by Intuit•13• Updated 2 days ago
Learn how to set up and add accounts to your chart of accounts.
The chart of accounts is a list of all of your accounts in QuickBooks. When you create your company file,QuickBooks automatically customises your chart of accountsbased on your business entity. Keeping your chart of accounts organised helps you when it’s time to file your taxes.
You can add more accounts anytime you need to track other types of transactions. Here's how to add more accounts to your chart of accounts.
Add a new account
- Go to Settings ⚙ and select Chart of accounts (Take me there).
- Select New.
- Enter an Account name.
- Select an Account type, then select the Detail type from the dropdown.
Find out more about account and detail types. - If this account is a subaccount, tick Make this a subaccount, and select the Parent account it should be under.
Find out more about parent accounts and subaccounts. - If you select Cash and cash equivalents, Assets, Credit card, Liabilities, or Owner's equity for the account type field, enter the Opening Balance, and fill out the starting date in the As of field.
- (Optional) Add a Description to add extra information about this account.
- Select Save.
Learn about chart of accounts usage limits
If you see a message about usage limits, you've reached the maximum number of accounts allowed for your current QuickBooks plan. If you have accounts you no longer use, make them inactive so you can add new ones. Learn more about usage limits.
