Account Ranges

The standard chart of accounts that comes with Vantagepoint is designed to meet most firm's accounting needs. The standard chart of accounts includes a set of predefined accounts, grouped together by type within numerical ranges. You can use the standard chart of accounts with its default settings or modify it to meet your firm's needs.

Account Type	Numerical Range	Description
Assets	100.00 - 199.99	Assets are those things of value owned by your firm. Asset accounts include checking and savings, accounts receivable, and fixed asset accounts.
Liabilities	200.00 - 299.99	Liabilities are amounts owed by your firm. Liability accounts include accounts payable, salaries payable, and income taxes payable.
Net Worth	300.00 - 399.99	Net worth (owner's equity) is the total value of your ownership rights to your firm's assets after deducting your firm's total liabilities. Net worth accounts include capital, retained earnings, and current year's profit and loss.
Revenue	400.00 - 499.99	Revenue is the flow of cash into your firm. Revenue accounts include billed and unbilled fees, reimbursable consultant revenue, and reimbursable expense revenue.
Reimbursable Expenses	500.00 - 599.99	Reimbursable expenses are project-related costs incurred by your firm that will be paid by your clients. Reimbursable expenses are associated with revenue producing projects. Reimbursable expense accounts include consultant expense, travel expense, and reproduction expense.
Direct Expenses	600.00 - 699.99	Direct expenses are project-related costs incurred by your firm for which you are not reimbursed by your clients. Direct expenses are associated with revenue producing projects. These expenses may be part of negotiated fees or beyond the scope of the contract. Direct expense accounts include direct labor, consultant expense, and travel expense.
Indirect Expenses	700.00 - 799.99	Indirect expenses are overhead costs incurred by your firm. Indirect expenses are associated with overhead or promotional projects. Indirect expense accounts include indirect labor, employee benefits, and rent.
Other Miscellaneous Revenue and Expenses	800.00 - 999.99	There are no predefined miscellaneous revenue and expenses accounts. Use the accounts in this range for "below the line" revenue and expense, such as rental income.