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I need to set up a second A/R to track external invoicing software app. I will do this with Journal entry. Should the new A/R be sub of default A/R, or separate acct?

I lean towards making it a sub-account so that A/R can appear as one line on reports, but this goes against my convention of never having a balance in a parent account when there are sub-accounts - due to risk of duplication.
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Best answer August 04, 2020

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QuickBooks Team

I need to set up a second A/R to track external invoicing software app. I will do this with Journal entry. Should the new A/R be sub of default A/R, or separate acct?

Hi LaterWhen,

 

It's great you're using an external invoicing software app and wanting to track your information in QuickBooks Online. Having everything correctly set up is important to keep your books accurate and organized. I'll be happy to share more on this.

 

Once you create your QuickBooks Online account, a chart of accounts is automatically set up for you to help you organize your transactions. In some cases, you might need to add more accounts to the default set up as displayed in this article: Add an account to your chart of accounts in QuickBooks Online

 

Since you're planning to use journal entries to track your transactions on your second A/R account, it might be a good idea considering setting it up as a parent account. Having it as a sub-account to the default A/R would most likely require you to always include a client before saving your transaction. If you're looking for a full manual tracking and control, I'll recommend having your second A/R as a parent account. I also encourage you to talk to your accountant to determine the best way to set up your second A/R. They are great resources to ensure your books are set up accurately for your business needs. In case you don't have an accountant, you can find one on our Find-a-Proadvisor website

 

I hope this helps! Have a great day.  

View solution in original post

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Highlighted
QuickBooks Team

I need to set up a second A/R to track external invoicing software app. I will do this with Journal entry. Should the new A/R be sub of default A/R, or separate acct?

Hi LaterWhen,

 

It's great you're using an external invoicing software app and wanting to track your information in QuickBooks Online. Having everything correctly set up is important to keep your books accurate and organized. I'll be happy to share more on this.

 

Once you create your QuickBooks Online account, a chart of accounts is automatically set up for you to help you organize your transactions. In some cases, you might need to add more accounts to the default set up as displayed in this article: Add an account to your chart of accounts in QuickBooks Online

 

Since you're planning to use journal entries to track your transactions on your second A/R account, it might be a good idea considering setting it up as a parent account. Having it as a sub-account to the default A/R would most likely require you to always include a client before saving your transaction. If you're looking for a full manual tracking and control, I'll recommend having your second A/R as a parent account. I also encourage you to talk to your accountant to determine the best way to set up your second A/R. They are great resources to ensure your books are set up accurately for your business needs. In case you don't have an accountant, you can find one on our Find-a-Proadvisor website

 

I hope this helps! Have a great day.  

View solution in original post