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Looking for an article about the effective use of subaccounjts in the Chart of Accounts.
Solved! Go to Solution.
Thanks for allowing us to help you regarding the subaccounts in the Chart of Accounts in QuickBooks Online (QBO), @Rozmore13.
In QBO, a subaccount allows you to break down an account into smaller accounts to track detailed income, expenses, and other account types. It is a helpful way to add more specificity to your financial reporting and ensure accurate tracking of different types of transactions. Also, note that you can create up to five subaccounts under one parent account in QBO.To get started in creating a subaccount, you can follow the steps below on how:
To proceed with the detailed steps, I recommend visiting this link as your guide: Create subaccounts in your chart of accounts in QuickBooks Online.
Moreover, use this article to have a reference in understanding more regarding your accounts in QBO:
If you still have more questions about subaccounts in QBO, don't hesitate to reply. I'll be more than happy to accommodate you. Have a good one!
My main goal is to keep your Chart of accounts organized, Flopbot. I'm here to clear up any confusion about creating subaccounts.
QuickBooks Online allows you to add more than five (5) subaccounts under one main account. However, you can only create up to 5 sub-account levels (including the parent). For visual reference (what I'm referring to), I've added a screenshot below.
If you want to create additional subaccounts, I suggest browsing this article to learn more about the process: Create subaccounts in your Chart of accounts in QuickBooks Online.
Moreover, I've added several resources you can visit to keep your Chart of accounts organized:
Finally, it is important to monitor the usage limits of your QuickBooks Online account to determine the maximum number of things, like users, accounts, or tags, you can add to the program (this depends on your subscription).
You can always get back on this thread if you need assistance creating accounts, tracking transactions, or running financial reports. I'm ready to help you out.
Thanks for allowing us to help you regarding the subaccounts in the Chart of Accounts in QuickBooks Online (QBO), @Rozmore13.
In QBO, a subaccount allows you to break down an account into smaller accounts to track detailed income, expenses, and other account types. It is a helpful way to add more specificity to your financial reporting and ensure accurate tracking of different types of transactions. Also, note that you can create up to five subaccounts under one parent account in QBO.To get started in creating a subaccount, you can follow the steps below on how:
To proceed with the detailed steps, I recommend visiting this link as your guide: Create subaccounts in your chart of accounts in QuickBooks Online.
Moreover, use this article to have a reference in understanding more regarding your accounts in QBO:
If you still have more questions about subaccounts in QBO, don't hesitate to reply. I'll be more than happy to accommodate you. Have a good one!
ThANK-YOU
Thank you for coming back to the Community, Rozmore13.
It's great to learn that the solution shared by my colleague regarding the effective use of sub-accounts has addressed your concern. Your input serves as a motivation for us to consistently deliver the best resolution to our customers.
Aside from posting questions, you can also share your best practices about the product and converge with other users. You can make use of these resources for future reference to effectively manage your accounts and choose the suitable category:
Don't hesitate to visit the Community again if you have other concerns or questions about managing accounts in the chart of accounts. I'd be delighted to provide the assistance you need. Enjoy the rest of the day, Rozmore13.
Has the limit of 5 subacounts under one account been lifted? I just created a sixth (6) subacount under a main account.
My main goal is to keep your Chart of accounts organized, Flopbot. I'm here to clear up any confusion about creating subaccounts.
QuickBooks Online allows you to add more than five (5) subaccounts under one main account. However, you can only create up to 5 sub-account levels (including the parent). For visual reference (what I'm referring to), I've added a screenshot below.
If you want to create additional subaccounts, I suggest browsing this article to learn more about the process: Create subaccounts in your Chart of accounts in QuickBooks Online.
Moreover, I've added several resources you can visit to keep your Chart of accounts organized:
Finally, it is important to monitor the usage limits of your QuickBooks Online account to determine the maximum number of things, like users, accounts, or tags, you can add to the program (this depends on your subscription).
You can always get back on this thread if you need assistance creating accounts, tracking transactions, or running financial reports. I'm ready to help you out.
Thank you @CharleneMaeF ! Just so I undersand, I don't see any way to delete a subacount once I've created it. Correct?
I can rename it. I can move it around between different levels of subacounts. I can deactive it. But, I can't delete it. Do all these sound correct?
Hi, Flopbot! Thanks for coming back to the thread. Let me provide some clarification about managing your accounts in your Chart of Accounts (COA) in QuickBooks Online.
First of all, yes, you can rename the accounts in the COA by clicking the Edit button. You can refer to the screenshot below for guidance.
You can also move it around between different levels of subaccounts, depending on your business needs.
Additionally, you can make a subaccount inactive by clicking the dropdown arrow beside the View register button. Then, select Make inactive.
Lastly, the option to delete an account in the COA is unavailable. This is true for both parent and subaccounts. Instead, you can merge accounts together by editing the Account name into the same one.
For more information on managing your accounts, check out this helpful resource: Make an account inactive on your chart of accounts in QuickBooks Online.
For future use, here's a guide on ensuring your QuickBooks accounts match your real-life bank statements: Reconcile workflow.
Shoot me a reply if you have other questions about organizing your COA in QuickBooks. I'll be right here ready to assist you. Keep safe!
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