Location Tracking with New Chart of Accounts

Hi there, @lybtreasurer45036. Thank you for reaching out to us. I understand the importance of maintaining separate accounts for different divisions/locations, and rest assured that I'll guide you through the process while ensuring your current location's chart of accounts and fiscal year remain unaffected.

Since you want to have another set of Chart of Accounts in a different location, you'll need to create two separate QuickBooks Online accounts to ensure accuracy and proper tracking of locations.

Here are the steps for creating a new account in QuickBooks:

1. Go to https://quickbooks.intuit.com/pricing/.
2. Choose the QuickBooks Online subscription you'd like to create with the other location.
3. Enter all the required information. 
4. Add the details of your new account.
5. Once done, click All set.

Alternatively, you have the option to utilize the Location Tracking functionality, which aids in categorizing your data based on various locations, offices, or departments within your organization. This feature enables you to monitor your revenue, expenditures, and overall net income on a per-location basis. I would be more than happy to provide further elaboration on this topic.

To start, we'll have to turn on location tracking from the Account and Settings page.

1. Go to the Gear icon and then select Account and Settings.
2. Select the Advanced tab, then choose the Categories section to edit.
3. Turn on Track location.
4. Select Save, then Done.

After which, let's add the list of locations:

1. From the Gear icon, select All Lists.
2. Select Locations.
3. Click New, then add the Name of the location you want to track.
4. Click Save.

Once done, you can use these locations on your transactions and run the Profit and Loss by Location report to see your income and expense.

Additionally, here's an article that'll help you determine which default accounts in the Chart of Accounts are created for each business entity, and which accounts you can edit, merge, or make inactive: Manage default and special accounts in QuickBooks Online.

If you have any further questions or need additional support in setting up a new chart of accounts for your upcoming fiscal year and specific location, please don't hesitate to reach out to us. We value your business and are committed to providing you with the best possible service. Wishing you a successful and productive fiscal year ahead.

I'm not interested in signing up for another account and paying the fee. 

Let me ask you if this is an option:

Can I create additional "Chart of Accounts" in my current business account and only have those charts of account appear on the P&L report for the division in which they apply?  I have two divisions (locations). I've set those up and I can categorize transactions appropriately. But I don't want my P&L report to be full of charts of accounts that are not relevant to the other division.

Hello,

I appreciate you for getting back to us. Yes, you can create an additional account. I'm here to guide you through the steps and how you can show only specific accounts on the Profit and loss report.

Here's how to add an account manually:

1. From the Accounting tab, select Chart of accounts.
2. Click New.
3. Select the type of account.
4. Fill in the necessary details.
5. Click Save.

Then, to filter the report to only the specific accounts, you can click the Customize button. Here's how:

1. Click the Reports tab on the left.
2. Select Reports.
3. Enter and select Profit and Loss.
4. Click Customize.
5. Go to the Filter drop-down.
6. Tick the Distribution Account box.
7. Select the accounts that you want to display.
8. Click Run report.

As for adding different locations on another set of Chart of Accounts, I suggest sharing this product suggestion with our developer's team. You can do so by clicking the Gear icon, then selecting Feedback.

Also, if you want to manage financial reports by adding or removing some data, you can check this article: Customize reports in QuickBooks Online.

I'm always around whenever you have concerns with your financial accounts.

Adrian, I just signed up for QBO Advanced yesterday and was explicitly told by my sales rep prior to signing up that I could establish a separate chart of accounts and balance sheet for each location I create.  Reading your response above makes me think otherwise.  Can you clarify for us?

I have set up my 3 locations for my company within my file, but now I need to set the chart of accounts for each location.  I can't figure out how to do this.

I'd like to welcome you here, mglane55. I see that you're interested in having a separate Chart of Accounts for each location. Let me explain more about that feature and what it enables.

To clarify, the Location Tracking feature allows you to categorize data by location, office, region, outlet, or department.

However, there's no option to create a separate set of Charts of Accounts per location. 

Instead, you can assign a location when entering any transaction. This adds that extra bit of location detail to each transaction for easier reporting later on. So while you have a single overall Chart of Accounts, you'll still be able to pull reports by location based on having assigned that during data entry.

Some of the reports with pre-populated Location columns are: 

• Purchases by Location Detail
• Profit and Loss by Location
• Sales by Location Summary
• Sales by Location Detail

Other reports can also be customized to add a Location column. 

Aside from that, you can also create separate sales templates for each location. Let me share this article as a guide: Customize Sales Forms by Location in QuickBooks Online.

In summary, location tracking in QuickBooks Online can provide valuable insights into your business performance, helping you make data-driven decisions and improve your overall financial management.

Please don't hesitate to reach out again if any additional questions come up as you get started with QBO Advanced, mglane55. We want to provide you with all the support and guidance you need to successfully use this program. 

thanks for the reply.  I understand now, but your sales team is saying something that is explicitly different.  Please make sure they are stating accurate information when selling to new clients.  Had I known what you shared with me, I would not have signed up for this subscription.  I will be cancelling my subscription now.  Hopefully your company won't give me much trouble about refunding the fee.

Is this still unavailable to set up different chart of accounts for each location? I can see that reporting can be by location from a PL and BS perspective. However, we are moving from a legacy system over to QBO, I would like to be able to set up each location with its own beginning balances.

The feature to set up different charts of account for each location with its beginning balances is currently unavailable in QuickBooks Online (QBO), @jwiison46814. No worries, I'll provide a workaround for you.

You can utilize the Location Tracking feature to organize payments by location. This allows you to view amounts and accounts under each area. You can also add beginning balances for these accounts. Please note that this feature is exclusive for QBO Plus and Advanced subscriptions. 

Here are the steps on how to set up the location tracking feature:

1. From the Gear icon, choose Account and settings.
2. Choose the Advanced menu and proceed to the Categories section.
3. Click the pencil icon.
4. Turn on the Track Locations button and choose from the Location drop-down list.
5. Click Save, then Done.
   
   

After that, you can add the list of locations from the All Lists section.

1. From the Gear icon, choose All Lists.
2. Choose Locations.
3. Click the New button, then add the Name of the location.
4. Once done, click Save.

You can now use these locations for transactions or when running the Profit and Loss by Location report to track income and expenses.

Please reach out to us if you have any questions or concerns about using the tracking location feature, managing your chart of accounts, or anything else you need help with. We're always here to lend a helping hand.