Retail chart of accounts
A shop often takes money for goods it hasn't handed over yet, through lay-bys and gift cards. This chart adds accounts for those, and for stock that goes missing and tills that come up short, to the general chart of accounts.
- By Book Keeping Pros
- Sources checked 15 Oct 2026
What this industry adds
- Under a lay-by, the customer pays a deposit and instalments and collects the goods once the full price is paid. Lay-by deposits received tracks what has been paid on open lay-bys.
- A gift card is paid for now and exchanged for goods later, so Gift cards sold and not yet redeemed tracks what customers have paid on cards still to be used.
- With buy now pay later, the customer takes the goods home and usually pays the provider in instalments, while the provider pays the shop. Buy now pay later payouts due holds those sales until the payout arrives.
- Stock losses and damage records stock that a stocktake shows is missing or damaged beyond sale, and Till shortfalls records cash missing when a till count comes in under the point of sale report. Your accountant can say how stock losses should sit beside Cost of goods sold in your reports.
Download the chart
The general accounts and this industry's accounts in one CSV file, in code order, which opens in any spreadsheet program.
Download the CSV fileThe accounts this chart adds
| Code | Account name | Type | What goes in it |
|---|---|---|---|
| 1-1500 | Buy now pay later payouts due | Asset | Sales paid through a buy now pay later service that the provider has not yet paid to the shop |
| 2-1300 | Lay-by deposits received | Liability | Deposits and instalments customers have paid under lay-by agreements for goods not yet handed over |
| 2-1310 | Gift cards sold and not yet redeemed | Liability | Amounts customers have paid for gift cards that have not yet been exchanged for goods |
| 6-2100 | Freight and delivery to customers | Expense | Courier, postage and delivery costs for sending goods out to customers |
| 6-2110 | Stock losses and damage | Expense | The cost of stock found missing, stolen or damaged beyond sale when a stocktake is compared with the stock records |
| 6-2120 | Till shortfalls | Expense | Cash missing from a till when its end-of-day count is less than its point of sale report |
| 6-2130 | Packaging and shopping bags | Expense | Bags, boxes, tissue paper and gift wrap given out with purchases |
Illustrative example only: these rows show the method and are not sourced data.
What goes in each column
- Code: A number that sorts the account into its group: 1 for assets, 2 for liabilities, 3 for equity, 4 for income, and 5 and 6 for expenses.
- Account name: The name that appears in your books and reports.
- Type: Asset, Liability, Equity, Income or Expense, which decides whether the account appears on the balance sheet or the profit and loss statement.
- What goes in it: The transactions to record against the account.
How to use it
- Start from the downloaded CSV and delete the accounts the shop won't use, such as Buy now pay later payouts due if you don't offer buy now pay later.
- Give each open lay-by and each gift card a reference, so the balances of Lay-by deposits received and Gift cards sold and not yet redeemed can be checked against a list.
- Count each till at close of trade and post any cash missing against its point of sale report to Till shortfalls.
- After each stocktake, record any stock the count shows is missing or damaged beyond sale in Stock losses and damage.
- Record the fees your payment provider charges to accept card payments in the general Bank fees account, which already covers merchant fees.
- The accounts here are for the shop's own money. Ask your accountant how lay-by and gift card balances should be treated in your reports.
The chart is a CSV file, which opens in a spreadsheet program. It is not set up for importing directly into any particular accounting software, so check the format your software expects before you load the accounts into it.
Related pages
Related terms
Sources
- Key financial terms
business.gov.au, Australian Government. Current at 15 October 2026, released 9 July 2024. Checked 15 October 2026.
© Commonwealth of Australia 2020, licensed under CC BY 3.0 AU. Licence: CC BY 3.0 AU.
- Competition and Consumer Act 2010, Schedule 2 (Australian Consumer Law), section 96
Federal Register of Legislation, Office of Parliamentary Counsel. Compilation No. 167, 16 September 2026, released 16 September 2026. Checked 16 October 2026.
Based on content from the Federal Register of Legislation at 16 October 2026. For the latest information on Australian Government legislation please go to https://www.legislation.gov.au. Licence: CC BY 4.0.
- Payment methods
Australian Competition and Consumer Commission. Current at 2 October 2026, released 2 October 2026. Checked 16 October 2026.
Source: Based on ACCC data or other content Licence: CC BY 4.0.
- Gift cards and discount vouchers
Australian Competition and Consumer Commission. Current at 23 September 2026, released 23 September 2026. Checked 16 October 2026.
Source: Based on ACCC data or other content Licence: CC BY 4.0.
- Review of Merchant Card Payment Costs and Surcharging, Conclusions Paper: Glossary of Key Terms
Reserve Bank of Australia. Conclusions Paper, March 2026, released 31 March 2026. Checked 16 October 2026.
Source: Reserve Bank of Australia 2026 Licence: CC BY 4.0.
Related guides
How to set up a chart of accounts
How to set up a chart of accounts for a small business: the five account types, choosing accounts and codes, and keeping the list useful as you grow.
How to do a stocktake
What a stocktake is, how to prepare for and run the count, how to deal with differences from your records and what to do with the results.
How to manage inventory
How to manage stock from day to day: recording what comes in and goes out, setting reorder points, spotting slow-moving stock and counting between stocktakes.