Accounting Chart of Accounts: English and Spanish Account Names

Main Accounts Classification with Spanish Names

Spanish

English

Assets:

Current assets:

Cash

Bank accounts

Temporary investments

Accounts receivable (Clients)

Accounts receivable (Other debtors)

Notes receivable (< 1 year)

Supplies

Merchandise inventory

Prepaid rent (< 1 year)

Prepaid insurance (< 1 year)

Advance payment to suppliers (< 1 year)

Fixed assets:

Land

Buildings

Accumulated depreciation on buildings

Machinery and equipment

Accumulated depreciation on machinery and equipment

Transport equipment (or: trucks)

Accumulated depreciation on transport equipment

Communication equipment

Accumulated depreciation on communication equipment

Computer equipment

Accumulated depreciation on computer equipment

Office furniture and equipment

Accumulated depreciation on office equipment

Other assets:

Prepaid rent (> 1 year)

Prepaid insurance (> 1 year)

Notes receivable (> 1 year)

Advance payment to suppliers (> 1 year)*

Intangible assets:

Organization costs

Accumulated amortization on organization costs

Patent

Accumulated amortization on patent

Trademark

Copyright

Accumulated amortization on copyright

Franchise

Liabilities:

Short-term liabilities:

Accounts payable (Suppliers)

Accounts payable (Creditors)

Dividends payable

Salaries payable

Rent payable

Interest payable

Taxes payable

Unearned fees

Notes payable (< 1 year)

Unearned rent

Bank loan (< 1 year)

Long-term liabilities:

Notes payable (> 1 year)

Bonds

Bank loan (> 1 year)

Mortgage

Pension fund

Owners' Equity:

Capital stock

Preferred stock

Premium on stock

Retained earnings

Other comprehensive income (OCI)

Revenues:

Main activities

Sales: Net Sales = Sales – Sales returns – Sales discounts

Fees earned

Financial revenues:

Interest revenue

Other revenues:

Gain on sale of assets

Rent revenue / received

Dividends revenue / received

Government decision or legal suit (in favour)

Lottery prize revenue / received

Expenses:

Main activities

Cost of goods sold

Operational expenses:

a) Sales expenses

Sellers commissions

Advertising

Promotion articles

Sales freights

b) Administrative expenses

Salaries expense

Rent expense

Utilities (water, electricity, gas, telephone)

Insurance expense

Maintenance costs

Depreciation expense on building

Depreciation on machinery and equipment

Amortization on organization costs

Property tax ***

PTU (Profit sharing paid to workers)

*** Because it is not related to profits

Financial expenses:

Interest expense

Bank commissions / bank charges

Loss on money exchange

Result on monetary position

Other expenses:

Loss on sale of assets

Loss caused by natural disaster****

Government decision or legal suit (against)

**** Examples: flood, fire, tornado

Taxes:

Income taxes (ISR)