1 Charts of Accounts
1.2 Optional - General Ledger Accounts
1.2.10 The specific account numbers contained here are not prescribed, with an exception for selected liabilities accounts which are required to be reported on the Schedule of Liabilities (Schedule 09). Use of general ledger accounts in cash basis governments is optional. This general ledger has been carefully designed to meet several needs, generally the highest need being an accounting systems requirement for a full chart of accounts.
1.2.20 First, the accounts provide for identification of assets, deferred outflows, liabilities, deferred inflows and fund balance/net position (beginning and ending cash and investment balances for cash governments) that any local government fund might acquire. Throughout the general ledger, the fourth or fifth and subsequent digits have been left for local governments to use in establishing more detailed breakdowns where needed.
1.2.30 Second, the general ledger has been designed to permit logical summarization of the detailed accounts at various levels, such as rolling up cash and investment totals separately from liability totals.
1.2.40 Third, the comprehensiveness of the general ledger combined with the uniform summarization discussed above is designed to make the preparation balance sheets a simple matter of extracting the balances at the same level for all the funds of a government. The headings on the attached chart identify which digits to sort or summarize by for reporting purposes. The presentation of a balance sheet is structured in similar manner as the general ledger accounts as shown in the attached chart.
1.2.50 The following excel file provides the list of optional general ledger accounts. The “GL Accounts” tab provides account titles and their corresponding account number. The “GL Accts w Descriptions” tab provides account titles and their corresponding account number along with account descriptions.
Download the excel workbook here: General Ledger Accounts