How to Change/Edit Chart of Accounts - QBO

You've come to the right place for help, @jiwonstr. First off, I would like to thank you for choosing QuickBooks Online to help your business grow.

I have all the steps needed to help you add or delete accounts in Chart of Accounts.

QuickBooks automatically adjusts your chart of accounts based on your business entity when you establish your company file. When it comes time to file your taxes, it helps to have your chart of accounts tidy. You can add new accounts. If you ever need to keep track of different kinds of transactions 

Here's how:

Add new account:

1. Go to Settings ⚙ and select Chart of accounts.
2. Select New in the top right corner.
3. Click on the Account Type drop-down to select the account type.
4. Select the Detail Type to specify the type of account that you want to add.
5. Enter the name of the account in the Name field.
6. You have the option of including information in the Description field and an amount in the Balance field.
7. Click Save and Close.

Additionally, we can delete accounts in QuickBooks Online that are no longer in use. Worry not, because deleting accounts won't remove your transactions from your reports. Also, you always have the choice to recover deleted accounts.

To delete an account, here’s what you’ll need to do:

1. Click on the gear icon at the top.
2. Under Your Company section, select Chart of Accounts (COA).
3. Look for the account that you want to delete.
4. In the Action column, choose the drop-down then click Delete.
5. Click Yes when asked if you want to delete.

Once you delete an account, it will be removed in the Chart of Accounts. The good thing is, you can filter the COA page to include inactive or deleted accounts. For detailed steps, here’s how:

1. Click Accounting from the left menu.
2. Click the gear icon above the Action column.
3. Put a checkmark in the Include inactive box.
4. Once done, search the deleted account in the search bar.

That is all there is to it, jiwonstr. I am also sharing these articles with you for more detailed information about the steps provided above: 

• Make an account inactive on your chart of accounts in QuickBooks Online 
• Add an account to your chart of accounts in QuickBooks Online

You may also want to visit this link to find out which default or special accounts can be deleted, edited, or merged in QuickBooks Online: Manage default and special accounts in your QuickBooks Online chart of accounts

Please feel free to get back to me here if you require further clarification regarding this topic. It's always my pleasure to assist you in managing your books. Thanks for dropping in, and cheers for more success!

Hello 

I do not have an option on 'Account Type' and the drop-down menu.  Once I click 'NEW', it pops up 'Category Type' and I can create a category under 1) income 2) expense 3) other income 4) other expenses.  Only these four options.

I have not linked my bank account, perhaps this is the reason?

Thanks for keeping in touch with us @jiwonstr. Getting your task done is my main priority. 

Whether we link the bank or not, we can still create a new one. It is possible that you are using the lower QuickBooks Online version or the old interface. For me to lead you in the right direction, can you share a screenshot containing your QBO interface when creating a new account in the Chart of Accounts? 

The steps provided above apply to the higher versions. Let's take a look at this screenshot below to help you differentiate:

Moreover, I've included the steps for the older version of QBO, as well as picture for your reference:

1. In the left pane, click Accounting.
2. Then Chart of Accounts.
3. Click the New button.
4. Fill in the necessary information.
5. Hit Save and Close

If you are not sure which Detail Type  to choose, I'd suggest working with your accountant to keep things accurate. See screenshot below:

Here are some resources for more information about managing the Chart of Accounts in QBO: 

• Learn about detail types in chart of accounts 
• Edit Your Chart of Accounts

That should answer your concern for today. Please let me know how it goes or if you're referring to something else by leaving a comment. I'm always here if you have additional or follow-up questions. Take care and have a great rest of the week.

I do not have option to save and close ,how do I save my changes

Hello @Cjsprin01, I'm here to assist you in setting up your Chart of Accounts (COA). Let's work together to ensure everything is accurately configured.

The steps and screenshot shown above are from a previous version of QuickBooks Online (QBO). As a result, the Save and Close option is not visible in your current version.

In the updated version of QBO, you can click on Save to keep the changes you've made to your COA:

1. Sign in to your QBO account.
2. Go to the Settings icon and select COA.
3. Click on the New button.
4. Enter the necessary information.
5. Once done, click Save.
   
   
   

It's best to consult an accountant or accounting professional to ensure everything you set up is suitable.

However, if the Save option is unavailable when creating an account in your COA, I recommend conducting some troubleshooting to see if the issue is connected to your regular browser. Regular browsers may display unexpected behaviors when interacting with QuickBooks due to cached data. Opening a private window can help bypass stored cache and create a fresh connection with QuickBooks.

These are the keyboard shortcuts:

• For Google Chrome browser: Ctrl + Shift + N
• For Mozilla Firefox browser: Ctrl + Shift + P
• For Safari browser: Command + Shift + N

If this works using an incognito, let's return to your regular browser and clear its cache to restore functionality. Consider switching to a different supported browser as an alternative.

If you're looking for guidance on which accounts to add to QuickBooks, consider connecting with our QuickBooks Live Expert Assisted team. Our specialists are ready to offer personalized support tailored to your unique needs.

Furthermore, if you decide to stop using a specific account in your COA, you can visit this article to help keep your COA streamlined and organized: Make an account inactive on your chart of accounts in QBO.

QuickBooks is constantly improving its features and interface to better serve our customers. If you have any additional questions about managing your COA, please don't hesitate to notify us. We're here to offer comprehensive support.