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kitikati
Apr 26, 2018 12:49 PM UTC
Solved

Chart of accounts

Why is there no option "Bank" in the chart of accounts category type ?

kitikatiAnswer
Apr 28, 2018 9:31 AM UTC

I can certainly see the benefit of such a change. I will feed this back. If you could also use our Feedback option under the Gear icon to do the same as this will send the request to our Product Development team from the customer prospective and help in getting the updates introduced as quickly as possible.


Thanks i have sent the feedback.

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9 replies

Anonymous
Apr 26, 2018 1:40 PM UTC

Hey @kitikati,

 

Thanks for joining our Community.

 

I can help you here. You can set up a bank account by clicking on the New option in the top right within the Chart of Accounts screen.

 

When the Account creation pop up appears, select Cash at bank or in hand for the Account Type field and then on the Detail Type field, click on the drop down menu to select the option for Current.

 

This will give you a bank account within your Chart of Accounts for your day to day transactions.

 

Let me know if you need anything further.

kitikatiAuthor
Apr 26, 2018 1:43 PM UTC

Thanks for your reply.

I find it odd that these is no "Bank" option? Is it just something we have to live with using QBO in the UK ? When watching you tube videos it looks like there is the Bank option in the US ?

Anonymous
Apr 26, 2018 1:53 PM UTC

Hey Kitikati,

 

I understand the confusion however this is purely down to the terminology used in the US vs that used in the UK.

 

US customers use the term bank or checking account, whereas UK customers favour Current account. As the term bank account is interchangable with Current or Savings account in the UK, QuickBooks separates these detail types for you.

 

The videos that are posted to our YouTube channel do originate from our US product, however I will feed this back as a update request so that they appear more specific to the UK region.

 

 

AshBeetson
Sep 20, 2018 3:08 PM UTC

There has always has been Bank as a chart of account type.  When creating a new account type, "Cash at bank and in hand" is the main type, followed by a detailed type which can be current, savings, cash on hand, trust.  I hope this helps.

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