Get Your E-Commerce Chart of Accounts 2023

10 min read
Ecommerce Chart of Accounts

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:

1301Inventory:Inventory On-Hand
1350Inventory:Inventory In-Transit
1375Inventory: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?

e-commerce chart of accounts template

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)AccountTypeDetail type
1004Money MarketBankMoney Market
1005Mutual FundsBankMoney Market
1012Funds In Transit:Affirm HoldingBankChecking
1013Funds In Transit:Afterpay HoldingBankChecking
1014Funds In Transit:PayPal HoldingBankChecking
1015Funds In Transit:Shopify HoldingBankChecking
1016Funds In Transit:Amazon Pay HoldingBankChecking
1017Funds In Transit:iGlobal HoldingBankChecking
1018Funds In Transit:Stripe HoldingBankChecking
1020Funds In Transit:Amazon Pending BalancesBankChecking
1021Funds In Transit:Amazon Reserved BalancesBankChecking
1200Accounts ReceivableAccounts receivable (A/R)Accounts Receivable (A/R)
1090Undeposited FundsOther Current AssetsUndeposited Funds
1275Prepaid ExpensesOther Current AssetsPrepaid Expenses
1300InventoryOther Current AssetsInventory
1301Inventory:Inventory On-HandOther Current AssetsInventory
1350Inventory:Inventory In-TransitOther Current AssetsInventory
1375Inventory:Inventory Landing Cost AllocationOther Current AssetsInventory
1400Amazon Carried BalancesOther Current AssetsOther Current Assets
1500Furniture and EquipmentFixed AssetsOther fixed assets
1510Computer EquipmentFixed AssetsOther fixed assets
1600Accumulated DepreciationFixed AssetsOther fixed assets
1700Startup and OrganizationFixed AssetsIntangible Assets
1800Accumulated AmortizationFixed AssetsIntangible Assets
1325Prepaid Inventory DepositsOther AssetsSecurity Deposits
2000Accounts PayableAccounts payable (A/P)Accounts Payable (A/P)
2050Inventory PayableAccounts payable (A/P)Accounts Payable (A/P)
2200Amex – (xxxx)Credit CardCredit Card
2201Credit Card (xxxx)Credit CardCredit Card
2375Payroll Liabilities:Accrued Expense – 401KOther Current LiabilitiesPayroll Clearing
2380Payroll Liabilities:Accrued Expenses – WagesOther Current LiabilitiesPayroll Clearing
2400Gift Card LiabilityOther Current LiabilitiesOther Current Liabilities
2500Sales Tax LiabilityOther Current LiabilitiesSales Tax Payable
2600Deferred RevenueOther Current LiabilitiesOther Current Liabilities
2700Amazon LoansOther Current LiabilitiesOther Current Liabilities
3000Opening Balance EquityEquityOpening Balance Equity
3001Retained EarningsEquityRetained Earnings
3002DistributionsEquityAccumulated Adjustment
3100Partner EquityEquityOwner’s Equity
3110Partner DrawsEquityPartner Distributions
4000Website SalesIncomeSales of Product Income
4010Website Sales:RefundsIncomeDiscounts/Refunds Given
4020Website Sales:Customer DiscountsIncomeService/Fee Income
4030Website Sales:Shopify MarkdownsIncomeService/Fee Income
4040Website Sales:Shipping IncomeIncomeService/Fee Income
4050Website Sales:Shipping Protection IncomeIncomeOther Primary Income
4100Amazon SalesIncomeSales of Product Income
4110Amazon Sales:Amazon RefundsIncomeSales of Product Income
4120Amazon Sales:Amazon DiscountsIncomeDiscounts/Refunds Given
4130Amazon Sales:Amazon MarkdownsIncomeDiscounts/Refunds Given
4140Amazon Sales:Amazon ShippingIncomeOther Primary Income
4150Amazon Sales:Amazon ReimbursementIncomeOther Primary Income
4250Other SalesIncomeSales of Product Income
4300Wholesale IncomeIncomeSales of Product Income
4900Uncategorized IncomeIncomeService/Fee Income
5000Cost of Goods SoldCost of Goods SoldSupplies & Materials – COGS
5010Freight-in CostsCost of Goods SoldSupplies & Materials – COGS
5020CustomsCost of Goods SoldOther Costs of Services – COS
5050Product Design ExpenseCost of Goods SoldSupplies & Materials – COGS
5090Inventory AdjustmentCost of Goods SoldSupplies & Materials – COGS
5700Freight-OutCost of Goods SoldShipping, Freight & Delivery – COS
5750Shipping MaterialsCost of Goods SoldShipping, Freight & Delivery – COS
5100GENERAL & ADMINISTRATIVE:Ask ClientExpensesOther Business Expenses
5400SELLING & FULFILLMENTExpensesAdvertising/Promotional
5500SELLING & FULFILLMENT:Merchant Account FeesExpensesOther Miscellaneous Service Cost
5501SELLING & FULFILLMENT:Merchant Account Fees:Shopify FeesExpensesOther Miscellaneous Service Cost
5502SELLING & FULFILLMENT:Merchant Account Fees:Amazon Pay FeesExpensesOther Miscellaneous Service Cost
5505SELLING & FULFILLMENT:Merchant Account Fees:Affirm FeesExpensesOther Miscellaneous Service Cost
5510SELLING & FULFILLMENT:Merchant Account Fees:Afterpay FeesExpensesOther Miscellaneous Service Cost
5515SELLING & FULFILLMENT:Merchant Account Fees:iGlobal FeesExpensesOther Miscellaneous Service Cost
5520SELLING & FULFILLMENT:Merchant Account Fees:Paypal FeesExpensesOther Miscellaneous Service Cost
5530SELLING & FULFILLMENT:Merchant Account Fees:Amazon Seller FeesExpensesOther Miscellaneous Service Cost
5550SELLING & FULFILLMENT:Merchant Account Fees:Amazon Optivations FeesExpensesAdvertising/Promotional
5600SELLING & FULFILLMENT:FulfillmentExpensesOther Business Expenses
5625SELLING & FULFILLMENT:Fulfillment:Fulfillment – LaborExpensesOther Miscellaneous Service Cost
5650SELLING & FULFILLMENT:Fulfillment:Order FulfillmentExpensesOther Business Expenses
5660SELLING & FULFILLMENT:Fulfillment:Amazon FBA FeesExpensesShipping, Freight & Delivery
5800SELLING & FULFILLMENT:Warehouse StorageExpensesOther Business Expenses
5810SELLING & FULFILLMENT:Warehouse Storage:Account MainenanceExpensesSupplies & Materials
5820SELLING & FULFILLMENT:Warehouse Storage:Space UsageExpensesSupplies & Materials
6000MARKETINGExpensesOther Miscellaneous Service Cost
6002MARKETING:Affiliate CommissionsExpensesOther Miscellaneous Service Cost
6003MARKETING:Marketing ContractorsExpensesAdvertising/Promotional
6005MARKETING:Marketing Events & Materials:DisplaysExpensesAdvertising/Promotional
6010MARKETING:Marketing Events & Materials:Expo FeesExpensesAdvertising/Promotional
6015MARKETING:Marketing Events & Materials:PhotographyExpensesAdvertising/Promotional
6020MARKETING:Marketing IT:Client DevelopmentExpensesAdvertising/Promotional
6025MARKETING:Marketing IT:Direct MarketingExpensesAdvertising/Promotional
6030MARKETING:Marketing Events & Materials:Event ExpenseExpensesAdvertising/Promotional
6035MARKETING:Digital Advertising:Facebook AdvertisingExpensesAdvertising/Promotional
6040MARKETING:Digital Advertising:Google AdvertisingExpensesAdvertising/Promotional
6045MARKETING:Digital Advertising:Pinterest AdvertisingExpensesAdvertising/Promotional
6046MARKETING:Promotional:Promotional Gift CardsExpensesAdvertising/Promotional
6047MARKETING:Promotional:Product GiveawaysExpensesAdvertising/Promotional
6048MARKETING:Promotional:Product Giveaway FreightExpensesAdvertising/Promotional
6050MARKETING:Marketing Events & Materials:UniformExpensesAdvertising/Promotional
6055MARKETING:Marketing Events & Materials:WebsiteExpensesAdvertising/Promotional
6061MARKETING:Marketing Events & Materials:Graphic DesignerExpensesAdvertising/Promotional
6065MARKETING:Digital Advertising:Amazon AdvertisingExpensesAdvertising/Promotional
6070MARKETING:Marketing ITExpensesOther Business Expenses
6080MARKETING:Marketing Events & MaterialsExpensesAdvertising/Promotional
6090MARKETING:Digital AdvertisingExpensesAdvertising/Promotional
6095MARKETING:Digital Advertising:Ad ManagementExpensesAdvertising/Promotional
6200GENERAL & ADMINISTRATIVEExpensesOffice/General Administrative Expenses
6201GENERAL & ADMINISTRATIVE:Misc G&A:General & Admin ExpensesExpensesOffice/General Administrative Expenses
6205GENERAL & ADMINISTRATIVE:Misc G&A:Automobile ExpenseExpensesOther Miscellaneous Service Cost
6210GENERAL & ADMINISTRATIVE:Misc G&A:Bank Service ChargesExpensesOther Miscellaneous Service Cost
6213GENERAL & ADMINISTRATIVE:Misc G&A:Business Licenses and TaxesExpensesOther Miscellaneous Service Cost
6214GENERAL & ADMINISTRATIVE:Charitable DonationsExpensesCharitable Contributions
6215GENERAL & ADMINISTRATIVE:Contract LaborExpensesOther Business Expenses
6217GENERAL & ADMINISTRATIVE:Misc G&A:Office IT SubscriptionsExpensesOther Miscellaneous Service Cost
6218GENERAL & ADMINISTRATIVE:Insurance ExpenseExpensesInsurance
6219GENERAL & ADMINISTRATIVE:Life InsuranceExpensesInsurance
6220GENERAL & ADMINISTRATIVE:Misc G&A:Meals and EntertainmentExpensesEntertainment Meals
6221GENERAL & ADMINISTRATIVE:Misc G&A:Office Supplies & EquipmentExpensesOther Miscellaneous Service Cost
6222PERSONNELExpensesPayroll Expenses
6223PERSONNEL:WagesExpensesPayroll Expenses
6224PERSONNEL:BonusesExpensesPayroll Expenses
6226PERSONNEL:Employee Benefits & Admin.:Medical, Dental, VisionExpensesPayroll Expenses
6227PERSONNEL:Employee Benefits & Admin.:401K expenseExpensesPayroll Expenses
6228PERSONNEL:Employee Benefits & Admin.:Payroll TaxesExpensesPayroll Expenses
6229PERSONNEL:Employee Benefits & Admin.:Benefits AdminExpensesPayroll Expenses
6230PERSONNEL:Other Payroll ExpensesExpensesPayroll Expenses
6231PERSONNEL:Officers CompensationExpensesPayroll Expenses
6232PERSONNEL:Employee Benefits & Admin.:Employee IncentivesExpensesPayroll Expenses
6234GENERAL & ADMINISTRATIVE:Professional FeesExpensesLegal & Professional Fees
6236GENERAL & ADMINISTRATIVE:Professional Fees:Legal FeesExpensesLegal & Professional Fees
6237GENERAL & ADMINISTRATIVE:Professional Fees:AccountingExpensesOther Miscellaneous Service Cost
6238GENERAL & ADMINISTRATIVE:Professional Fees:Income Tax FeesExpensesLegal & Professional Fees
6239GENERAL & ADMINISTRATIVE:Professional Fees:Sales Tax FeesExpensesLegal & Professional Fees
6240PERSONNEL:Employee Benefits & Admin.:HR ServicesExpensesOther Miscellaneous Service Cost
6243GENERAL & ADMINISTRATIVE:Product Development MaterialsExpensesOther Business Expenses
6250PERSONNEL:Employee Benefits & Admin.ExpensesOther Business Expenses
6290GENERAL & ADMINISTRATIVE:Misc G&A:GiftsExpensesOther Business Expenses
6300GENERAL & ADMINISTRATIVE:Misc G&A:Franchise Taxes PaidExpensesTaxes Paid
6600GENERAL & ADMINISTRATIVE:Travel ExpenseExpensesTravel
6700GENERAL & ADMINISTRATIVE:Facility ExpenseExpensesRent or Lease of Buildings
6710GENERAL & ADMINISTRATIVE:Facility Expense:Rent ExpenseExpensesRent or Lease of Buildings
6715GENERAL & ADMINISTRATIVE:Facility Expense:Office ExpensesExpensesOffice/General Administrative Expenses
6720GENERAL & ADMINISTRATIVE:Facility Expense:Repairs and MaintenanceExpensesRepair & Maintenance
6730GENERAL & ADMINISTRATIVE:Facility Expense:Janitorial ExpenseExpensesRepair & Maintenance
6740GENERAL & ADMINISTRATIVE:Facility Expense:Other FacilityExpensesRepair & Maintenance
6745GENERAL & ADMINISTRATIVE:Facility Expense:Computer and Internet ExpensesExpensesOffice/General Administrative Expenses
6800GENERAL & ADMINISTRATIVE:Facility Expense:Property TaxExpensesTaxes Paid
6810GENERAL & ADMINISTRATIVE:Facility Expense:Telephone ExpenseExpensesOffice/General Administrative Expenses
6860GENERAL & ADMINISTRATIVE:Facility Expense:UtilitiesExpensesOther Miscellaneous Service Cost
6900GENERAL & ADMINISTRATIVE:Misc G&A:Uncategorized ExpenseExpensesOther Miscellaneous Service Cost
6904GENERAL & ADMINISTRATIVE:RoyaltyExpensesAdvertising/Promotional
6905GENERAL & ADMINISTRATIVE:Misc G&A:PenaltiesExpensesOther Miscellaneous Service Cost
6910GENERAL & ADMINISTRATIVE:Misc G&A:Reconciliation DiscrepanciesExpensesOther Miscellaneous Service Cost
6690Interest IncomeOther IncomeInterest Earned
6920Dividend IncomeOther IncomeDividend Income
6930Gain/Loss on SaleOther IncomeOther Investment Income
6935Purchase DiscountOther IncomeOther Miscellaneous Income
8000Interest ExpenseOther ExpenseOther Miscellaneous Expense
8100Depreciation ExpenseOther ExpenseDepreciation
8200Amortization ExpenseOther ExpenseAmortization

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!

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Get Your Ecommerce Chart of Accounts Template