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January 26, 2022
Question

What does "Account" mean (for reporting purposes)?

  • January 26, 2022
  • 1 reply
  • 0 views
I am primarily interested in the way that income and expenses are categorized using the field labeled, "Account" in the bank register. But in reports, sometimes "Account" refers to the bank account(s). Sometimes, there is a filter by "Distribution Account" (which is the one I want to use) and other times, "Account" refers to a very limited list that does not include anything we've added (for our reporting purposes) to the "Chart of Accounts". So, I've spent the year using "accounts", or categories set up by my predecessors that have meaning to our organization, but it is extremely difficult to use them in reports.

1 reply

January 26, 2022

Hi there, @kristin-coursede.

 

An account is a record in an accounting system that tracks financial activities. This can either be system generated or manually created inside QuickBooks. Moreover, you use these accounts to categorize your transactions on everything from sales forms to reports to tax forms.

 

On other hand, Distribution accounts represent the activity of allocations made during a reporting period. 

 

To get more details, feel free to skim through these articles:

 

 

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!