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The BAS chart of accounts
The BAS chart of accounts is a list of accounts that companies use in their accounting, to get a better overview of their finances. It is a standardised list which was introduced in the 1970s and is used as the basis for a company's accounting, end-of-year reporting and tax return. Most companies use accounts from four main groups: assets, debts, income and costs.
All accounts in the BAS chart of accounts consist of four digits, and the first digit shows which type of account (account group) it belongs to.
Account group 1
This account group represents "Assets" and includes all accounts regarding cash, bank and accounts receivable. Account group 1 is used in combination with account group 2 to show how the company is doing. Simply put, you could say that they show what the company owns and how you got the money to acquire it.
The report that shows a company's position is called balance sheet and the accounts in account group 1 and 2 are called balance accounts.
Account group 2
This account group represents "Debt and own funds" and is used in combination with account group 1 to show how the company is doing. Simply put, you could say that they show what the company owns and how you got the money to acquire it.
The report that shows a company's position is called balance sheet and the accounts in account group 1 and 2 are called balance accounts.
Account group 3
This account group represents "Income" and includes all accounts regarding income based on for example sales. Account group 3 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
Account group 4
This account group represents "Costs etc" and includes all accounts regarding costs related to for example the purchase of material. Account group 4 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
Account group 5
This account group represents "Costs etc" and includes all accounts regarding costs related to for example premises, transportation and advertisement. Account group 5 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
Account group 6
This account group represents "Costs etc" and includes all accounts regarding other sales costs. Account group 6 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
Account group 7
This account group represents "Costs etc" and includes all accounts regarding staff costs. Account group 7 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
Account group 8
This account group represents "Costs etc" and includes all accounts regarding financial postings. Account group 8 is used to get an overview of the company's results. When the income decreases due to costs, you find out how much profit or loss the company has made throughout the year.
The report that shows the company's results is called the profit and loss report, and the accounts in account group 3-8 are called profit and loss accounts.
For more detailed information, read the article BAS-kontoplan - kontoplanen som är S K I T-lätt att förstå!
Related topics
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Chart of accounts |
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Importing or exporting chart of accounts |
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