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April 8, 2023
Question

Hello i hope have a good dayplease tell my how can i create sub account for inventory or sub account to fixed asset?

  • April 8, 2023
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1 reply

MariaSoledadG
April 8, 2023

Let me guide you on how you can create a sub-account for inventory and for fixed assets, Muhammad.

 

Sub-accounts are often used to help keep track of expenses when several activities are funded by the same account or the same sub-account. You can follow the steps below on how you can create a sub-account. To do so, I've outlined the steps below:

 

  1. Go to the Gear icon ⚙ and select Chart of accounts.
  2. Select New.
  3. Select the account type and detail type. You can learn more about account types and detail types if you have questions.
  4. Select Is sub-account and then enter the parent account.
  5. Give your new subaccount a name. You can also add a description.
  6. For the as-of-date, tell QuickBooks when you want your account to start. Then add the Balance to the account as of the date you choose.
  7. Select a Default Tax CodeNote: Only some account types need this, like a bank, credit card, asset, and liability. If you need help, you can learn more about opening balances.
  8. Click Save and Close.

 

To learn more on how you can keep track of your chart of accounts organised and inactivate accounts that are no longer in use, checked out this article for your guide: Make An Account Inactive On your Chart of Accounts In QuickBooks Online.

 

Fill me in if you have questions about creating sub-accounts. I'll always be right here to help you anytime.