The Single Account Plan (PUC) is the list of all the accounts that are recorded in the accounting processes or economic transactions of a company. The main objective of the PUC is to ensure transparency, clarity, reliability and comparability. Keep reading to learn more!
Which decree regulates the Single Account Plan in Colombia?
The PUC is regulated under Decree 2650 of 1993, which is made up of a Catalog of Accounts, description and dynamics for their application.
How is the Single Account Plan structured?
The Chart of Accounts is structured as follows:
- Class: first digit
- Group: first two digits
- Account: first four digits
- Subaccount: first six digits
- Auxiliary: 7 or more digits (optional).
Classes of the Single Account Plan
According to the PUC, classes 1, 2 and 3 comprise the accounts that make up the Balance Sheet; Classes 4, 5, 6 and 7 correspond to the Profit or Loss Statement or Income Statement accounts and classes 8 and 9 detail the Order Accounts.
|
Code |
Account |
|
1 |
Active |
|
11 |
Available (cash and cash equivalent) |
|
12 |
Investments |
|
2 |
Passive |
|
21 |
Financial obligations |
|
22 |
Suppliers |
|
3 |
Heritage |
|
31 |
Social capital |
|
32 |
Capital surplus |
|
4 |
Income |
|
41 |
Operational |
|
42 |
Not operational |
|
5 |
Bills |
|
51 |
Administration Operations |
|
52 |
Sales Operational |
|
6 |
Costs of sale |
|
61 |
Costs of sales and provision of services |
|
62 |
Shopping |
|
7 |
Production or operating costs |
|
71 |
Raw material |
|
72 |
Direct labor |
|
8 |
Debtor memorandum accounts |
|
81 |
Contingent rights |
|
82 |
Tax debtors |
|
9 |
Creditor memorandum accounts |
|
91 |
Contingent liabilities |
|
92 |
Acreedoras fiscales |
In that order of ideas, it is important to remember that:
Assets are those assets, rights and other properties or resources that are economically controlled by the company.
Liabilities are the debts and financial obligations that the company has.
Equity represents the residual value by subtracting the total assets and liabilities, resulting in the net resources of the organization.
Revenue represents turnover or goods sold that help increase assets.
Expenses are the derogations or outflows of money incurred by the organization.
Cost of sales groups together direct and indirect cost accounts.
Production costs are the expenses used to manufacture goods.
Debtor memorandum accounts group the events that may generate rights that affect the financial structure.
Creditor memorandum accounts group the accounts that record commitments or contracts related to possible obligations that may affect the financial structure.
Account descriptions and dynamics
Article 15 of Decree 2650 of 1993 specifies the descriptions and dynamics of each type of account. It is important to take them into account because the descriptions detail the concepts of the different classes, groups and accounts in the catalog, while the dynamics explain the way in which the accounts should be used and carry out the different accounting movements that affect them.
In this way, the PUC makes it easier for companies to analyze their financial information, the audit process, as well as control their accounting.
Now, if you are wondering how to create a Single Account Plan, remember that Oddo-ERP is the platform that from a single place allows you to control areas of your company such as accounting and apply the PUC at an affordable cost. Get to know him!
