Electricity, Gas, Oil & Other Heating Costs: Codes 7200, 7201, 7202 & 7203

Energy costs get their own dedicated block of codes, split by fuel type — useful given how differently electricity, gas and oil prices can move relative to each other.

The codes, and what each one holds

Code 7200 — Electricity records electricity bills for the business premises.

Code 7201 — Gas records mains gas bills.

Code 7202 — Oil records heating oil purchases, common for premises off the mains gas grid.

Code 7203 — Other Heating Costs covers any other heating fuel or cost not covered by the three codes above. All four are Overheads codes and normally carry a debit balance.

A worked example

Say a rural workshop, off the mains gas network, pays £320 for electricity this quarter and tops up its heating oil tank for £680.

Electricity (code 7200): £320 debited.

Oil (code 7202): £680 debited.

Why this matters day to day

Splitting energy costs by fuel type makes it easy to see which one is driving a rising bill, which matters when energy prices move independently of each other, as they often do. It's also directly useful for anyone assessing where the business might cut costs or switch tariffs, since electricity and gas markets can be shopped separately in a way a single combined "energy" code would obscure.