Brown-Minneapolis Tank Chart of Accounts Last Updated: January 9, 2009

Transcription

1 1010 Cash - Bank #1 This is the primary operating account for the business unit Cash - Bank #2 This is the local or secondary account for the business unit Cash-Payroll This is a local account used for disbursing payroll and employee related checks (garnishments) 1040 Cash-Savings A bank account used for savings and no check disbursements Cash Equivalents An account which represents cash to be used in a named transaction but otherwise is not liquid cash Cash-Petty This is an on-site cash box that is replinished when necessary but not less than monthly Accounts Receivable - Trade Normal business customer accounts due Account Receivable-Retention Amount billable at the conclusion of the project that is not currently collectible (due) Accounts Receivable - Employee Amount collectible from employees (not related to a travel advance) Employee Advances Amount advanced to employees for travel expenses 1160 Receivable Short Term Notes Notes receivable outside the normal course of business (non-sales) Interest Receivable Interest charges that has been assessed to collectible balances Reserve for Bad Debt Balance of accounts that should be charged off (debit) or an amount provided for an expected charge-off Inventory - Steel Raw steel plate material on-hand that has not been assigned (charged) to a job Inventory - Other Materials Paint, concrete, bagged sand received materials Inventory - Finished Goods Typically manways or other common parts custom built in the shop and held to be used at a later date Inventory - Scrap Remnant materials (plate) leftover from other jobs recorded based on weight Inventory - Consummables Welding materials (rod, stick, wire), 1250 Inventory - Small Tools Large (bulk) purchases of small tools that are amoritzied over twelve months Cost in Excess of Billings Amounts not billed to customers on jobs that have recognized costs Prepaid Expenses Amounts paid in a period which relate to a future period Prepaid Insurance Amounts paid in advance for insurance Prepaid Taxes Amounts paid for business or sales taxes in advance Prepaid Rent Amount paid in advance for rent (building or equipment) Deposits Amounts paid to a vendor in advance of an event or a security deposit with a vendor Land Typically the purchase price of property Office Equipment & Furniture Acquisition cost of office furniture and non-computer equipment (copier, fax, telephone) 1715 A/D - Office Equipment Accumulated depreciation of office furntiure and equipment Computers & Software Acquisition cost of computer and software A/D - Computers & Software Accumulated depreciation of computer equipment and software Shop Equipment Acquisition cost of shop equipment A/D - Shop Equipment Accumulated depreciation of shop equipment Field Equipment Acquisition cost of field equipment A/D - Field Equipment Accumulated depreciation of field equipment Vehicles Over The Road Acquisition cost of semi-trucks, trailers and related highway vehicles A/D - Vehicles OTR Accumulated depreciation of semi-truck, trailer and related highway vehicles Vehicles - Other Acquisition cost of passenger vehicles and related equipment A/D - Vehicles Other Accumulated depreciation of passenger vehicles and related equipment Leasehold Improvements Acquisition cost of facility improvements A/D - Leasehold Improvements Accumulated depreciation of facility improvements Buildings Acquisition cost of a facility A/D - Buildings Accumulated depreciation of a facility Cash Surrender Value The surrender value of life insurance policies Investments Amount invested in other assets that are not liquid such as other companies, stocks, etc Due From Shareholders/Owners Amount due from shareholders or owners of the company Long Term Notes Receivable Amount due contractually for a time period greater than twelve months Patents, Trademarks, License Amount invested in intangible assets such as patents, trademarks, business licenses, or development costs A/D - Patents, Trademarks Accumulated depreciation of intangible assets Organization Costs Costs associated with creating the business organization Accumulated Amortiz-Org. Costs Accumulated amoritization of costs associated with creating the business organization Goodwill/Non-Compete Value of non-compete agreement or remaining acquisition costs Amort-Goodwill/Non-compete Accumulated amortization 1900 InterCompany Transactions Transactions incurred by or passed through Corporate to this entity Accounts Payable-Trade Amounts due to vendors except for retention amounts Accounts Payable-Retention Amount of retainage due to vendors Accrued Payables Payable amounts accrued by journal entry for anticpated vouchers (annual audit fees, quarterly bank fees, etc) Accrued Insurance The cost of insurance accrued waiting for an invoice from the insurance agent(s) Accrued Job Costs Value of inventory receipts that have not been matched to an invoice from a vendor Accrued Interest Interest charges accrued but not yet paid or deducted from bank account Sales Tax Payable Sales taxes charged to customers waiting for disbursement to a taxing authority Accrued Business Taxes Accrued business taxes anticipated to be paid in the future (less than 12 months) Accrued Fuel Tax Payable Accrued taxes to be paid for fuel tax purposes Accrued Payroll Payroll costs accrued to be wired to Aplus Benefits, Inc Accrued Bonus Accrued expense for anticipated bonuses. with descriptions xls Page 1 of 5

2 2120 Accrued Holiday Accrued expense for anticipated holiday pay Accrued Vacations Accrued epxense for anticipated non-union vacation pay Accrued Boilermakers Vacation Accrued expense for union employee vacation pay Accrued FUTA & SUTA Accrued federal and state unemployment tax antipated to be paid in the next reporting period Accrued W/C Accrued worker's comp insurance charges anticipated to be paid in a future period Accrued Employee Benefits/401k Accured union employee medical, pension or 401k costs for employees anticipated to be paid Withheld FICA/Medicare Withheld amounts from union paychecks to be remitted by the company in the next reporting period Withheld - Federal income tax Withheld amounts from union paychecks to be remitted by the company in the next reporting period Withheld - State income tax Withheld amounts from union paychecks to be remitted by the company in the next reporting period Withheld - Garnishments Withheld amounts from union paychecks to be remitted by the company in the next reporting period Withheld Flex Plan Withheld amounts from union paychecks to be remitted by the company in the next reporting period Line of Credit Debt Variable bank loan which funds operating cash account when necessary Current Maturity of Long Term Amount due in the next twelve months on long term debt Current Maturity of capital le Amount due in the next twelve months on capital leases Billings in Excess of Cost Amount of billings to customers in excess of the job costs to date Customer Deposits Amount received from customers in advance on open jobs Notes Payable Long term note payable Notes Payable-Banks Long term note payable to a commercial bank Notes Payable - Other Long term note payable to a commercial bank or individual Notes Payable - Equip/Vehicles Long term note payable on equipment or vechicles Capital Leases Payable Capital leases for equipment or vehicles Shareholder/Member Loans Amount loaned from owners with the intention of being repaid Current Portion of Bank Debt Amount due in the next twelve months and this account reduces the total long term debt amount InterCompany Transactions Amount due from BMT-Corporate Common Stock Book value of company stock Paid-in-capital Capital account balances of the owners comprised of prior year earnings Member Contributions Amount contributed by the owners Owner Distributions Amount distributed to the owners Member Equity/Retained Earning Undistributed earnings from prior years Sales - Shop Aboveground Region generated sales for tanks built at the shop and shipped to the owner including knock-down tanks Sales - Shop Underground Region generated sales for tanks built at the shop and shipped to the owner including knock-down tanks Sales - Standard Shop Products Corporate sales division generated sales for standard 4140 Sales - Structural/Heavy Fab Casing 4150 Sales - Miscellaneous Less than $500 typically walk-in customers handled at a shop Sales - Field Field foundation, erection or coating services provided at the owner's site Sales - Related Parties All sales to any related company (BMT or TSMF) Sales Discounts and Allowances Any sales discount granted to a customer at the time of billing (does not include reducitons) Unbilled Income Change The net change of the work in progress Materials - Steel Direct Costs: Steel plates, parts or accessories for a job Materials - Paint Direct Costs: Paint, primer or other coating applied to job Materials - Concrete Direct Costs: Concrete and associated materials typically used in the foundation work Materials - Other Direct Costs: Other materials not listed above but not including consumable products Welding Consumables Direct Costs: Welding rod, stick, wire and bottled gases used for welding 5120 Consumables (General) Direct Costs: Other consumables typical to complete work on a job Safety Supplies Direct Costs: Safety supplies associated to a job Fuel - Equipment Direct Costs: Fuel used on a job for equipment Supplies Direct Costs: General supplies that may be used on a job Sandblast Supplies Direct Costs: Supplies that are specifically associated with sandblasting activities CNC Consumables Direct Costs: Supplies specifically used on a CNC associated with a job Small Tools Direct Costs: Small tools purchased and used up (not capitalized) on a job Freight Direct Costs: Freight charges incurred on having materials delivered to a job or shop Equipment Rental Direct Costs: Equipment rental expense incurred on a job Subcontractors Direct Costs: Departmentalized subcontractor costs (foundation, erection, painting) 5320 Subs - Other Direct Costs: Any other kind of subcontractor 5330 Subs - Related Parties Direct Costs: All expenses for a job incurred from a related company (BMT or TSMF) 5350 Fees, licenses, bonding Direct Costs: Fees incurred for permits, licenses, bonding that can be attributed to a job Subs - Freight Direct Costs: Delivery charges incurred on a job, typically delivering the customer's product Subs - Security Direct Costs: Security fees incurred on a job Penalties & Fees Direct Costs: Late Day charges for late delivery or other fees charged to a job Overspray Direct Costs: Costs incurred to mitigate overspray damage that occurs at a job site (not at a shop) Use Tax Sales or Use tax charged on materials or purchases used on jobs Direct Labor Wages Hourly wages for labor used on jobs Direct Labor Salaries Salaries for labor used on jobs Variable Compensation Bonuses paid on jobs with descriptions xls Page 2 of 5

3 5425 Variable Comp - Safety & Atten Weekly bonuses paid for safety and attendance Travel Pay Travel pay is mileage and hourly Subsistence Lodging and meal expense for employees used on jobs Employee Vehicle Truck allowances paid to employees working on direct jobs Employee Fuel Fuel allowances paid to employees working on direct jobs Employee Telephone Cell phone allowances paid to employees working on direct jobs Employee Allowance Personal Protective Equipment allowances paid to employees working on direct jobs Payroll Taxes Corporate payroll taxes paid on wages and salaries for employees working on direct jobs W/C Insurance & Fees Worker's Compensation insurance (accrued) for employee wages working on direct jobs Overhead Allocated to Jobs Overhead (indirect costs) allocated to jobs based on direct labor and salaries Welding Consumables Grinding discs, grinding wheels, soap stone, welding rod, wire and stick Consumables (General) General supplies which are consumed in the normal course of business Safety Supplies Cost of safety supplies such as safety googles, hardhats, first aid supplies Supplies General shop or paint supplies 5550 Sandblast Supplies Sandblast materials such as grit, 5560 CNC Consumables Small parts, oil or materials consumed by the machinery Small Tools Small general tools of low cost value (less than $100) Maintenance Supplies Supplies for clean-up and maintenance such as rags, chemicals, soaps and paper products Freight-In Shipping costs for products/items delivered to the company Equipment Rental The cost of equipment rented in a shop Inventory Variance Difference between inventory books and physical inventory count Indirect Labor Expenses Hourly wages for labor used on jobs Salaries Salaries for labor used on jobs Corporate Accounting Services Charges directly identified by Corporate Accounting related to a specific business unit Indirect Temp/Contractor Labor Temporary or contracted labor used for administration (indirect) assignments Capitalized Labor Projects Projects that use indirect labor but are capitalized and amortized over a period of time Variable Compensation Weekly bonuses paid for safety and attendance Variable Comp - Safety & Atten Weekly and quarterly bonuses paid for perfect attendance and no safety incidents Travel Pay Travel pay is mileage and hourly Fuel - Equipment The cost of fuel for equipment in a shop 5640 Subsistence Truck allowances paid to employees working in administration, accounting, supervision or management/ Overspray A fee paid to employees for the maintenance of their personal property which may be subject to overspray at the job site Employee Vehicle An allowance paid to employees for provision for the use of their personal vehicle for business use Employee Fuel Fuel allowances paid to employees working in administration, accounting, or management Employee Telephone Cell phone allowances paid to employees working in administration, accounting, or management Employee Allowance Personal Protective Equipment allowances paid to employees working in administration, accounting, or management Payroll Taxes Corporate payroll taxes paid on wages and salaries for employees working in administration, accounting, or management W/C Insurance & Fees Worker's Compensation insurance (accrued) for employee wages working in administration, accounting, or management Vacation, Holiday, Jury, Etc Paid time off for vacation time, holidays, jury duty, or bereavement Health Insurance Company's contribution for medical, dental or vision insurance for all employees Davis Bacon Trust Company's contribution for retirement on specifically identified jobs for only those employees who qualify and are participating K Contribution Company's matching contribution for employees contributing to plan Employee Benefits General account for any other expense paid due to the employment of an individual Admin - Bank Fees Bank charges Admin - Cash Discounts(Taken) Discounts taken by the company on materials or services purchased Admin - Licenses, Misc. General account used for the renewal and application fees for business licenses or other charges Admin - Business Operating Tax Business operating taxes 6045 Admin - Property Tax Property taxes (accrued monthly but typically paid annually or semi-monthly) Admin - Contributions Charitable contributions made to qualifying organizations/ 6060 Admin - Dues Annual fees paid for organization memberships or annual credit card fees Admin - Fines And Penalties Penalty fees typically paid on late filings Employee Concerns Expenses related to employees (flowers, employee celebrations, gifts, etc) Empl - Physical/Drug Testing Pre-employment physical and drug testing and random drug testing Empl - PEO Fees Professional Employee Organization processing fees (A-Plus Benefits) Empl - Training & Qualificatio Training seminars, classes or certification costs Empl-Company Required Meetings Costs related to company meetings Empl - Search and Advertising Fees for recuruiting services and newspaper advertisements 6160 Empl - Laundry Expense Laundry expense paid for employees Environmental Expense or fees related to environmental issues or an environmental study. with descriptions xls Page 3 of 5

4 6310 Equipment - Office Equipment Expenditures for small equipment for the office not typically capitalized (calculators, telephones, etc) 6320 Equipment - Computers & Softwa Small expenditures for computers and software that typically won't be capitalized Equipment - Shop Equipment Low dollar expenditures for equipment used in the shop (extension cords, screwdriver, hammer, etc) Equipment - Field Equipment Low dollar expenditures for equipment used in the field (extension cords, screwdriver, hammer, etc) Equipment - Vehicles OTR Low dollar expenditures for equipment used on over the road vehicles Equipment - Vehicles Other Low dollar expenditures for equipment used on pickup trucks and other vehicles (not over the road Equipment - Leasehold Improvem Low dollar expenditures for equipment purchased to make a leasehold improvement 6380 Equipment - Buildings Low dollar expenditures for equipment used for the building Amortization Expense Amortization of intangibles (patents, organization costs, etc) Depreciation - Office Deprecia Amortization of the cost of the office equipment which is typically streched over a five year life Depreciation - Computers & Sof Amortization of the cost of the computer and software which is typically streched over a three year life Depreciation - Shop Equipment Amortization of the cost of the shop equipment which is typically streched over a five year life Depreciation - Field Equipment Amortization of the cost of the field equipment which is typically streched over a five year life Depreciation - Vehicles OTR Amortization of the cost of the over the road vehichles which is typically streched over a five year life Depreciation - Vehicles Other Amortization of the cost of vehicles which is typically streched over a five year life Depreciation - Leasehold Impro Amortization of the cost of building improvements which is typically streched over a forty year life Depreciation - Buildings Amortization of the cost of the building(s) which is typically streched over a thirty-nine year life Repair - Office Repair Repair of office equipment Repair - Computers & Software Repair of computer and network equipment Repair - Shop Equipment Repair costs of shop equipment Repair - Field Equipment Repair costs of field equipment 6550 Repairs - Vehicles Repair costs of vehicles 6580 Repair - Buildings Repair costs related to making minor improvments to the building (which can not be capitalized) Rental - Office Rental Rental expense for office equipment Rental - Computers & Software Rental expense for computers and software Rental - Shop Equipment Rental expense for shop equipment 6640 Rental - Field Equipment Rental expense for field equipment not associated on a job Rental - Vehicles OTR Rental expense for over the road trucks (not used on jobs) 6660 Rental - Vehicles Other Rental expense for vehicles not used on jobs Rental - Buildings Rent expense for building or land facilities Fuel & Oil - Shop Equipment Fuel (gasoline or diesel) and oil used for the maintenance of shop equipment Fuel & Oil Field Equipment Fuel (gasoline or diesel) and oil used for the maintenance of field equipment Fuel & Oil Vehicles OTR Fuel (gasoline or diesel) and oil used for the maintenance of over the road vehicles Fuel & Oil Vehicles Other Fuel (gasoline or diesel) and oil used for the maintenance of other vehicles Non-Fuel Gas Bottled gas used at shop facility (oxygen, nitrogen, acetylne, weld mix 8-blended gas, agon, etc) Insurance-Const/Contractors Insurance policy fees for construction and contractors Insurance-Auto,Crime, Other Insurance policy fees for automobiles, crime and other insurance policies which do not have another specific account Insurance - Life Insurance policy fees for keyman life insurance Insurance-General Liab/Umbrell Insurance policy fees for general liability and umbrella Insurance - Life & Disability Insurance policy fees for life and disability policies Insurance - Property Insurance policy fees for property costs Insurance - STICO Insurance policy fees from the Steel Tank Institute Company Insurance-Errors & Omissions Insurance policy fees for errors and omission policy Insurance - Package Insurance policy fees for package insurance Professional - Accounting Professional (CPA) fees recognized when received in addition to a annual accrual for year-end review & tax preparation 7020 Professional - Legal Legal fees for lawyers Professional - Other Other professional fees that are not accountants or lawyers Office Supplies Typical office supplies which are typically consumed within thirty days. (paper, pens, folders, etc) 7110 Office - Security Fees for security monitoring service Office - Janitorial Monthly fees for office facility cleaning Comm - Postage & Shipping Communication expense for postage and shipping charges Safety Expenses Expenses for safety items which can not be capitalized (safety supplies, signs, etc) Safety - Accident Costs Costs related to a safety incident PR - Commisions Public Relations commission paid to an independent party for a sales lead PR - Trade Shows Public Relation costs related to trade shows and a publicly attended display PR - Advertising & Promotion Public Relation costs for advertising and promotion PR - Entertainment Public Relation costs typically for meals with employees and guests for business purpose PR - Meals Public Relation costs for meals for employees PR - Publications Public Relation costs for publications (magazines or books) or reprints PR - Plans / Specifications Fees for plans and specifications which may or may not be refunded in the future Travel Expenses for airfare, rental cars and 7520 Lodging Expenses for hotel, meeting room rental with descriptions xls Page 4 of 5

5 7550 Meals & Entertainment Expenses for employee and guest meals, food for company sponsored meeting or events 7600 Utilities-Water Building facility water utility charges Utilities-Electricity Building facility electrical utility charges Utilities-Garbage Building facility garbage disposal charges Utilities-Gas Building facility gas utility charges typically for heating expense Comm - Telephone - Land Building facility telephone (local and long-distance) service Comm - Telephone - Cell & page Cellular (mobile) telephone and pager service fees Comm - Internet Building facility internet access service Other Expenses Out of the ordinary course of business expense and typically an event for which an explanation is necessary Other - Bad Debt Expense Non-collectible customer charges from prior year(s) Other - Warranty Expenses The cost of all non-labor expenses related to the repair or maintenance of an in-service product sold in a prior year (closed job) Overhead Allocation Offset account for indirect charges that have been applied to active jobs (Gain)/Loss Sale of Asset Book value (GAAP) gain or loss calculated on the disposal of an asset (loss, stolen, transferred, or sold) Administration Allocation Corporate overhead charges allocated to a business unit Auto Income Fee charged to an indivdiual for the use of a company vehicle for personal use Interest Expense Interest paid to banking institutions and service fees paid to vendors due to late payment Interest Income Interest earned from banking institutions or paid by customers due to late payment Misc Income Receipt for 8500 Corporate Taxes Account reserved for the expense of business income tax. with descriptions xls Page 5 of 5