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October 3, 2021
Question

Can I set up sub accounts in both the home and foreign currencies bank accounts?

  • October 3, 2021
  • 1 reply
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1 reply

October 3, 2021

Yes, you can set up the sub-accounts @cnrdso-gmail-com!

 

Let me walk you through the steps to set up a sub-account for your foreign currency bank accounts.

 

  1. Go to Accounting.
  2. Select Chart of Accounts.
  3. Click New.
  4. Under Account Type, select Bank.
  5. On the Detail Type menu, choose a category accordingly.
  6. Enter the name of your new subaccount.
  7. Choose a currency the same as the parent account.
  8. Put a checkmark on the Is sub-account selection.
  9. Select the foreign bank account.
  10. Click Save and Close.

 

I'm adding this article to learn more about how you can create a sub-account: Create Subaccounts in your Chart of Accounts in QuickBooks Online.

 

You may also read through this reference to understand more about your account with the transaction history and breaks down how much money you got: About the Chart of Accounts in QuickBooks.

 

It'll always be my pleasure to help if you have any other concerns besides managing your account. Please let me know by clicking the Reply button and leaving a comment below. Have a good one!