Chart of Accounts Template for Canadian Sole Proprietors | HelloBooks A free starter chart of accounts for Canadian sole proprietors, with GST/HST payable and input tax credit accounts. View it online or download it as CSV.
A starter list of accounts for a Canadian sole proprietor, including GST/HST payable and input tax credit accounts. Download it as a CSV to use in a spreadsheet or to import.
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| Code | Account | Type |
|---|---|---|
| 1000 | Business chequing account | Asset |
| 1010 | Business savings account | Asset |
| 1100 | Accounts receivable | Asset |
| 1200 | GST/HST input tax credits receivable | Asset |
| 1500 | Equipment and computers | Asset |
| 1510 | Vehicle | Asset |
| 2000 | Accounts payable | Liability |
| 2100 | GST/HST payable | Liability |
| 2110 | PST/RST payable (BC, SK, MB) | Liability |
| 2200 | Business credit card | Liability |
| 3000 | Owner's capital | Equity |
| 3100 | Owner's drawings | Equity |
| 4000 | Sales | Income |
| 4100 | Service revenue | Income |
| 5000 | Cost of goods sold | Expense |
| 6000 | Advertising | Expense |
| 6100 | Bank charges | Expense |
| 6200 | Business licences and memberships | Expense |
| 6300 | Insurance | Expense |
| 6400 | Meals and entertainment | Expense |
| 6500 | Motor vehicle expenses | Expense |
| 6600 | Office expenses and supplies | Expense |
| 6700 | Professional fees | Expense |
| 6800 | Rent | Expense |
| 6900 | Software and subscriptions | Expense |
| 7000 | Telephone and internet | Expense |
| 7100 | Travel | Expense |
| 7200 | Business-use-of-home expenses | Expense |
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HelloBooks prepares your GST/HST figures for you to file. See free accounting software Canada.
Keep the list short and add accounts only when you need to track something separately. Split sales tax into its own payable and receivable accounts so your GST/HST return is easy to prepare.
If you are in BC, Saskatchewan or Manitoba, keep the PST/RST payable account; elsewhere you can delete it. Ask your accountant how your expense accounts map to your tax return.
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