Nested Charts Of Accounts - Is It Bad Practice?

This is absolutely correct to do. The main benefit of structuring the Chart of Accounts as you describe, is that *you* get to decide how information is grouped and subtotaled on reports, to make the information most useful to you.

@FTechThank you so much for the quick reply.

Yeah, I think the nested chart of accounts can be pretty powerful in reports. I wonder why this methodology is not being promoted as a recommendation or best practice (i guess in the name if keeping things simple)

The only problem I saw over the years is that our accountant was complaining that our P&L reports are too detailed. I wish there was a way to select how many nesting levels to include on the report rather than just Detail or Summary (all or nothing)

I have a nested chart of accounts however I am not seeing a way to import the nested chart of accounts.  Can anyone help me out?

Yes, we can help you out in importing your chart of accounts, kristine1991.

There are two ways to get to the import option for the chart of accounts. You can go to either of the following:

• the Chart of accounts page
• the Import Data option

Here' are the detailed steps:

1. Click Accounting on the left menu and select Chart of Accounts.
2. Click the drop-down arrow next to the New button.
3. Select Import.
4. From there, you can follow the import process.

Or

1. Click the Gear icon in the upper-right corner and select Import data.
2. In the Import Data page, click Chart of accounts.
3. From there, you can follow the import process.

You can also use this link on how to prepare and complete the import process: Move your chart of accounts to QuickBooks Online.

We'll be right here if you need additional assistance in importing the list. Have a great day!

This doesn't appear to allow for subaccounts of subaccounts (e.g. Expenses: Travel And Meals: Travel).

Good day, omnyacoustics.

Importing a nested chart of accounts is currently unavailable in QuickBooks. You'll need to manually add the sub-accounts of sub-accounts.

If you're using QuickBooks Desktop, here's how:
 

1. Click Lists at the top menu bar and choose Chart of Accounts.
   
2. From the Chart of Accounts screen, right-click and select New.
   
3. Chose the account type and click Continue.
4. Enter the Account Name, tick the box for Subaccount of and choose the sub-account from there.
5. Hit Save and Close.
   

If you're using QuickBooks Online, see the steps below
 

1. Click Accounting in the left panel and choose Chart of Accounts.
2. From the Chart of Accounts screen, click New.
   
3. Choose the Account and Detail Type.
4. Enter the name of the account in the Name field.
5. Mark the box for Is sub-account.
   
6. Click on Save and Close.

To know more about the chart of accounts in QuickBooks, you scan through the articles below. These will provide you steps on how to edit an account as well as delete them:
 

Create subaccounts in your chart of accounts in QuickBooks Online.
Add, edit, or delete accounts in QuickBooks Desktop.

Feel free to drop me a reply below if there's anything else I can help you with. I'd be more than willing to lend you a hand.