Product development which chart of account?

You can use the payroll account in your Chart of Accounts (COA) in QuickBooks Online (QBO), @Hans1. This way, you'll be able to track the salary of your hired developers and monitor their bills. Let me share further details about this.

Yes, you're right. developing a product for your business is a long-term investment. Since you're hiring developers to make this happen, you can track their bills (salary) through a payroll account.

The QBO India software doesn't have a built-in payroll. However, you can use a third-party application to do it for you. The Paybooks Payroll Cloud Application and GreytHR are the payroll apps that work best with QuickBooks. They'll be able to handle your payroll's accounting process and automatically calculate salary.

You can integrate any of the mentioned payroll apps through the Apps menu. For the detailed steps, here's how:

1. Go to the Apps menu.
2. Type in either Paybooks or GreytHR in the search box.
3. Select the payroll app.
4. Follow the on-screen instructions to complete the process.

I've attached a screenshot below that shows the first to third steps.

Additionally, I'd also recommend consulting your accountant in categorising your developer bills under the appropriate account. This way, you'll be able to make sure your books are accurate and effectively manage your business expenses.

I'm also adding this article to learn more about how your COA organises your transactions on your reports and tax forms: Understand the chart of accounts in QuickBooks. It also includes information about the common task of COA and accounts that QuickBooks sets up for you to name a few.

Please let me know if you have other concerns. I'm just around to help. Take care always.