How to Modify the Chart of Accounts in QuickBooks Desktop – Gentle Frog Bookkeeping and Custom Training

In this QuickBooks Desktop aim, I ’ ll show you how to edit the Chart of Accounts. I ’ ll be using QuickBooks Accountant Desktop 2020 ( besides known as QuickBooks Premier ). quick Instructions :

  1. In the Windows menu click Lists -> Chart of Accounts
  2. Add a new account
    1. Click Account -> New in the lower left-hand corner
    2. Select the type of account
    3. Click the blue Continue button
    4. Enter the accounts information
    5. Click the blue Save & Continue button
  3. Delete an account
    1. Click Account -> Delete Account in the lower left-hand corner
    2. Click the blue OK button on the pop-up
  4. Add a subaccount
    1. Click Account -> New in the lower left-hand corner
    2. Select the type of account
    3. Click the blue Continue button
    4. Enter the accounts information
    5. Check off the subaccount check-box
    6. Select the main account
    7. Click the blue Save & Continue button
  5. Edit an account
    1. Click Account -> Edit Account
    2. Change the fields you’d like to edit
    3. Click the blue Save & Continue button
  6. Add account numbers
    1. Click Edit -> Preferences in the top menu
    2. Selecting Account -> Company Preferences
    3. Check off the “Use account numbers” check-box
    4. Click the blue OK button

Keep take for wax instructions with screenshots. To navigate to the Chart of Accounts chink on Lists in the Windows menu and then Chart of Accounts.

Navigating to the Chart of Accounts from the Windows menu in QuickBooks Desktop. When your Chart of Accounts opens you ’ ll see the default list. In the screenshot below you can see the nonpayment list for a consult business. Default Chart of Accounts list in QuickBooks Desktop for a consulting business. On the left-hand side is the names of the accounts. While on the right-hand side you see what type of accounts they are. The only income in the tilt is Consulting Income ( highlighted green ). And, there are no bank accounts .

Adding New Accounts

To add a bank account pawl on the Account button in the lower left-hand corner then choice New. Adding a new account in the QuickBooks Desktop Chart of Accounts. Select Bank from the tilt of accounts and click the amobarbital sodium Continue button. Add a bank account in QuickBooks Desktop. This will bring you to a foliate where you enter the information for your deposit account. Entering new bank account information in QuickBooks Desktop. Enter your bank accounts data. Including the name, account number, routing count, etc. then click the blue Save & Close clitoris. Set Up Bank Feed pop-up in QuickBooks Desktop A pop-up book will appear asking if you ’ d like to set up bank feeds. We do want to set up bank feeds but I ’ ll show you how to do that in a future tutorial. now I can see the Checking report in my Chart of Accounts. New checking account appearing in the Chart of Accounts in QuickBooks Desktop I ’ m going to go ahead and add a second income account. Click on the Account release in the lower left-hand corner then blue-ribbon New. Like you did when creating the check report. This time I ’ ll choice “ Income ” as the category and then click the blue Continue button. Adding a new income account in QuickBooks Desktop. At the peak of the screen, it shows we ’ re creating an Income Account Type. You can click this drop-down and select a different account character if you selected the wrong type on the former page. Changing the Account Type when adding a new account in QuickBooks Desktop Enter a name for your bill. Everything else on the page is optional, you can add it if you ’ d like. then click the blue Save & Close button .

Deleting an Account

adjacent, we ’ ra going to take a count at the expenses. There ’ s an expense labeled “ Computer and Internet Expenses ” that I don ’ t need. I ’ meter going to show you how to turn-off/hide this account. Click on the Account button in the lower left corner then choose “ Delete Account. ” Deleting an account in the Chart of Accounts in QuickBooks Desktop.

A pop fly will appear asking if you ’ ra certain you want to delete the account. Click the blue OK button. Delete Account pop-up in QuickBooks Desktop

Adding a Subaccount

There ’ s an Insurance Expense account that has a subaccount General Liability Insurance. A sub-account in the Chart of Accounts in QuickBooks Desktop. For my clientele I don ’ triiodothyronine just have General Liability Insurance. I besides have Professional Liability Insurance. I ’ m going to add that as another subaccount. Click on the Account button in the lower left corner then choice New. This time I ’ ll blue-ribbon Expense before click the blue Continue button. Enter the acccount ’ sulfur name then check off “ Subaccount ” under the Account Name playing field. Select the chief account from the drop-down. then click the blue Save & Close clitoris. Creating a subaccount in QuickBooks Desktop I now have two subaccounts under the Insurance Expense. Subaccounts in the Chart of Accounts in QuickBooks Desktop

Editing an Account

now let ’ s change the name of an account. I ’ thousand going to change the “ Office Supplies ” expense to “ Office Expense. ” Select the score you want to rename. then click on the Account clitoris in the lower left-hand corner and choice Edit Account. Editing an account in the Chart of Accounts in QuickBooks Desktop The next screen will look like the one you saw when creating an account. Except that the information for the account is already populated. Edit the fields you ’ d like to change and click the blue Save & Close push button. Editing and Account Name in QuickBooks Desktop If you find there ’ s an score that you wish you had please add it. If there ’ s an report that doesn ’ metric ton lend oneself to your business feel complimentary to delete it .

Adding Account Numbers

If you ’ d like to use account numbers click Edit in the top menu then choose Preferences. Editing preferences in QuickBooks Desktop The Preferences pop fly will appear. On the left side blue-ribbon Accounting. On the right-hand side select the Company Preferences check. Editing Accounting Company Preferences in QuickBooks Desktop Under ACCOUNTS check off “ Use account numbers ” then click the blue OK button to the right. To add account numbers to QuickBooks Desktop check off Use account numbers in the Preferences You ’ ll now see score numbers to the left of your accounts. Account numbers added to accounts in QuickBooks Desktop Chart of Accounts If any of your accounts don ’ t have account numbers you can well add them. Select the explanation you want to add an account number to. then pawl on the Account clitoris in the lower left-hand corner and choose Edit Account. On the editing sieve you ’ ll now see a Number box in the upper berth right corner. This is where you enter the account number. then click the blue Save & Close button.

Editing an account number in QuickBooks Desktop If you have any questions about modifying your Chart of Accounts in QuickBooks Desktop please ask them in the comments. Or click the green release below to schedule a rid consultation. If you ’ d like to watch me walk through this march check out the video below :

reference : https://www.peterswar.net
Category : Finance

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