I have touched on this before but I am still struggling what be the best way to set up account numbers that would carry over from one year to the next to provide a year to year comparison without requiring the creation of new accounts each year as per the following:
- we conduct two to three carving classes each year
- the instructors normally do not change
- the items being carved do change
I am currently looking at the following set up:
47250 Workshop Fees
472501 2021 - Instructor "A" - Carving "A"
472502 2021 - Instructor "B" - Carving "B"
472503 2021 - Instructor "C" - Carving "C"
My dilemma is:
- I don't want to create a new set of accounts to cover 2022 and subsequent years as I will eventually run out of numbers
- the Carving items for 2021 will change in 2022
- if I drop both the year and carving Items leaving only the Instructor names this will work but it doesn't provide much detail
Question: if I leave the current account numbers with their respective titles can I change those same account number titles to reflect the 2022 year, instructor name and carving item? If so, would this create a problem with QuickBooks?. That is to say, would QuickBooks only look at the account numbers for a year to year comparison and would this affect how Desktop closes out the fiscal year?
I apologize if I have not made myself clear.
Any suggestions/recommendations would be greatly appreciated!
Regards.
