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Setting up a not for profit chart of accounts and need clarification on how the sub-account setup works? Thank you

 
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QuickBooks Team

Setting up a not for profit chart of accounts and need clarification on how the sub-account setup works? Thank you

Hi there, 

 

In QuickBooks Online, you can create sub-accounts to break down your expenses, income, and more into greater detail. For example, you can divide your utilities account into sub-accounts, so you can track different types of utility payments, like gas, telephone, water, and so on. 

 

You can create sub-accounts of any main (or “parent”) account.  Use them to keep your chart of accounts organized and make more detailed report. 

 

Here's a helpful article that explains how you can add a sub-account: Create sub-accounts in your chart of accounts in QuickBooks Online.

 

This article should provide all the information you need. If you still need a hand in order to get back on track, please reach out to our tech support team

 

Cheers. 

 

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Level 1

Setting up a not for profit chart of accounts and need clarification on how the sub-account setup works? Thank you

Thank you. I am setting up a not for profit chart of accounts and am trying to figure out the best way to setup the expense side of the COA that relates to each of the funding streams so that I can report P&L's by individual funding streams. Trying to avoid, if possible, setting setting up individual expense accounts (same accounts ie Office Expenses Funding 1, Office Expenses Funding 2, etc)  for each funding stream. Can I use sub-accounts or track categories, or some other means to accomplish this?