In what order are liabilities listed in the chart of accounts?

Order for Listing Liabilities

It is logical for a company’s liabilities to be organized in the chart of accounts in the same way as they are presented on the balance sheet:

1. Current liabilities
2. Noncurrent or long-term liabilities

Order for Listing Current Liabilities

Within the current liabilities classification, the order in which the current liability accounts are listed can vary. Here is a summary of how they might be organized:

• Short-term notes payable
• Current portions of long-term debt
• Accounts payable
• Payroll related liabilities
• Other accrued expenses
• Income taxes payable

Again, the order will vary. For example, some companies will list Accounts Payable as the first current liability account.