Re-arranging chart of accounts

Deadwood Al · ‎February 02, 2024

QBDT Pro+ 2023

I haven't had any responses from the last few submissions ... I hope my questions are getting thru???

The COA where I am now is poorly designed ... some accts with #'s, some not, organizationally it's a bit whacky in that like accounts are not necessarily all grouped together, etc. So I want to rearrange the numbers into a logical sequence and give numbers to all active accounts. But as I begin I have some questions.

Big Red Consulting ... are you online? Need your wisdom.

?? If an account is currently identified as a sub-account of another, can it be moved to become either an independent account or a sub-account of a different account?

?? Can there be multiple levels of sub-accounts?

?? I am used to calling things like AR and AP "Control Accounts, and having them restricted from use in everyday transactions other than Invoicing and Payment receipts in AR or Bills and Payments in AP. But I get no results talking about them when I do a search in QB for Control or Control Accounts. I don't know what QB calls these accounts but I'd like to know if they can be restricted in QB for anything other than like what I have mentioned and GJE done in accounting. It would also be helpful to know what QB calls these accounts.

?? If multiple accounts were identified at original setup as AR or AP, but should not be classified that way, can the "Type" be changed to "Other Current (Assets or Liabilities)? Or is it better to create new accounts classified correctly, adjust out the balances to the new accounts, and then inactivate the accounts with the wrong type?

?? On our current version (Pro+) we are allowed 3 users. Premier allows 5 users, plus it has a "Non-Profit" business type available. How difficult is a transition from one QB level (Pro+) to another (Premier)?

Related question: In looking online, it appears to say that QBDT (Pro and Premier) are being discontinued and only Enterprise will be offered in the future. Is this true? The cost of Enterprise is significantly higher than Pro or Premier. I've used Enterprise and I'm not complaining about the features, but a non-profit has to be very cautious about costs, and I'm not sure Enterprise fits in our budget.

BigRedConsulting · ‎February 02, 2024

@Deadwood Al

RE: If an account is currently identified as a sub-account of another, can it be moved to become either an independent account or a sub-account of a different account?

Yes. One way is to edit it and modify the subaccount section:

RE: Can there be multiple levels of sub-accounts?

Yes, up to 5.

RE: I am used to calling things like AR and AP "Control Accounts, and having them restricted from use in everyday transactions other than Invoicing and Payment receipts in AR or Bills and Payments in AP. But I get no results talking about them when I do a search in QB for Control or Control Accounts.

The types of transactions you can use with AP and AR accounts are restricted.

RE: I don't know what QB calls these accounts but I'd like to know if they can be restricted in QB for anything other than like what I have mentioned and GJE done in accounting. It would also be helpful to know what QB calls these accounts.

AP and AR accounts are of the account type "Accounts Payable" and "Accounts Receivable".

RE: If multiple accounts were identified at original setup as AR or AP, but should not be classified that way, can the "Type" be changed to "Other Current (Assets or Liabilities)?

No.

RE: Or is it better to create new accounts classified correctly, adjust out the balances to the new accounts, and then inactivate the accounts with the wrong type?

I'm not sure why all that would be helpful? You can merge the multiple AR and AP accounts together into one and rename them as needed.

RE: On our current version (Pro+) we are allowed 3 users. Premier allows 5 users, plus it has a "Non-Profit" business type available. How difficult is a transition from one QB level (Pro+) to another (Premier)?

The file formats are the same. If Pro and Premier are the same version year, you can open the same file in both, going back and forth as needed.

RE: Related question: In looking online, it appears to say that QBDT (Pro and Premier) are being discontinued and only Enterprise will be offered in the future. Is this true?

Yes, you have until July to buy Pro or Premier 2024. Intuit will support 2024 for several years.

View solution in original post

Deadwood Al · ‎February 02, 2024

@BigRedConsulting .... hoping you can provide some insight.

KayePe · ‎February 02, 2024

Hello there, @Deadwood Al. Let me give you insights regarding your concerns when utilizing your QuickBooks Desktop (QBDT).

It is important to note that in QBDT, sub-accounts are only available as a system default and will displayed under their respective parent account. It is not possible to create different levels of sub-accounts in QBDT.

In managing your financial transactions, invoices and payments are automatically posted in the Account Receivable, while Accounts Payable is for bills and payments. There is no need to manually restrict the transactions to a specific account since QuickBooks automatically posts them in the appropriate account.

Consult your accountant regarding the "type" of accounts, assets, and liabilities. They can help you understand how to effectively categorize your financial data and ensure accurate record-keeping for your business.

If you are currently using QuickBooks Desktop Pro and are planning to upgrade to QuickBooks Desktop Premier, you can transition your version by switching to QBDT versions without uninstalling. However, it is essential to note that QBDT 2021 services will be discontinued after May 31, 2024, which include QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v21. Therefore, I recommend upgrading your desktop to a newer version to ensure uninterrupted access to all your saved business data and information within QuickBooks.

Moreover, you can also visit this link as your guide in the future for fixing some issues with your company files in QBDT: Verify and Rebuild Data in QuickBooks Desktop.

Reply to this post for more questions about handling your business inside QBDT. I'm here to help. Take care!

BigRedConsulting · ‎February 02, 2024

@Deadwood Al

RE: If an account is currently identified as a sub-account of another, can it be moved to become either an independent account or a sub-account of a different account?

Yes. One way is to edit it and modify the subaccount section:

RE: Can there be multiple levels of sub-accounts?

Yes, up to 5.

RE: I am used to calling things like AR and AP "Control Accounts, and having them restricted from use in everyday transactions other than Invoicing and Payment receipts in AR or Bills and Payments in AP. But I get no results talking about them when I do a search in QB for Control or Control Accounts.

The types of transactions you can use with AP and AR accounts are restricted.

RE: I don't know what QB calls these accounts but I'd like to know if they can be restricted in QB for anything other than like what I have mentioned and GJE done in accounting. It would also be helpful to know what QB calls these accounts.

AP and AR accounts are of the account type "Accounts Payable" and "Accounts Receivable".

RE: If multiple accounts were identified at original setup as AR or AP, but should not be classified that way, can the "Type" be changed to "Other Current (Assets or Liabilities)?

No.

RE: Or is it better to create new accounts classified correctly, adjust out the balances to the new accounts, and then inactivate the accounts with the wrong type?

I'm not sure why all that would be helpful? You can merge the multiple AR and AP accounts together into one and rename them as needed.

RE: On our current version (Pro+) we are allowed 3 users. Premier allows 5 users, plus it has a "Non-Profit" business type available. How difficult is a transition from one QB level (Pro+) to another (Premier)?

The file formats are the same. If Pro and Premier are the same version year, you can open the same file in both, going back and forth as needed.

RE: Related question: In looking online, it appears to say that QBDT (Pro and Premier) are being discontinued and only Enterprise will be offered in the future. Is this true?

Yes, you have until July to buy Pro or Premier 2024. Intuit will support 2024 for several years.

BigRedConsulting · ‎February 02, 2024

@KayePe

RE: It is important to note that in QuickBooks Desktop (QBDT), sub-accounts are only available as a system default...

A "system default"? Sub accounts are available to everyone all the time and any time.

RE: It is not possible to create different levels of sub-accounts in QBDT.

Of course it is. You can create up to 5 levels of sub-accounts.

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