Learn how the chart of accounts works in QuickBooks Desktop.
The chart of accounts lists all your company's accounts and their balances. QuickBooks uses this list to track funds, debts, money coming in, and money going out.
Each account has a transaction history that you can view in the register. You can also run a quick report for details.
Note: If you have QuickBooks Online, learn more about the chart of accounts in QuickBooks Online.
Account types on the chart of accounts
Your chart of accounts gives you different account types to categorize transactions:
- Assets: Purchases for things like vehicles, equipment, and buildings used for your business.
- Liabilities: Funds you owe but haven't paid yet.
- Income: Sales transactions for products or services sold.
- Expenses: Costs for business operations, like advertising and promotion, office supplies, and rent.
Open your chart of accounts
Select Company, Lists, or Accountant and then Chart of accounts.