Sending good vibes to you, BK36.
Creating a new account in QuickBooks Desktop is quick and easy. You can follow the step-by-step process below:
- Click Lists at the top menu bar and choose Chart of Accounts.
- From the Chart of Accounts screen, right-click and select New.
- Choose the Account Types and click Continue (see sample screenshots below).
- Enter the Account Name and hit Save and Close.
Once done, you can create a bank transfer to move the money from the old account to the new one. Here's how:
- Click the Banking Menu at the top menu bar and choose Transfer Funds.
- From the Transfer Funds From the drop-down, choose the old account.
- Select the new account on the Transfer Funds To drop-down.
- Enter the transfer amount.
- Click Save and Close.
Please be reminded that transferring the money within QuickBooks doesn't transfer the real funds in the account. This is for recording purposes only. You'll need to process the transfer through the actual bank.
Regarding the Profit & Loss, you can only generate one report for both accounts. I recommend customizing the report to get the specific details you need. You can also memorize it to save its current customization settings. It serves as your record and helps you quickly access it for future use.
Keep in touch if you need any more assistance with this, or if there's something else I can do for you. I've got your back. Have a good day and keep safe, BK36.