Suggestions on how best to handle the following in Quickbooks desktop. Our organizations puts on a demonstration each year with multiple instructors.
We wish to assign both income and expenses specific to each instructor. As instructors and their subject material change from year to year the names assigned to the respective account will change accordingly. If I set up an account for each instructor by name for 2021 then I can't use those same account numbers in 2022 and so on. What I have done for this year 2021 is used an existing account 47250 (5 digits) and created sub-accounts (6 digits) and used the same rationale for 2022 as follows:
47250 Workshop Fees
472501 2021 Instructor ABC
472502 2021 Instructor DEF
472503 2021 Instructor GHI
472504 2022 Instructor ABC
472505 2022 Instructor DEF
472506 2022 Instructor GHI
Expenses have been set up the same way.
Is this the best way to handle this or are there better ways. Your assistance is most appreciated.
