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Chart of Accounts

The sample Chart of Accounts (COA) included with accounting software is intended as a basic template. Often, law firms strictly adhere to these predefined accounts, which leads to disorganized bookkeeping. Our approach involves developing a tailored COA that effectively serves a law firm’s unique requirements.
 
Provided below is a sample of a customized chart of accounts optimized for a family law practice.

Family Law Sample Chart of Accounts

1000-1999: Assets

  • 1000  Operating Account

  • 1001   Savings Account

  • 1011    Petty Cash

  • 1050   Trust Account - 1

  • 1051    Trust Account - 2

  • 1110    Credit Card - 1

  • 1120    Credit Card - 2

  • 1130    Credit Card - 3

  • 1150    Line of Credit

  • 1610    Accumulated Depreciation

  • 1620    Computer Hardware

  • 1630    Equipment / Furniture

  • 1700    Advanced Client Costs

​

2000-2999: Liabilities​

  • 2300  Client Trust Funds Current 

  • 2310   Client General Retainer (Trust)

  • 2320   Client General Retainer (Operating)

  • 2400   Payroll Liabilities

  • 2405   401k Payable

​

3000-3999: Equity​

  • 3100  Opening Bal Equity

  • 3210   Partner Capital - 1

  • 3220   Partner Capital - 2

  • 3230   Partner Capital - 3

  • 3310   Partner Draw - 1

  • 3320   Partner Draw - 2

  • 3330   Partner Draw - 3

  • 3400   Retained Earnings

  • 3500   Income and Expense Summary

​

4000-4999: Income​

  • 4100    Fee Income    Income

  • 4125    Discounts    Income

  • 4150    Other Income    Income

  • 4160    Interest Income    Income

  • 4200    Reimbursed Client Costs    Income

​

6000-6999: Expense

  • 6000  Amortization Expense 

  • 6010   CLE

  • 6015   Client/Marketing Meals 

  • 6016   Client/Marketing Gifts

  • 6040  Contributions & Sponsorships

  • 6050  Depreciation Expense

  • 6055  Document Storage 

  • 6060  Dues / Fees / Licenses

  • 6070   Equipment Expense

  • 6080   Finance Charge

  • 6090   Firm Meals

  • 6091   Firm Outings

  • 6092   Firm/Staff Gifts

  • 6100   Firm Promotion & Marketing

  • 6110    Furniture / Art / Fixtures

  • 6121    Insurance - Malpractice

  • 6122    Insurance - Liability & Property

  • 6123    Insurance - Key Person

  • 6124    Insurance - Workers Comp

  • 6130    LLC Expenses

  • 6140    Miscellaneous

  • 6150    Office Supplies

  • 6160    Parking & Transportation

  • 6165    Parking - Employee

  • 6170    Postage and Delivery

  • 6180    Processing Fee - LawPay

  • 6190    Processing Fee - Gusto

  • 6200    Professional Services - Accounting

  • 6205    Professional Services - Bookkeeping

  • 6208    Professional Services - Legal

  • 6210    Professional Services - Contract Staff

  • 6215    Professional Services - Collection

  • 6220    Professional Services - IT Support

  • 6225    Professional Services - Staff Recruiting

  • 6230    Professional Services - Training

  • 6250    Reimbursable Client Costs

  • 6255    Non-Reimbursable Client Costs

  • 6260    Rent

  • 6263    Rent-Maintenance

  • 6270    Salary - Net Payroll

  • 6271    Salary - Employee Deductions

  • 6272    Salary - Employer Payroll Tax

  • 6273    Salary - 401k Employee Deductions

  • 6274    Salary - 401k Deduction - Partner 1

  • 6275    Salary - 401k Deduction - Partner 2

  • 6276    Salary - 401k Deduction - Partner 3

  • 6277    Salary - 401k Employer Contributions

  • 6280    Service Charges & Fees

  • 6290    Software Expense

  • 6300    Subscriptions/Books/Media

  • 6305    Taxes - State

  • 6310    Telephone/Internet/Communications

  • 6330    Unrecovered Client Expenses

  • 6340    Website & Email

  • 6345    Online Research

  • 6500    Uncategorized Expense

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