Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
posted
Aside from the Class and Location tracking features, you might also consider creating separate accounts or sub-accounts for each income source. Let me provide additional details about this, Hulya.
Once set up, you can link them to the specific product or service items associated with your projects. For instance, you could set up one account exclusively for ticket revenue, another for sponsorship income, and a separate one for merchandise sales.
Let me guide you through the steps to create these separate accounts:
- Go to your Chart of Accounts.
- Click New in the upper-right-hand corner.
- Type in the account name.
- Choose Income or Other Income for Account type, then select a Detail type.
- Check the box for Make this a sub-account if you want to set it up as a sub-account.
- Click Save.
Next, create separate items and assign their respective income accounts. Here's how:
- Go back to the Gear icon and choose Products and services.
- Click New in the upper-right-hand corner.
- Choose the type of item that you need for each income source.
- Scroll down to the Income account and select the account that you created.
- Enter all other details, then click Save and close.
You can also take a look at these articles for additional details about this:
- Change the account for a product or service item
- Create subaccounts in your chart of accounts in QuickBooks Online
After recording all sales transactions, you can see a breakdown of sales from each source when running your Profit and Loss report.
Just in case you need additional resources about project management and handling sub-accounts, I'll share these articles as well:
- Change sub-customers into projects
- Change the account type of an existing parent account or subaccount
Should you require further guidance in selecting appropriate income and expense accounts for project-related transactions, our QuickBooks Live Expert Assisted Team is at your disposal, offering tailored support.
Please feel free to reply or reach out any time you need further assistance with recording sales transactions, managing projects, or any other QuickBooks Online tasks. The QuickBooks Team is available round-the-clock to address any questions or concerns you might have.
