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PARKSG
July 13, 2021
Solved

How to set up "BANK" at ACCOUNT TYPE filed in the chart of account.

  • July 13, 2021
  • 1 reply
  • 0 views

Hi QB advisors,

 

I am a very new for QB so I would like to get your advice for settings. I've seen many tutorials and saw everyone sets as 'BANK' at the Account Type for bank accounts in the 'Chart of Accounts'. But I cannot set up as 'Bank' for my three bank accounts. Why I don't have it on the list? Any different version so do I need to choose current asset or cash & cash equivalents? Can anybody teach me, will be highly appreciated it!!  (I attached what is my question.) 

Best answer by Angelyn_T

Thank you for following up with us, @PARKSG. It's my priority to help you with setting up your bank account in QuickBooks Online (QBO) Singapore.

 

Yes, Cash and cash equivalents account type in QBO Singapore is the same as the Bank account type in QBO US. Therefore, you can use this type when adding your bank account to QuickBooks.

 

To learn more about handling your accounts in QBO, you can open these articles:

 

 

Aside from adding an account through the Chart of Accounts, you can also connect one from the Banking page. Once connected, the system will automatically download your recent bank transactions. Once downloaded, here's how you can review them: Categorise and match online bank transactions in QuickBooks Online.

 

If you have any other follow-up questions about adding your bank account to QuickBooks, let me know by adding a comment below. I'm more than happy to help. Keep safe!

1 reply

R
Ryan_M
July 13, 2021

I got your back on your query about adding a bank account to the Chart of Accounts in QuickBooks Online (QBO), @PARKSG.

 

The Bank account type is available for QBO Singapore. Since you don't see the option, I suggest you open your browser's private window first. This will allow you to isolate cache, which is usually the cause of unusual behaviors in browsers. 

 

  • Google Chrome: Ctrl + Shift + N
  • Microsoft Edge: Ctrl + Shift + P
  • Firefox: Ctrl + Shift + P
  • Safari: Command + Shift + N

 

If that works, go back to your regular browser and clear its cache. Otherwise, open an alternative browser that's available for you. 

 

When you're done creating the bank account, if you decide to sync your bank to QBO, follow the steps in this article: Connect bank and credit card accounts to QuickBooks Online.

 

Tag me in a comment below if you have other questions about creating accounts in QBO. I'll get back to you as soon as I can. Have a pleasant day!

P
PARKSGAuthor
July 13, 2021

@Ryan_M Hi Ryan, thanks for the reply indeed. Btw still I cannot see the option 'Bank' at the Account Type field. I opened at the private window and cleared all cache already. If I do not see the option what I should choose for the bank a/c? Current Assets or Cash Equivalents instead of Bank? Would appreciate your help very much!   

Angelyn_T
Angelyn_TAnswer
July 13, 2021

Thank you for following up with us, @PARKSG. It's my priority to help you with setting up your bank account in QuickBooks Online (QBO) Singapore.

 

Yes, Cash and cash equivalents account type in QBO Singapore is the same as the Bank account type in QBO US. Therefore, you can use this type when adding your bank account to QuickBooks.

 

To learn more about handling your accounts in QBO, you can open these articles:

 

 

Aside from adding an account through the Chart of Accounts, you can also connect one from the Banking page. Once connected, the system will automatically download your recent bank transactions. Once downloaded, here's how you can review them: Categorise and match online bank transactions in QuickBooks Online.

 

If you have any other follow-up questions about adding your bank account to QuickBooks, let me know by adding a comment below. I'm more than happy to help. Keep safe!

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