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Super Explorer ***

Chart of Account numbering: Can I add decimal points or letters to account numbers?

When organizing the Chart of Accounts, can I use decimal points or letters as shown below.  The advantage would be that it's easier to create sub-accounts without reorganizing some of my account numbers and it also seems more organized to me.  Any drawbacks from using this system?  Any advice would be greatly appreciated!

 

1300 - Flip Properties (WIP)

      1301 - Flip Property #1

            1301.1 - Purchase Price

            1301.2 - Costs on HUD (Purchase)

            1301.3 - Costs During Ownership

            1301.4 - Costs on HUD (Sale)

 

-or with letters-

 

      1302 Flip Property #2 

            1302.a - Purchase Price

            1302.b - Costs on HUD (Purchase)

            1302.c - Costs During Ownership

            1302.d - Costs on HUD (Sale)

Solved
Best answer 06-28-2019

Accepted Solutions
QuickBooks Team

Re: Chart of Account numbering: Can I add decimal points or letters to account numbers?

Good day, @Real Estate Partners LLC,

 

You'll be glad to know that you can add a decimal point or letters to the account number on your Chart of Accounts. Simply edit the account number and enter the desired information.

 

Let me show you how:

  1. Go to the Lists menu, then select Chart of Accounts.
  2. Right-click the sub-account, then select Edit Account.
  3. Enter the account number in the Number field.
    accountnumber.PNG
  4. Click Save & Close to save the changes.
    sampleaccountnumbers.PNG

If you need to reconcile your bank, feel free to read through this article for the detailed steps: Reconcile bank and credit card accounts in QuickBooks Desktop.

 

Should you need anything else with your Chart of Accounts, please let me know and I'd be glad to help.

3 Comments
QuickBooks Team

Re: Chart of Account numbering: Can I add decimal points or letters to account numbers?

Good day, @Real Estate Partners LLC,

 

You'll be glad to know that you can add a decimal point or letters to the account number on your Chart of Accounts. Simply edit the account number and enter the desired information.

 

Let me show you how:

  1. Go to the Lists menu, then select Chart of Accounts.
  2. Right-click the sub-account, then select Edit Account.
  3. Enter the account number in the Number field.
    accountnumber.PNG
  4. Click Save & Close to save the changes.
    sampleaccountnumbers.PNG

If you need to reconcile your bank, feel free to read through this article for the detailed steps: Reconcile bank and credit card accounts in QuickBooks Desktop.

 

Should you need anything else with your Chart of Accounts, please let me know and I'd be glad to help.

Super Explorer ***

Re: Chart of Account numbering: Can I add decimal points or letters to account numbers?

Thanks for the helpful reply!  Any drawbacks by doing it this way?  I haven't seen it done and just wondering if I'll eventually regret it because of something I haven't thought of. Any advice is appreciated, thanks!

Moderator

Re: Chart of Account numbering: Can I add decimal points or letters to account numbers?

Thanks for getting back and clarifying your worries about the steps, Real Estate Partners LLC.

 

The only drawback that I can think of the steps is you'll need to edit each account if you want to change the number sequence. Other than that, everything else should be working as designed.

 

I hope this ease your thoughts of following the steps that MaryLandT provided. Let us know if you have other questions.