Personal Chart of Accounts

Tracking income and expense items is crucial for long-term wealth management. Below are the recommended income and expense categories. We also encourage clients to link their accounts to our proprietary Client Portal, which utilizes the Plaid API for seamless account integration.



Each primary category has several sub-categories. We recommend tracking and monitoring expenses at the primary category level first before refining at the sub-category level.


Income

  • Paycheck
  • Dividend Income and Fund Distributions
  • Interest Income
  • Capital Gains Income
  • Other Wage Income
  • Investment
  • Returned Purchase
  • Bonus
  • Reimbursement
  • Rental Income
  • Income- Federal Tax
  • Income- State Tax

Bills and Utilities

  • Television
  • Home Phone
  • Internet
  • Mobile Phone
  • Student Loan
  • Personal Loan
  • Life Insurance
  • Tax Prep Fees
  • Credit Monitoring
  • Gardening

Business and Services

  • Advertising
  • Office Space
  • Supplies
  • Printing
  • Shipping
  • Legal
  • Rental Property Expense
  • Business Expense (categorize later)

Education

  • Children's College
  • Your College
  • School Supplies
  • Books and Supplies
  • Conferences
  • Higher Education Expenses
  • Tuition
  • Student Loan

Entertainment

  • Amusement
  • Music
  • Entertainment
  • Arts
  • Movies and DVDs
  • Newspaper and Magazines

Fees and Charges

  • Service Fee
  • Late Fee
  • Finance Charge
  • ATM Fee
  • Bank Fee
  • Trade Commissions

Food: Groceries

  • Grocery Stores
  • Farmers' Markets

Food: Restaurants

  • Coffee Shops
  • Fast Food
  • Alcohol and Bars

Gifts an Donations

  • Gifts
  • Charity
  • Church
  • Birthday
  • Anniversary
  • Wedding
  • Christmas
  • Special Occasion

Health and Fitness

  • Dentist
  • Doctor
  • Eyecare
  • Pharmacy
  • Health Insurance
  • Gym
  • Sports
  • Medicine/Vitamins
  • HSA Contributions

Home

  • Mortgage
  • Rent
  • Property Tax
  • Hoa Dues
  • General Household
  • Home Maintenance
  • Homeowner's Insurance
  • Renter's Insurance

Auto and Transport

  • Gas and Fuel
  • Auto and Registration
  • Public Transportation
  • Tax Services / Uber
  • Parking
  • Service and Auto Parts
  • Auto Payment
  • Auto Insurance
  • Tolls
  • Auto Registration
  • Auto Misc.
  • Parking Tickets

Kids

  • Kids Activities
  • Allowance
  • Baby Supplies
  • Babysitter and Daycare
  • Toys

Personal Care

  • Gym Memberships
  • Salon Services
  • Cosmetics
  • Babysitter
  • Laundry
  • Hair
  • Spa and Massage

Pets

  • Pet Food and Supplies
  • Pet Grooming
  • Veterinary

Shopping

  • Clothing
  • General Household Items
  • Furniture
  • Gardening Supplies
  • Electronics and Software
  • Hobbies
  • Sporting Goods

Travel

  • Rental Car
  • Taxi Services
  • Hotel
  • Vacation
  • Air Travel