Chart of accounts and account description

Diocese of Tucson: PARISH ACCOUNTING MANUAL Chart of accounts and account description The Chart of Accounts (COA) is a list of the general ledger acc...
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Diocese of Tucson: PARISH ACCOUNTING MANUAL

Chart of accounts and account description The Chart of Accounts (COA) is a list of the general ledger accounts used to record and track all parish financial transactions. The Diocese of Tucson has developed a uniform Chart of Accounts for eventual mandatory use by all parishes and parish schools. This list covers the main financial accounts, with gaps provided in the numbering for accounts specific to parishes or schools. The COA structure uses 6 digits. The first digit indicates the general type of account: 1xxxxx

2xxxxx

3xxxxx 4xxxxx

5xxxxx

Assets: Assets are things owned by the parish, including checking and savings accounts, land and buildings, receivables, deposits, inventories, and other things. These accounts normally have debit balances. Liabilities: Liabilities are what the parish owes: payroll taxes payable, long-term loans or other notes payable, amounts owed to vendors, assessments owed to the Diocese of Tucson, special collections payable, or any kind of debt. These accounts normally have credit balances. Net Assets: Basically, net assets are the difference between what the parish owns (assets) and what it owes (liabilities). These accounts normally have credit balances. Revenues: All funds received for the benefit of the parish. Revenues include contributions, grants, subsidies, bequests, fees, fundraising income, school tuition, interest income, etc. These accounts normally have credit balances. Expenses: All funds disbursed for parish operations. Expenses include wages, taxes, benefits, stipends, supplies, utilities and almost anything paid to a vendor or other person, including diocesan assessments. These accounts normally have debit balances.

The second digit is used to indicate the department: x0xxxx x1xxxx x2xxxx x3xxxx x4xxxx x5xxxx

Used for all balance sheet accounts: Assets (10xxxx), Liabilities (20xxxx), and Net Assets (30xxxx) Community of Faith (41xxxx for revenue; 51xxxx for expenses) Parishes may choose to report all income and expenses, except for school activity, in this department. Liturgy (optional) Religious Education or Proclamation (optional) Schools (44xxxx for revenue; 54xxxx for expenses) Service to Others or Outreach (optional)

The third and fourth digits are used to denote functional categories. Functional categories are groups of accounts that have something in common--for example, bank accounts or grants and bequests or employee compensation. The fifth and sixth digits refer to specific accounts. You will notice that many of the individual accounts end in 0 or 5. For large parishes that may need to be even more specific, this allows space in the numbering system to add accounts. For reporting purposes, these balances should be added together and reported under the root account name and number.

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Diocese of Tucson: PARISH ACCOUNTING MANUAL LISTING OF ACCOUNTS - ASSETS

1001xx 100110 100120 100130 100190

CHECKING AND SAVINGS ACCOUNTS CASH IN BANKS General Checking account Bingo checking account Cafeteria checking account Petty cash

100500

Cash clearing account

1012xx 101210 101220

PARISH POOLED INVESTMENT TRUST FUNDS (PPIT) Operation Building fund/ capital improvements

1020xx 102010 102020 102030 102040 102049 102050 102059

RECEIVABLES ACCOUNTS RECEIVABLE Individuals Other Parishes / Schools Payroll deductions (loans, dental or health insurance) Building Fund Pledges Allowance for Doubtful Pledges (contra) School Tuition and Fees Allowance for Doubtful Tuition and Fees (contra)

104900

ACCRUED INTEREST RECEIVABLE

106900

INVESTMENTS, PREPAIDS AND OTHER ASSETS INVESTMENTS (stocks, bonds, etc. held by Mission Management)

1072xx 107210 107260

ENDOWMENT & QUASI-ENDOWMENT FUNDS Diocese of Tucson Catholic Foundation

1080xx 108010 108090 108099

PREPAID EXPENSE Vendors Diocese of Tucson Miscellaneous

1085xx 108510 108530

OTHER ASSETS Other Assets Scrip Inventory

10900x 109000 109001 109002 109003 109004 109005 109006

LAND, BUILDINGS AND EQUIPMENT CONSTRUCTION IN PROGRESS Church Rectory Hall School Convent Missions Cafeteria

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 109007 109008

Grounds Office

10920x 109200 109201 109202 109203 109204 109205 109206 109208 109209

LAND Church Rectory Hall School Convent Missions Cafeteria Office Miscellaneous

10930x 109300 109301 109302 109303 109304 109305 109306 109308 109309 109399

PROPERTY IMPROVEMENTS Church Rectory Hall School Convent Missions Cafeteria Office Miscellaneous Accumulated Depreciation (contra)

Optional

10950x 109500 109501 109502 109503 109504 109505 109506 109508 109509 109599

BUILDINGS Church Rectory Hall School Convent Missions Cafeteria Office Miscellaneous Accumulated Depreciation (contra)

Optional

10970x 109700 109701 109702 109703 109704 109705 109706 109707 109708 109709 109799

EQUIPMENT AND FURNITURE Church Rectory Hall School Convent Missions Cafeteria Grounds Office Miscellaneous Accumulated Depreciation (contra)

Optional

10980x 109800 109801 109802 109803

VEHICLES Church Rectory Hall School

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 109804 109805 109806 109807 109808 109809 109899

Convent Missions Cafeteria Grounds Office Miscellaneous Accumulated Depreciation (contra)

Optional

LISTING OF ACCOUNTS – LIABILITIES AND NET ASSETS 2005xx 200510 200512 200513 200514 200515 200516 200518 200530 200540 200550 200555 200557 200560 200565 200570 200580 200590 200595 200597 200599

PAYROLL EXPENSES PAYABLE Federal Income Taxes Withheld Social Security - Employee SS/Medicare Taxes – Employee Social Security - Employer SS/Medicare Taxes – Employer Medicare – Employee Medicare - Employer State Income Taxes Withheld Direct Deposits Employee Loans Employee Savings 403(b) Dental Insurance Health Insurance Vision Insurance Annual Catholic Appeal Garnishments Other Deductions Accrued Payroll Miscellaneous Payroll

2025xx 202520 202530 202540 202550 202560 202561 202562 202563 202564 202570 202580 202590 202591 202592

PAYABLE TO DIOCESE OF TUCSON Chancery Assessments Priests’ Assurance Corporation Assessments Priests’ Salary Subsidy Assessments School Assessments Pension Long-Term Disability Industrial Insurance (Worker’s Compensation) Health Insurance Payroll Taxes Property Insurance Tribunal Other Diocese of Tucson Payables Property Taxes

2032xx 203210 203290

OTHER ACCOUNTS PAYABLE Vendors Other

2065xx 206510 206590

DEFERRED FEES School Fees and Prepaid Tuition Other Deferred Fees

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 2085xx 208510 208520 208530 208590

LONG TERM DEBT Diocese of Tucson Catholic Order of Foresters Other Parishes Other Long Term Debt

2090xx 209010 209011 209012 209013 209014 209015 209016 209017 209018 209019 209020 209030

SPECIAL COLLECTIONS Annual Catholic Appeal (formerly Bishop’s Appeal) Catholic Relief Services (CRS)/Overseas Appeal Holy Land Indian and Black/US Missions Catholic Communications Holy Father/Peter’s Pence Catholic Schools/University Mission Sunday/Propagation of the Faith Campaign for Human Development (CHD) Diocesan Priests’ Retirement Catholic Home Missions Other Special Collections

2099xx 2099xx

CUSTODIAL FUNDS Parish Trust Funds (For parish/school groups. Set up as needed.)

300000 310000 320000

NET ASSETS – CLOSING ACCOUNT Temporarily restricted net assets Permanently restricted net assets

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Diocese of Tucson: PARISH ACCOUNTING MANUAL LISTING OF ACCOUNTS – REVENUE Revenue can be recorded within specific departments, using the following format. Some parishes may choose to record revenues only in Community of Faith unless they operate a school. Use of the other departments to record revenue is optional. Combine the following department codes with the last four digits, identified below, which denote the specific type of income being recorded, to develop the revenue account numbers your parish needs. Department Revenue Codes 41xxxx Community of Faith 42xxxx Liturgy (optional) 43xxxx Proclamation (optional) 44xxxx Schools 45xxxx Service to Others (optional) 4x4xxx 4x4210

CONTRIBUTIONS, GRANTS AND BEQUESTS Restricted Contributions Donor has placed a restriction on the contribution.

4x44xx

CONTRIBUTIONS

414410 414420 4x4430 414450 414460 414470 4x4480

Parish Offertory Mission Offertory Unrestricted Contributions Stole Fees Mass Intention Offerings Endowment Contributions Contributed services

4x46xx

GRANTS AND BEQUESTS

4x4610 4x4620 4x4630 4x4640 4x4650 4x4660 4x4670 4x4671 4x4672 4x4676 4x4680 4x4690

Grants Catholic Foundation Priests’ Salary Subsidy Catholic Home Missions Bequests – Unrestricted Bequests – Restricted Federal and Other Governmental Grants and Subsidies Title I Grants Title II Grants Federal Milk and Food Subsidies Annual Catholic Appeal Rebate Miscellaneous

4x6xxx

FEES FOR SERVICE

4x62xx

TUITION

4x6210 4x6220 4x6230 4x6240 4x6250 4x6260 4x6280 4x6290

In Parish Other Parish Kindergarten Preschool CTSO Tuition Assistance (contra account) Recovery of Prior Years’ Tuition Other Tuition

4x63xx

EDUCATIONAL FEES

4x6310 4x6320

Registration Curriculum Fees

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 4x6330 4x6340 4x6350 4x6360 4x6380 4x6390

Athletic Fees Extracurricular Activity Fees Cafeteria Educational Fee Assistance (contra account) Transportation Miscellaneous and Other

4x7xxx

ACTIVITY REVENUES

4x74xx

FUND RAISING

4x7420 4x7430 4x7440 4x7450 4x7490

Bingo Proceeds (Parish net bingo proceeds diocesan taxable) Raffles Fiesta Income Scrip Income Other Fundraising

(Can net fundraising events)

4x75xx

OTHER ACTIVITY REVENUES

4x7520 4x7540 4x7550 4x7570 4x7571 4x7572 4x7590

Organization Activities Celebrations Supplies and Textbook Sales Activities Candles Religious Goods, literature and Books Miscellaneous

4x8xxx 4x8010 4x8020 4x8030 4x8040 4x8050 4x8210 4x8420 4x8430 4x8510

INVESTMENT REVENUE Interest on PPIT Fund Deposits Interest on Catholic Foundation Deposits Interest on Bank Accounts Interest on Receivables Interest on Endowments – restricted Restricted investment income Gain/loss on investments held by Catholic Foundation Gain/loss on investments Donated securities

4x90xx 4x9010 4x9020 4x9030 4x9050 4x9070 4x9090

OTHER REVENUE Rental Revenue Debt forgiveness In-kind Donations of Equipment and Materials Sale of Asset Gain Insurance Proceeds (not property/liability insurance claims) Miscellaneous Other Revenue

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Diocese of Tucson: PARISH ACCOUNTING MANUAL LISTING OF ACCOUNTS – EXPENSES Expenses can be recorded within specific departments, using the following format. Some parishes may choose to record expenses only in Community of Faith unless they operate a school. Use of the other departments to record expenses is optional. Combine the following department codes with the last four digits, identified below, which denote the specific type of expense being recorded, to develop the expense account numbers your parish needs.

51xxxx 52xxxx 53xxxx 54xxxx 55xxxx

Department Revenue Codes Community of Faith Liturgy (optional) Religious Education/Proclamation (optional) Schools Service to Others/Outreach (optional)

5x20xx 5x2010 5x2011 5x2012 5x2013 5x2020 5x2030 5x2040 5x2050 5x2060 5x2070 5x2090

EMPLOYEE COMPENSATION Clergy and Religious Salaries (priests, sisters, deacons) Extra Clergy Mass Intention Stipends Stole Fees Lay Professional Staff (directors, principals, teachers) Lay Employee Office Staff (business managers, bookkeepers) Technical / Program Staff (aides, coordinators, drivers) Maintenance Staff Housekeeping Staff (cooks, housekeepers) Cafeteria Staff Other

5x22xx 5x2210 5x2215 5x2218 5x2220 5x2230 5x2260 5x2270 5x2290

EMPLOYEE BENEFITS Health and Life Insurance Industrial Insurance Long Term Disability Lay Employee Pension Plan Employer FICA (Social Security/Medicare) Employee Relations Professional Preparation Other Benefits

5x24xx 5x2410 5x2420 5x2430 5x2490

PERSONNEL RESIDENCY EXPENSES Groceries/Meals Consumable Supplies Housing Allotment Other Residency Expenses

5x30xx 5x3010 5x3020 5x3025 5x3028 5x3030 5x3032 5x3036 5x3038 5x3050

OFFICE ADMINISTRATION Office Supplies and Equipment Printing Postage Subscriptions / Dues Internet Promotions / Publics Relations Conventions / Workshops Licenses and Fees Furniture /Office Equipment Maintenance

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 5x3053 5x3055 5x3060 5x3065 5x3080 5x3090

Copier Maintenance and Repair Computer Maintenance and Support Equipment Lease and Rental Telephone Service/Finance Charges Other Administrative Expenses

5x34xx 5x3410 5x3412 5x3430 5x3440 5x3450 5x3460 5x3490

TRANSPORTATION AND TRAVEL EXPENSES Parish Vehicle – Gasoline Employee Gas Reimbursement Public Travel Vehicle / Transportation Insurance Food and Lodging Vehicle Leasing Miscellaneous Travel Expense

5x4xxx 5x4010 5x4030 5x4040 5x4060 5x4090 5x4210 5x4250 5x4410 5x4610

PROPERTY SUPPORT COSTS Facility Rent Property Insurance Utilities Building Maintenance and Repair Consumable Supplies Equipment Maintenance and Repair Vehicle Maintenance and Repair Grounds Maintenance Property Taxes

5450xx 545010 545020

CAFETERIA EXPENSES Supplies Equipment

5560xx 556020 556030 556040 556050

ASSESSMENTS Chancery Assessment Priests’ Assurance Corporation Assessment Priests’ Salary Subsidy Assessment School Assessment (Tucson parishes only)

5x7xxx

PROGRAM or CURRICULUM EXPENSES

5x70xx

PASTORAL EXPENSES

5x7020 5x7040 5x7060 5x7070 5X7080 5x7090

Organization Activities Parish Celebrations Priests’ Discretionary Fund Parish Activities Tribunal fees & forms Other Pastoral Expenses

5x71xx

LITURGICAL EXPENSES

5x7110 5x7120 5x7130 5x7150 5x7190

Church Supplies Flowers / Decorations Vestments Choir / Music Other Liturgical Expenses

5x72xx

EDUCATIONAL EXPENSES (School and/or Religious Education)

5x7210 5x7220 5x7225

Textbooks Instructional Materials and Supplies Supplies and Materials for Resale

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Diocese of Tucson: PARISH ACCOUNTING MANUAL 5x7230 5x7240 5x7250 5x7260 5x7265 5x7270 5x7280 5x7290

Guidance and Testing Library Materials Athletics Cafeteria Other Food and Refreshments Health Services Student Activities Other Educational Expenses

5x74xx

SERVICE TO OTHERS/OUTREACH

5x7420 5x7430 5x7440 5x7450 5x7460 5x7490

Social Justice Charitable Works Scholarships Church Universal Support Assistance to Other Parishes Miscellaneous Service to Others

5x78xx

PARISH FUNDRAISING ACTIVITIES

5x7810 5x7820 5x7830 5x7840 5x7890

Capital Fund Drive Bingo Expenses Raffle Expense Fiesta Expense Other Fundraising Expense

5x82xx 5x8210 5x8220 5x8250 5x8255 5x8260 5x8270 5x8272 5x8274 8x8276 5x8290

PROFESSIONAL AND OUTSIDE SERVICES Legal Fees Counseling Fees Accounting Fees Payroll Service Computer Consultation Independent Contractors Contracted Cafeteria Services Contracted Janitorial Services Contracted Office Services Other Professional and Outside Services

5x86xx 5x8610 5x8620 5x8630 5x8690

INTEREST EXPENSES Loan interest Diocese of Tucson interest Catholic Order of Foresters interest Other Catholic organizations interest

5x96xx 5x9610 5x9620 5x9640 5x9680 5x9690

MISCELLANEOUS EXPENSES Bad Debt Expenses Scrip shrinkage Realty Closing Costs Sale of asset loss Miscellaneous

5x99xx 5x9910 5x9920 5x9930

DEPRECIATION Depreciation – Building Depreciation – Equipment Depreciation – Improvements

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Optional Optional Optional

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