[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-177909-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-177909-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","chart-of-accounts-for-law-firms-assets","Chart of Accounts for Law Firms - Assets","","Chart of Accounts for Law Firms - Assets provides a sample account structure used for additional modified cash basis reporting. It organizes the general ledger into Assets, Liabilities, and partners’ equity categories, with detailed subaccounts for cash, short-term investments, receivables from clients, prepaid and other current assets, fixed assets, accumulated depreciation, and other long-term assets. It also lists common liability items such as payroll tax withholdings, loans payable, accrued billable expenses, and other current obligations, supporting consistent internal tracking.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/chart-of-accounts-for-law-firms-assets/177909/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/chart-of-accounts-for-law-firms-assets/177909.png","ImageObject",442,249,{"name":42,"@type":43},"Asher","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-10-23","2026-09-02",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",14,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What is the purpose of this chart of accounts for law firms?","Question",{"text":63,"@type":64},"It provides a structured account list to support additional modified cash basis internal reporting alongside the requirement to maintain cash-basis accounting books.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Which asset accounts are included in the Assets section?",{"text":68,"@type":64},"The document includes cash accounts, short-term investments, costs recoverable from clients, other receivables, prepaid and other current assets, fixed assets, accumulated depreciation and amortization, and other long-term assets.",{"name":70,"@type":61,"acceptedAnswer":71},"How are liabilities represented in the sample chart of accounts?",{"text":72,"@type":64},"Liabilities are organized into employee payroll tax liabilities, short-term loans payable, portions of long-term loans due within one year, other current liabilities, and long-term loans payable.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},177909,1788329606,{"code":4,"msg":82,"data":83},"success",[84,89,94,98,103,108,112,117,122],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":55,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":110,"slug":111},17,40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":82,"data":127},{"doc_id":79,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":109,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":80,"read_time":33},687197207639,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","SAMPLE ADMINISTRATIVE FORM\n[Practice Resource Center Note:  Law firms are required by the IRS to maintain accounting books on a cash basis.  Nonetheless, law firm management may wish to do additional internal reporting.]\nChart of Accounts for Law Firms\nAccounts Used for Additional Modified Cash Basis Statements\nAssets\n100.XX\tCash\n--101.00\tChecking accounts\n101.10\tChecking accounts #1\n101.20\tChecking accounts #2\n--102.00\tSavings accounts\n102.10\tSavings accounts #1\n102.20 \tSavings accounts #2\n--109.00\tPetty cash\n109.10\tPetty cash account #1\n109.20\tPetty cash account #2\n100.XX\tReserved\n--111.00\tReserved\n--112.00\tReserved\n120.XX\tShort-term investments\n--121.00\tShort-term investments\n121.00\tTreasury securities\n121.20\tOther marketable securities\n130.XX\tCosts recoverable from clients\n--131.00\tCosts recoverable from clients - unbilled\n--132.00\tCosts recoverable from clients - billed\n140.XX\tOther Receivables\n--141.00\tExpense advances\n--142.00\tReceivables from partners (officers) and employees (other than loans to fund partners' capital - see Partners' Equity)\n142.10\tShort-term notes and loans receivable from partners (officers) and employees\n142.20\tOther receivables from partners (officers) and employees\n--143.00\tMiscellaneous receivables and deposits\n143.10\tDeposits (refundable)\n143.90\tMiscellaneous receivable\n150.XX\tOther current assets\n--151.00\tPrepaid Insurance\n--159.00\tOther current assets\n160.XX\tFixed assets\n--161.00\tFurniture and Fixtures\n--162.00\tLeasehold improvements\n--163.00\tLibrary books\n--164.00\tEquipment\n164.10\tReprographic equipment\n164.20\tCommunications equipment\n164.30\tComputer equipment\n164.90\tOther equipment\n--165.00\tBuilding(s)\n--167.00\tOther depreciable fixed assets\n--168.00\tLand\n--169.00\tNon depreciable fixed assets\n170.XX\tAccumulated depreciation and amortization\n--171.00\tAccumulated depreciation - furniture and fixtures\n--172.00\tAccumulated amortization - leasehold improvements\n--173.00\tAccumulated depreciation - library books\n--174.00\tAccumulated depreciation - equipment\n174.10\tReprographic equipment\n174.20\tCommunications equipment\n174.30\tComputer equipment\n174.90\tOther equipment\n--175.00\tAccumulated depreciation - buildings\n--177.00\tAccumulated depreciation - other depreciable fixed assets\n190.XX\tOther long-term assets\n--191.00\tCash surrender value of life insurance\n--192.00\tMiscellaneous securities\n--193.00\tOther long-term investments\n--194.00\tIRS tax deposits\n--199.00\tOther long-term assets\nLiabilities\n200.XX\tEmployee payroll tax liability\n--201.00\tFederal income tax withheld\n--202.00 \tState income tax withheld\n--203.00\tEmployee FICA tax withheld\n210.XX\tShort-term loans payable\n--211.00\tShort-term loans payable\n211.10\tShort-term loans from financial institutions\n211.90\tOther short-term loans\n220.XX\tPortion of long-term loans due within one year\n--221.00\tLong-term loans due within one year\n--222.00\tAmounts payable to decreased and retired partners within one year\n230.XX\tReserved\n--231.00\tReserved\n240.XX\tOther current liabilities\n--241.00\tAccrued expenses-billable to clients\n--242.00\tPayroll deductions\n242.10\tHospitalization plan deductions\n242.20\tLife insurance withholdings\n242.30\tEmployee pension plan contributions withheld\n242.90\tOther payroll deductions\n--249.00\tOther current liabilities\n250.XX\tLong-term loans payable\n--251.00\tLong-term loans payable\n251.10\tLong-term loans from financial institutions\n251.90\tOther long-term loans\nPartners' (Shareholders') Equity (for a Partnership)\n300.XX\tPartners' capital accounts\n--301.XX\tPartners' capital accounts balances at beginning of year\n301.10\tPartner A\n301.20\tPartner B\nEtc.\n--302.XX\tCurrent year contributions and other additions to partners' capital\n302.10\tPartner A\n302.20\tPartner B\nEtc.\n--303.XX\tCurrent year withdrawals and other deductions from partners' capital\n303.10\tPartner A\n303.20\tPartner B\nEtc.\n310.XX\tPartners' income accounts\n--311.XX\tUndistributed income from prior years\n311.10\tPartner A\n311.20\tPartner B\nEtc.\n--312.XX\tCurrent year's interest on partners","cbCaicHYAOU6M9Sd","https://ap.wps.com/l/cbCaicHYAOU6M9Sd","docx",186664,10,"English","# Assets\n## Cash\n## Reserved\n## Short-term investments\n## Costs recoverable from clients\n## Other Receivables\n## Other current assets\n## Fixed assets\n## Accumulated depreciation and amortization\n## Other long-term assets\n# Liabilities\n## Employee payroll tax liability\n## Short-term loans payable\n## Portion of long-term loans due within one year\n## Other current liabilities\n## Long-term loans payable\n# Partners' (Shareholders') Equity","[{\"question\":\"What is the purpose of this chart of accounts for law firms?\",\"answer\":\"It provides a structured account list to support additional modified cash basis internal reporting alongside the requirement to maintain cash-basis accounting books.\"},{\"question\":\"Which asset accounts are included in the Assets section?\",\"answer\":\"The document includes cash accounts, short-term investments, costs recoverable from clients, other receivables, prepaid and other current assets, fixed assets, accumulated depreciation and amortization, and other long-term assets.\"},{\"question\":\"How are liabilities represented in the sample chart of accounts?\",\"answer\":\"Liabilities are organized into employee payroll tax liabilities, short-term loans payable, portions of long-term loans due within one year, other current liabilities, and long-term loans payable.\"}]","Chart of Accounts for Law Firms - Assets | DOCX"]