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How to Set up Chart of Accounts in QuickBooks Online

How to Set up Chart of Accounts in QuickBooks Online

There are many Business owners who are not Bookkeepers nor Accountants. They are just doing their business. They don’t know how to do their Business Bookkeeping to file their Business taxes. So they need help with Bookkeeping. may people sign up the QuickBooks online as Accounting Software. After signing up, they need help to set up QBO for their business. Setting up Chart of Accounts is the first step when you set up any Business Books.

Any Business owner who is doing business. He doesn’t have any Account Degree. He doesn’t know even what is the chart of Accounts. Because they don’t have an Accounting degree or Accounting Training. They are worried about setting up a chart of Accounts if there should be any error occurs.  Their Business books will me huge messed. Now you don’t get any training for setting up charts of accounts. In this Blog, few easy steps that you can take to set up the chart of Accounts.

What is Chart of Accounts?

Before setting up the chart of Accounts, You need to know what is Charts of Accounts and why you need it?Setting up Chart of Accounts in QuickBooks Online Charts of Accounts 400x133 - How to Set up Chart of Accounts in QuickBooks Online The Chart of Accounts is the list of accounts that we will use to classify our business income and Expenses. Setting the Charts of Accounts is an essential part of setting up your company in QBO.

The Charts of Accounts in QuickBooks Online

Here are a few steps to set up the Chart of Accounts for your Business.

  1. Click on the Gear Icon.
  2. Select the Chart of Accounts

01 Setting up Chart of Accounts in QuickBooks Online QBO Charts of Accounts 300x131 - How to Set up Chart of Accounts in QuickBooks Online

In QuickBooks Online, there is not only one way to Access the Chart of Accounts. Here is the other way to Access he Chart of accounts.

Go on the left navigation bar and select Accounting.

02 QuickBooks Online left navigation Bar Accounting charts of accounts Chart of Accounts journal of accountancy chart of accounts t accounts quickbooks chart of accounts 300x184 - How to Set up Chart of Accounts in QuickBooks Online

How to View Chart of Accounts In QuickBooks Online

When you will set up your Company in QBO. QuickBooks online set up default list of  Accounts for your business. It will not be a complete list of All Accounts. If you have the small business and you can start with those what are default accounts.

03 a sample chart of accounts quickbooks chart of accounts types of expenses in accounting list of expenses in accounting 300x154 - How to Set up Chart of Accounts in QuickBooks Online

 

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