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#chart-of-accounts

Chart of Accounts

Design and organize your account hierarchy for effective financial tracking

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8 min read

Laundromat Bookkeeping: Reconciling Coin and Card Revenue Against Utility Usage to Catch Shrinkage

Laundromat utilities run 20–25% of gross revenue, which makes water and gas meters a second independent ledger — convert metered consumption into an implied cycle count and revenue figure, compare it to coin-box counts, and a persistent gap over 5–8% flags theft, leaks, or miscalibrated machines. Includes a weekly-to-annual checklist covering multi-stream income accounts and Section 179 equipment expensing.

Mike Thrift

bookkeepingsmall-businessreconciliation
8 min read

Orthodontic Practice Bookkeeping: Contracts Receivable, Deferred Revenue, and Insurance AR Explained

Contracts receivable — typically 55–60% of trailing twelve-month production in a healthy orthodontic practice — is a distinct metric from accounts receivable, and tracking it correctly requires ASC 606-style deferred revenue schedules, monthly insurance write-off reconciliation, and a chart of accounts that separates production, collections, and write-offs.

Mike Thrift

bookkeepinghealthcarerevenue-recognition
9 min read

Indoor Skate Park Bookkeeping: Why Three Revenue Streams Can Sink a Profitable Facility

An indoor skate park is three businesses in one — admissions with near-zero COGS, high-margin coaching, and pro shop retail carrying 55–70% cost of goods sold. This guide covers splitting the chart of accounts by stream, recognizing punch card and membership revenue under ASC 606, depreciating ramp systems over 5–7 years with Section 179, and building a margin-weighted break-even model against $25,000–$30,000 in monthly fixed costs.

Mike Thrift

bookkeepingsmall-businessrevenue-recognition
9 min read

Bookkeeping for Medical Device Reprocessors: When the FDA Calls You a Manufacturer

Third-party reprocessors of single-use medical devices are regulated as full manufacturers under the FDA's QMSR (effective February 2, 2026) — same 510(k), MDR, and UDI obligations as the OEM. That reshapes the books; a three-stage inventory split, per-device-family COGS, recurring validation expenses, and product liability reserves sized by risk class.

Mike Thrift

healthcaremanufacturingcompliance
9 min read

Boat Detailing Business Bookkeeping: Per-Foot Pricing, Seasonal Cash Flow, and Marina Contracts

How to set up the books for a boat detailing business — separate income accounts for each service tier (wash, polish, ceramic coating, oxidation restoration priced $10–$200 per foot), a 12-month cash flow forecast for a season that concentrates 80% of revenue into six months, and distinct tracking for recurring marina and yacht club contracts.

Mike Thrift

bookkeepingsmall-businessseasonal-business
8 min read

Colorado's Psilocybin Healing Centers Just Watched Cannabis Get a Tax Break They Didn't

Cannabis got Section 280E relief when medical marijuana moved to Schedule III in April 2026, but Colorado's 34 licensed psilocybin healing centers are still fully subject to it. Here is how 280E limits deductions to COGS, why facilitator session labor is the contested cost category, and how to structure a chart of accounts, deferred revenue, and cash controls for a Schedule I business.

Mike Thrift

tax-compliancecost-of-goods-soldbookkeeping
9 min read

Cotton Gin Bookkeeping: Costing the Per-Bale Ginning Fee, Cottonseed Byproduct Revenue, and Module Truck Hauling

USDA's latest survey put average ginning cost at $49.31 per bale in 2022, up 106% in three years. This guide shows how a cotton gin should structure its books — unbundling the per-bale ginning fee into receiving, drying, pressing, and bagging cost centers, booking cottonseed (15–20% of per-bale gross revenue) as a separate product line, and breaking module truck hauling out as its own transportation charge.

Mike Thrift

bookkeepingfarmingseasonal-business
9 min read

Daycare and Childcare Center Bookkeeping: Taming Tuition, Meal Reimbursements, and Subsidy Payments That Never Arrive on Time

Childcare centers juggle three payers on three different clocks — private tuition, CACFP meal reimbursements, and state subsidies that pay 30–60 days after care is provided. This guide covers a classroom-level chart of accounts, automated advance tuition billing (roughly 90% on-time payment versus 50–60% for manual invoicing), CACFP meal-count documentation, and sizing a cash reserve to your actual subsidy lag.

Mike Thrift

bookkeepingsmall-businesscash-flow
7 min read

Fishing Charter Bookkeeping: Why Fuel and Bait Are COGS and Your USCG License Deserves Its Own Line Item

A well-run fishing charter nets roughly a 25% margin even when booked solid. This guide shows how to structure a charter's books — classify fuel, bait, and ice as cost of goods sold for per-trip margins, track the $1,300–$1,600 USCG six-pack license and its five-year renewal cycle, and accrue maintenance reserves per engine hour to survive the off-season.

Mike Thrift

bookkeepingsmall-businesscost-of-goods-sold
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