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Connect with and learn from others in the QuickBooks Community.
Join nowHello All,
I've been planning to ask this for a very long time but never found the time. Nevertheless I am curious to hear your opinion.
In our business we configured the charts of accounts as nested tree.
Top-level 1
Sub-Sub-Account1
Top-level 2
etc etc etc.....
The idea behind this is to track Expenses, COGS, Income and other financial transactions on different levels. For example we have an expense tree as follows:
Office Expenses
Software Purchases
Software Subscriptions
Hardware Purchases
Repair
Printing Paper
Ink
Water
etc...etc....
When running reports, we can compare the expense of water for example to Office Supplies and Office Expenses totals which is very useful.
I am curious to know if this is completely wrong and are we causing QB to miscalculate the sums or is this actually just another, more granular, way of tracking transactions in QB?
Thanks much for your help and input.