense	Expenses	Repair & Maintenance
6740	GENERAL & ADMINISTRATIVE:Facility Expense:Other Facility	Expenses	Repair & Maintenance
6745	GENERAL & ADMINISTRATIVE:Facility Expense:Computer and Internet Expenses	Expenses	Office/General Administrative Expenses
6800	GENERAL & ADMINISTRATIVE:Facility Expense:Property Tax	Expenses	Taxes Paid
6810	GENERAL & ADMINISTRATIVE:Facility Expense:Telephone Expense	Expenses	Office/General Administrative Expenses
6860	GENERAL & ADMINISTRATIVE:Facility Expense:Utilities	Expenses	Other Miscellaneous Service Cost
6900	GENERAL & ADMINISTRATIVE:Misc G&A:Uncategorized Expense	Expenses	Other Miscellaneous Service Cost
6904	GENERAL & ADMINISTRATIVE:Royalty	Expenses	Advertising/Promotional
6905	GENERAL & ADMINISTRATIVE:Misc G&A:Penalties	Expenses	Other Miscellaneous Service Cost
6910	GENERAL & ADMINISTRATIVE:Misc G&A:Reconciliation Discrepancies	Expenses	Other Miscellaneous Service Cost
6690	Interest Income	Other Income	Interest Earned
6920	Dividend Income	Other Income	Dividend Income
6930	Gain/Loss on Sale	Other Income	Other Investment Income
6935	Purchase Discount	Other Income	Other Miscellaneous Income
8000	Interest Expense	Other Expense	Other Miscellaneous Expense
8100	Depreciation Expense	Other Expense	Depreciation
8200	Amortization Expense	Other Expense	Amortization

You can download your own chart of accounts template here.

Do you need help organizing your e-commerce bookkeeping?

We hope you’ve enjoyed our brief overview of the e-commerce chart of accounts.

You can download your own chart of accounts template here.

However, we’ve only touched the tip of the iceberg when it comes to keeping healthy books for your e-commerce business.

If you have more questions, need confirmation, or just want someone to take bookkeeping off of your hands altogether, we’re here to help.

It’s what we’re here for!

Simply use our form here to get started.

Until next time!