Comments on: Standard Chart of Accounts for Machine Shops?

Question: Standard Chart of Accounts for Machine Shops?

randex8 — Thu, 02 Nov 2006 17:37:10 -0800

Is there a "standardized" chart of accounts setup that is widely used among machine shops/small manufacturers (USA)? Working with other industries in the past (veterinary and restaurants), I have found that many choose to use a standard industry-specific chart of accounts – often established by a national industry association, etc. I have googled, etc. but have not found anything worthwhile for machine shops/small manufacturers... Any accountants or shop owners out there?

By: Iron Rat

Iron Rat — Thu, 02 Nov 2006 18:00:10 -0800

I run my own machine shop and all I have is a simplified monthly bookkeeping book and a set of invoice and purchase order booklets that I got at an office supply store. It works good for me because I only have three customers. I realize this is probably not what you are looking for but it is all I use.

By: alexmikayla

alexmikayla — Thu, 02 Nov 2006 18:01:20 -0800

I work at a small machine shop and the major accounts we use:

Income:
Sales
Misc Income

Cost of Goods Sold:
Materials
Direct Labor
Indirect Labor
General Fringe
Expendable Tooling

Expenses:
Salary
Maintenance
Utilities
Telephone

There are others but these are the main ones.