Fastbooks

Template

Construction & Contracting Chart of Accounts

A comprehensive accounting structure tailored for construction & contracting businesses

Why Use This Template?

A well-structured Chart of Accounts is essential for accurate financial tracking and reporting in the construction & contracting sector. This template includes industry-specific accounts and categories designed to match your business operations.

How to Use This Template

  1. Review the account structure below
  2. Download the template as a CSV
  3. Customize account codes and names as needed
  4. Import into your accounting software

Chart of Accounts

Account Code Account Name Category Type Description
1101 Cash Asset Current Asset Physical cash and bank accounts
1102 Accounts Receivable Asset Current Asset Amounts owed by clients for completed projects or services
1103 Construction Materials Inventory Asset Current Asset Raw materials and supplies for construction projects
1201 Construction Equipment Asset Fixed Asset Cost of construction equipment and machinery
1202 Office Equipment Asset Fixed Asset Office furniture, computers, and related equipment
1401 Prepaid Insurance Asset Prepayment Insurance premiums paid in advance
1402 Prepaid Rent Asset Prepayment Rental payments made in advance for office or equipment spaces
2101 Accounts Payable Liability Current Liability Money owed to suppliers and subcontractors
2102 Taxes Payable Liability Current Liability Taxes owed to government authorities
2103 Deferred Revenue Liability Current Liability Payments received in advance for construction contracts
2201 Equipment Loan Payable Liability Non-Current Liability Long-term loans for purchasing construction equipment
3101 Owner's Equity Equity Equity Initial and additional investments by the business owner
3102 Retained Earnings Equity Equity Cumulative profits retained in the business
4101 Depreciation Expense Expense Depreciation Allocation of costs for construction equipment and machinery over time
4201 Direct Labor Costs Expense Direct Costs Wages paid to construction workers directly involved in projects
4202 Materials Costs Expense Direct Costs Costs of raw materials and supplies used in construction projects
4203 Subcontractor Costs Expense Direct Costs Payments made to subcontractors for project-specific tasks
4301 Office Rent Expense Overhead Cost of office space rental
4302 Utilities Expense Expense Overhead Electricity, water, and other utilities for office and construction sites
4303 Administrative Salaries Expense Overhead Salaries of administrative and support staff
4304 Equipment Maintenance Expense Overhead Costs for maintaining construction equipment
5101 Construction Revenue Revenue Revenue Income from construction projects
5102 Contract Revenue Revenue Revenue Revenue from long-term construction contracts