I need to create a totally new (bespoke) chart of accounts when starting the new accounting year, but do not want to pay for another company in QB Online. How, please?

[Rustler]

Not something you can get done in QBO.  some accounts are defaults and can not be made inactive, and you can not delete accounts at all.

Why would you need to do that for each year?  QB reports based on a date range, it does not matter how many years of transactions are in an account.

[EmmaM · Accepted solution]

Hi Paul

You can set up new chart of accounts, there is not really a bespoke option as you have to use the account type/detail type form the options in the product,you can then name as you want.

If you wanted to name it for that specific year you could and you can make ones you do not use going forward inactive but if those accounts do not  have a zero balance it will do an adjusting entry in the QB. Though the reporting can be customised by date for the specific dates you are in for the financial year so any not used will not show in that period anyway.

Any questions let us know