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elcoffice
Level 1

amend list of charts to include Special Funds that are part of the Chequing (Bank) but allow for income and espenxes

I am a small church organization.  Our list of Charts is basic - Chequing, Investments Income and Expenses ... However, we need to create 3 Special Funds within Chequing that allow for income and expenses to be post there rather than in Chequing.  If possible we would also like to move their investments out there as well.  But as it is all one bank account, they need to be taken in to consideration when reconciling .. any suggestions as to how that can be done.  thanks  (oh yes - nominal experience with Quick Books - self taught)

2 Comments 2
ZackE
Moderator

amend list of charts to include Special Funds that are part of the Chequing (Bank) but allow for income and espenxes

Thanks for getting in touch with the Community, elcoffice.
 

You can create subaccounts within a checking account and post income/expense transactions to it.
 

Here's how:

  1. In your top menu bar, go to Lists, then Chart of Accounts.
  2. Use the Account ▼ drop-down list and choose New.
  3. Pick a type.
  4. Hit Continue.
  5. Enter your account details.
  6. Tick the Subaccount of checkbox.
  7. From your Subaccount of ▼ drop-down, specify its parent account.
  8. Select Save & Close.


Now you can record transactions to the subaccount you created.
 

I've also included a couple detailed resources about working with your chart of accounts and reconciling which may come in handy moving forward: 


I'll be here to help if there's any questions. Have a great day!

elcoffice
Level 1

amend list of charts to include Special Funds that are part of the Chequing (Bank) but allow for income and espenxes

I will try this and see what happens .. I believe this is what I did before and it did not work .. I am part time so probably later this week I will have time to try this approach again.  Sylvia-Linda

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