Hi there, Steve. Yes, QuickBooks Online (QBO) Advanced includes deferred revenue in the Chart of Accounts. Let me provide more details on this.
If you're referring to managing and tracking advance payments for services or goods to be delivered in the future, the Deferred Revenue account is pre-built into your QBO Advanced system to help you. Here's how to access and manage the account:
- Click on Transactions from the left-hand sidebar.
- Select Chart of Accounts.
- In the Chart of Accounts, search for the Deferred Revenue account.
- You can find a dropdown arrow next to it. From here, you can view the Account history, Edit, Make it Inactive, or Run a Report on this account.
I'll include these helpful articles that contain more feature information on QBO Advanced as well as the accounts that QuickBooks sets up for you:
Furthermore, to help you keep your chart of accounts organised and create more detailed reports, feel free to learn about creating subaccounts: Create subaccounts in your chart of accounts in QuickBooks Online.
Please don't hesitate to come back to the thread if you have additional queries or need further assistance in setting up your Advanced account. We'll gladly loop back and provide you with assistance anytime. Take care.
