We're glad you've posted here in the Community, Janet32. I'll provide details on setting up money in/out accounts in QuickBooks Desktop (QBDT).
When you create a company file, QuickBooks automatically generates accounts in your Chart of accounts (COA) based on your industry. You can modify these existing accounts or add new ones if you don't see the account you need.
It also displays your company's accounts and balances, allowing you to track how much your company has and owes and how much money comes in and out efficiently.
Moreover, it's best to consult your accountant for the best ideas on account setup. They have the expertise to tailor it to your business needs, ensuring accurate tracking and better financial management.
Additionally, I'll be sharing these articles to help you set up your accounts in QBDT:
Also, here are some resources to learn how to track customer transactions and process customer payments for invoices and in-person sales in QBDT:
You can always click the Reply button if you have questions about setting up accounts or other concerns in QBDT. I will always be here to help. Take care.
