I’d like to address your concern regarding the purchase account in the chart of accounts and provide some clarification, Shelly.
In QuickBooks, the chart of accounts includes several types of accounts, such as:
- Assets
- Liabilities
- Equity
- Income
- Expenses
To create a new account expense/purchase account, follow these steps:
- Go to Settings ⚙ and select Chart of accounts.
- Select New.
- Enter an Account name.
- Choose an Account type, and then choose the Detail type from the dropdowns.
See this article for the complete details in setting up an account in your charts of accounts: Add an account to your chart of accounts in QuickBooks Online
If you're specifically looking to create a purchase order (PO) this feature is not found in the charts of accounts. Instead, you can make a purchase order by Clicking the +New icon in QuickBooks.
After completing your COA in QuickBooks, you can connect your bank and credit card to automatically bring in your transactions. All you have to do is review, categorise, and approve them. For the detailed steps, you can check out this article: Connect bank and credit card accounts to QuickBooks Online.
We understand how important it is for you to find the right accounts and features. If you need further assistance with your purchase orders or any other aspects of QuickBooks, please don’t hesitate to reach out.
