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illumecommunications
February 25, 2022
Question

How to assign a bank transaction to a specific chart of accounts?

  • February 25, 2022
  • 1 reply
  • 0 views
Every payment I receive flows into one account, but a portion of that money is set aside for one specific client. I created a chart of accounts for the client. Now I need to record an expense for that chart of account. How do I that? Right now, it's only showing as an expense from my checking account register. I want to see the balance in the client's chart of accounts go down with the expense.

1 reply

K
Kurt_M
February 25, 2022

Welcome to the Community, @illumecommunications. I'll help you proceed to create an account to record your expenses here in QuickBooks Online (QBO).

 

In QuickBooks, you can add an account to your chart of accounts and customize it to your specific needs. To begin, these are the steps:

  1. On the left navigational bar, go to the Accounting tab and then select Chart of Accounts.
  2. Click New in the upper-right hand corner.
  3. Select Expense or Other Expense for Account Type.
  4. Choose a Detail Type.
  5. Enter the name of the new expense category.
  6. Type in all other details such as Number or Description.
  7. Click Save and Close.

For an instructional video, you can refer to this article about how to Add an account to your chart of accounts in QBO.

 

I'll be adding a link here where you can look for an article that can assist you if you require any information or procedures when using QuickBooks Online. Help articles.

 

Additionally, I'll be leaving these articles to help you in the future:

Always know that you can get back to me in case you have further questions about this. I'd be more than happy to provide additional assistance anytime. Keep safe and enjoy the rest of the day!

 

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