What’s a Restaurant Chart of Accounts (COA) ?
A chart of accounts (COA) is the financial accounts in the general ledger of a company. In short, it is an organizational tool that provides a digestible breakdown of all the financial transactions that a company conducted during a specific accounting period, broken down into subcategories.
Suggest have at least 7 categories in your restaurant chart of accounts ;
Assets (1000 – 1999)
Liabilities (2000 – 2999)
Equity (3000 – 3999)
Income or Revenue (4000 – 4999)
Cost of Goods Sold : “COGS” (5000 – 5999)
Expenses (6000 – 7999)
Other Income (8000 – 8999)
What is Cost of Goods Sold (COGS)?
COGS is the total cost involved in the production and delivery of a product. For a restaurant, it is the summation of all it costs to make and deliver your food.
From purchasing raw food materials to all the cooking and post-cooking expenses, you need to know the exact cost of producing a menu item. Your gross income less all these expenses gives you your net profit.
COGS is determined with the following equation:
COGS = (Opening Inventory + Purchased Inventory + Other direct expenses) – Closing Inventory.
- Opening inventory: This is the monetary value of the inventory you have leftover from the previous period (day, week, month or year).
- Purchased inventory: This is the monetary value of the inventory purchases you make for the upcoming time period.
- Other direct expenses: such as cooking gas, direct labor, etc.
- Closing inventory: Once you get to the end of your time period, you calculate the monetary value of the inventory you have leftover.
Restaurant Sample Chart of Accounts.
| Account Number | Account | Account Type |
| 1000 | Cash On Hand | Current Asset |
| 1010 | Checking Account | Current Asset |
| 1020 | Savings Account | Current Asset |
| 1100 | Accounts Receivable | Current Asset |
| 1200 | Inventory: Wine | Current Asset |
| 1210 | Inventory: Beer | Current Asset |
| 1220 | Inventory: Non-Alcoholic | Current Asset |
| 1230 | Inventory: Food | Current Asset |
| 1300 | Prepaid Expenses | Current Asset |
| 1400 | Fixed Asset Tech (Computers, POS systems) | Fixed Asset |
| 1410 | Fixed Asset Furniture & Equipment | Fixed Asset |
| 1500 | Security Deposits | Noncurrent asset |
| 2000 | Accounts Payable (A/P) | Liability |
| 2110 | Credit Card 1 | Liability |
| 2120 | Credit Card 2 | Liability |
| 2210 | Payroll Clearing Account | Liability |
| 2220 | Sales Tax | Liability |
| 2230 | Tips Payable | Liability |
| 2300 | Outstanding Gift Cards | Liability |
| 3000 | Capital Contribution | Equity |
| 3010 | Capital Contribution: Member 1 | Equity |
| 3020 | Capital Contribution: Member 2 | Equity |
| 3030 | Draw Account: Member 1 | Equity |
| 3040 | Draw Account: Member 2 | Equity |
| 3300 | Retained Earnings | Equity |
| 4100 | Food Sales | Cost |
| 4110 | Food Sales: Breakfast | Revenue |
| 4120 | Food Sales: Lunch | Revenue |
| 4130 | Food Sales: Dinner | Revenue |
| 4140 | Food Sales: Discounts | Revenue |
| 4150 | Food Sales: Comps | Revenue |
| 4200 | Beverage Sales | Revenue |
| 4210 | Beverage Sales: Wine | Revenue |
| 4220 | Beverage Sales: Beer | Revenue |
| 4230 | Beverage Sales: Liquor | Revenue |
| 4240 | Beverage Sales: Non-Alcoholic | Revenue |
| 4250 | Beverage Sales :Beverage Comps | Revenue |
| 4260 | Beverage Sales: Beverage Discounts | Revenue |
| 4300 | Merchandise Sales | Revenue |
| 4400 | Catering & Contracts | Revenue |
| 5100 | Food Cost | COGS |
| 5110 | Food Cost: Dairy Cost | COGS |
| 5120 | Food Cost: Produce | COGS |
| 5130 | Food Cost: Meat | COGS |
| 5140 | Food Cost: Seafood | COGS |
| 5200 | Beverage Cost | COGS |
| 5210 | Beverage Cost: Wine | COGS |
| 5220 | Beverage Cost: Beer | COGS |
| 5230 | Beverage Cost: Liquor | COGS |
| 5240 | Beverage Cost: Non-Alcoholic | COGS |
| 6000 | Payroll Expenses | Expenses |
| 6100 | Operating and Overhead Expenses | Expenses |
| 6110 | Glassware, Flatware | Expenses |
| 6120 | Kitchen Equipment | Expenses |
| 6130 | Bar Equipment | Expenses |
| 6140 | Linen and Linen Services | Expenses |
| 6200 | Cleaning Services | Expenses |
| 6300 | Marketing | Expenses |
| 6400 | Software Subscription Fees | Expenses |
| 6500 | Communications (Internet, Phone) | Expenses |
| 7000 | Other Expenses | Other |
| 7100 | Administrative | Other |
| 7200 | Legal | Other |
| 7300 | Facilities: Pest Control | Other |
| 7310 | Facilities: Maintenance | Other |
| 7400 | Equipment Rental | Other |
| 8000 | Other Income | Other |
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