Hello there,
@girishk1963. Here’s what I know about this matter.
You have two options if you're using a single bank account for both personal and business transactions in QuickBooks Online (QBO). One is to set up a parent account with sub-accounts, and the other is to use the class tracking feature in QBO.
If you’re going for option 1 which is to create a parent account with sub-accounts, these are the steps:
- Go to the Gear icon and then select Chart of Accounts.
- Select New to create a new account.
- In the Account Type dropdown button, choose an account type.
- In the Detail Type dropdown, select the detail type that best fits the transactions you want to track. Learn more about
- Give your new account a name. You can use the detail type description to create a name that describe what you’re tracking.
- Add a description.
- Now let’s make sure the account in QuickBooks matches your real-life bank or credit card account. Choose when you want to start tracking your finances. In the Balance field, enter the amount in the account and then determine the as of date. Enter today’s date if you want to start tracking immediately.
- Once done, click Save and Close.
To create a sub-accounts in your chart of accounts in QBO, you can refer to this
article for the steps.
In case you’d like to try the second option, you’ll want to visit this
page first. It’s about getting started with class tracking in QuickBooks Online.
Additionally, I’ll be leaving these articles for more information.
Let me know if you have further questions about this. I'll keep an eye for your response. Keep safe and have a good one!
