Complete Overhaul of Chart of Accounts

[LeighR]

Our chart of accounts has evolved over time to the point where it is a complete mess. We want to start over. We currently sync our QuickBooks Point of Sale with QuickBooks Premier Non-profit Version 2016. Where do we start? How do we go about this?

[Anonymous]

Hey there, LeighR,

I want to make sure you're able to fix your Chart of Accounts.

At the moment, the batch delete option for COA accounts is currently unavailable in QuickBooks Desktop. If you'd like to remove an account, you'll need to do it one at a time. Let me walk you through the steps:

1. Click the Lists menu.
2. Choose Chart of Accounts.
3. Right-click the account you want to remove the select Delete Account.
4. Please note that if the account you're deleting has a balance or has transactions on it, you'll only have the option to make it Inactive.

If you want to wipe everything off, I'd recommend contacting our Technical Care Support for further assistance. Here's how you can contact us:

1. Go to this link: https://help.quickbooks.intuit.com/en_US/contact#
2. Choose Quickbooks Desktop.
3. Select the product type you're using.
4. Click on the Search for something else button.
5. On the box, type Chart of Accounts.
6. Click Search.
7. Scroll down and click the Get Phone Number button.

Additionally, if you also want to delete your POS registers, this needs the expertise of our POS Care Team. There they can check your account and help you repair your Chart of Accounts in a secure environment. Here's how to get them:

1. Go to this link: https://community.intuit.com/browse/payments-contact-us
2. Select Intuit Point of Sale (QuickBooks Desktop).

That should point you to the right track, LeighR. Let me know how this goes. I want to ensure this gets taken care immediately. Have a good one!

[Mena1]

Hi Jen_D,

I hope you can help me also! I posted the below question before finding your answer here. My client's Chart of Accounts is a mess. Do you suggest deleting and starting over? Below is my original question...thank you so much!

Hi,

I have my first client and I'm feeling overwhelmed. It's a school and they classified all of their transactions as Owner's Equity. My suggestion to them (I think) would be to have me reclassify each transaction properly, as an expense, income, etc.

My question...by reclassifying their entries, will this correct their balance sheets and other reports. I believe it would but I'm a newbie and want to be sure. 

Thank you!

Mena

[Rose-A]

Hi, Mena1.

Allow me to help and provide you additional information regarding reclassifying the entries in QuickBooks.

To inline with your question, yes, you can reclassify those transactions to correct your balance sheet report and other reports in QuickBooks. However, you may want to check a few things before you get started.

• Accrual Basis: Displays accrual basis transactions for review (i.e. invoices, bills, etc.)
• Cash Basis: Displays cash basis transactions for review (i.e. sales receipts, checks, deposits, etc.).
• Balance Sheet Accounts: Displays Asset, Liability, and Equity 
• Profit & Loss Accounts: Displays Income and Expenses

After that, you can follow the steps below to access the Reclassify Transactions Tool.

1. From the Accountant Tool-belt, select the Accountant Tools (briefcase) icon. (In QuickBooks Online Accountant, you must select one of the tabs in the Your Books section before the briefcase icon will appear.)
2. Select Reclassify Transactions.

To Reclassify the transactions:

1. From within the Accounts section, select the date range you wish to review.
2. Select the Basis. (If you selected Cash basis, unpaid transactions are not displayed in the transaction list. The only way to see these transactions is to set the basis to Accrual.)
3. From the View drop-down, select the account type you wish to review. This displays a list of accounts containing transactions that meet the criteria set above.
4. Select an account to review. This populates the Transactions section with available transactions.
5. In the Transactions section, select a name from the Name drop-down.
6. Select a filter from the Show transactions drop-down menu.
7. Set any additional filters.
8. Once all filters have been set, QuickBooks displays a list of available transactions that match the criteria.

To get more insights about this, check out this recommended article: How to use the reclassify transactions tool in QuickBooks Online Accountant.

You can always get back to me if you have other questions regarding reclassifying the transactions in QuickBooks. I'd love to help.

[Mena1]

This is awesome, thank you so much!