The Ultimate Chart of Accounts for Water Restoration Businesses

We tailor this list for each client specifically, but if you need a starting point, this list includes Balance Sheet accounts (Assets, Liabilities, Equity), Income, COGS, and Expenses, tailored for restoration industry needs. Use subaccounts where appropriate to maintain clarity without cluttering your reports.

💰 ASSETS

Bank Accounts

• 1000 - Checking Account

• 1001 - Savings Account

• 1005 - Petty Cash

Accounts Receivable

• 1100 - Accounts Receivable

Other Current Assets

• 1200 - Undeposited Funds

• 1210 - Prepaid Expenses

• 1220 - Employee Advances

• 1230 - Inventory (if tracked)

Fixed Assets

• 1500 - Vehicles

• 1510 - Equipment

• 1520 - Accumulated Depreciation - Vehicles

• 1530 - Accumulated Depreciation - Equipment

Other Assets

• 1600 - Security Deposits

• 1610 - Long-Term Investments (if applicable)

📉 LIABILITIES

Current Liabilities

• 2000 - Accounts Payable

• 2010 - Credit Card Payable

• 2020 - Payroll Liabilities

• 2030 - Sales Tax Payable

• 2040 - Line of Credit

Long-Term Liabilities

• 2100 - Vehicle Loans

• 2110 - Equipment Loans

• 2120 - SBA / EIDL / Other Long-Term Loans

📊 EQUITY

• 3000 - Owner's Equity

• 3100 - Owner Contributions

• 3200 - Owner Distributions / Draws

• 3300 - Retained Earnings

• 3400 - Net Income

📈 INCOME ACCOUNTS

• 4000 - Water Mitigation Revenue

• 4010 - Mold Remediation Revenue

• 4020 - Fire or Smoke Cleanup Revenue

• 4030 - Contents Cleaning Revenue

• 4040 - Rebuild / Reconstruction Revenue

• 4050 - Consulting / Subcontracted Labor Revenue

📦 COST OF GOODS SOLD (COGS)

• 5000 - Subcontractor Payments

• 5010 - Materials and Supplies - Job Specific

• 5020 - Equipment Rental - Jobs

• 5030 - Dump Fees / Disposal

• 5040 - Job-Related Fuel or Mileage

• 5050 - Consumables

• 5060 - Equipment Maintenance - Job Related

• 5070 - Third-Party Testing (asbestos, mold, etc.)

Labor (COGS - Direct Field Labor)

• 5100 - Field Wages

• 5110 - Field Payroll Taxes

• 5120 - Workers’ Comp - Field Staff

• 5130 - Benefits / PTO - Field Staff

🧾 OPERATING EXPENSES (OVERHEAD)

Administrative & Office

• 6000 - Office Wages

• 6010 - Admin Payroll Taxes

• 6020 - Workers’ Comp - Office/Admin

• 6030 - Office Supplies

• 6040 - Software Subscriptions

• 6050 - Marketing & Advertising

• 6060 - Meals & Client Entertainment

Facilities & Equipment

• 6100 - Rent

• 6110 - Utilities

• 6120 - Office Internet & Phones

• 6130 - Equipment Repairs & Maintenance

• 6140 - General Liability Insurance

• 6150 - Auto Insurance

• 6160 - Equipment Depreciation

Vehicle Expenses

• 6200 - Fuel

• 6210 - Auto Repairs & Maintenance

• 6220 - Vehicle Registration

Professional & Financial

• 6300 - Bank & Merchant Fees

• 6310 - Interest - Credit Cards

• 6320 - Interest - Loans

• 6330 - Accounting / CPA Services

• 6340 - Legal Fees

• 6350 - Licensing & Certifications

📎 OTHER INCOME & OTHER EXPENSES

Other Income

• 7000 - Miscellaneous Income

• 7010 - Credit Card Rewards / Rebates

Other Expenses

• 8000 - Owner Health Insurance (if not through payroll)

• 8010 - Owner Draws (non-wage)

• 8020 - Non-Operating Expenses

✅ Tips for Setup & Use

• Keep job costs in COGS, not overhead, to get clean gross profit data.

• Separate field labor from office/admin wages so job costing is clear.

• Use Projects or Classes in your accounting software (e.g., QuickBooks Online) to track profitability per job.

• Regularly reconcile bank, credit card, and loan accounts to keep the Balance Sheet accurate.

Need Help Implementing This?

At Kiwi Cash Flow, we help restoration businesses set up accurate, customized financial systems so you can track profit, cash flow, and job performance from day one.

👉 Schedule a call here to build a bookkeeping system that supports real growth.