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David1551
Level 1

I'm trying to create a new parent account "tools" but am only able to find "tool rental". How do I set up new/different parent accounts?

 
1 Comment 1
MichaelDL
QuickBooks Team

I'm trying to create a new parent account "tools" but am only able to find "tool rental". How do I set up new/different parent accounts?

The Community has your back, @David1551.

 

QuickBooks Online offers a great variety of Account Types and Detail Types when creating new ledger accounts. Since the specific Tools category you're looking for isn't listed, you can utilize one the Other (Miscellaneous) types and then use your naming/account number scheme to further organize the Chart of Accounts. I'll guide you through doing so below:

 

Creating a New Parent Account

  1. From QuickBooks Online, click the Gear icon (⚙) and select Chart of Accounts.
  2. Click New ▼. Select the Account Type that most closely relates to the account you're trying to create. If you're looking to record the asset value of Tools, select Other Assets to access a miscellaneous Detail Type.
  3. If none of the offered Detail Types work for what you're trying to record, select Other Long-term Assets.
  4. Enter a Name and Account Number to further classify the new account.

For more information on this, please check out our awesome guide on creating new parent accounts in QBO. I'm also including a quick video example in which I create a new account below:

 

This puts all the control you could ever need for classifying parent ledger accounts right at your fingertips. Please don't hesitate to keep in touch with me here should you need any additional assistance, I'm always happy to lend a hand. Thanks for dropping in, wishing you and your business great success in all that you do.

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