Learn how to set up and add accounts to your chart of accounts.
The chart of accounts is a list of all of your accounts in QuickBooks. When you create your company file, QuickBooks automatically customizes your chart of accounts based on your business entity. Keeping your chart of accounts organized helps you when it’s time to file your taxes.
You can add more accounts anytime you need to track other types of transactions. Here's how to add more accounts to your chart of accounts.
Note: For some QuickBooks accounts in business view, you can’t add parent accounts to your chart of accounts, but you can create new subaccounts instead. This is by design to help you stay tax compliant. But, if you still need to add a new parent account, you can do so by switching to accountant view first.
Add a new account to your chart of accounts
- Go to Settings ⚙ and select Chart of Accounts.
- Select New to create a new account.
- In the Account window, select the Account Type ▼ dropdown. Then choose an account type.
Note: if you see the New category window instead of the Account window, you’re creating a subaccount under a premade parent account. If you need to create a new account type, switch to accountant view.
- In the Detail Type ▼ dropdown, select the detail type that best fits the transactions you want to track. Learn more about detail types.
- Give your new account a name. Tip: Use the detail type description to create a name that describes what you're tracking.
- Add a description.
- If this is a subaccount of an existing account, select Is sub-account and then enter the parent account. Learn more about parent accounts and subaccounts.
- Now let's make sure the account in QuickBooks matches your actual bank or credit card account. Choose when you want to start tracking your finances. In the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
- When you're done, select Save and Close.
You can also add a new account while recording an invoice, check, bill, or other transaction. While you're in an open form, select the Category ▼dropdown and then + Add new.
Learn more about keeping your chart of accounts organized with parent accounts and subaccounts.
Learn about chart of accounts usage limits
If you see a message about usage limits, you've reached the maximum number of accounts allowed for your current QuickBooks plan. If you have accounts you no longer use, make them inactive so you can add new ones. Learn more about usage limits.