🎯 New to QuickBooks? Let’s talk about your Chart of Accounts!

🎯 New to QuickBooks? Let’s talk about your Chart of Accounts!

If you’re just starting out, one of the first things you’ll want to do is set up your Chart of Accounts (COA). Why? Because every financial transaction you record will impact at least two accounts. 

✅ QuickBooks Online already gives you a generic list of common accounts. But if you need more specific ones, here’s how to add them:

5 Simple Steps to Create a New Account in QuickBooks Online: 

1️⃣ Click New Account

2️⃣ Type in a name for the new account (e.g., Business Registration Fees, Credit Card, etc.)

3️⃣ Select Account Type (Asset, Expense, Liability, Income, etc.)

4️⃣ Select Detail Type (e.g., Discounts/Refunds Given, etc.)

-- If you’re creating a subaccount, click “Make this a subaccount”

5️⃣ Hit Save

💡 Pro tip: Check out the arrows in the screenshot below to see the many ways you can quickly access the Chart of Accounts in QuickBooks Online. Reprinted with permission © Intuit Inc. All rights reserved.