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June 10, 2020
Question

How do I show other income account on income statement besides sales account?

  • June 10, 2020
  • 1 reply
  • 0 views

I originally just had a sales account now with the Covid 19 I have added two more accounts "other income" for CEWS and Wage subsidy 10 with amounts in the two accounts?  Why don't I see the two other income accounts on the Income stmt? I can't seem to find anywhere to correct this?  TIA

1 reply

June 10, 2020

Hi Calgarygirl,

 

Glad to hear from you again. I hope all is well on your end. I'd be happy to share more info about creating accounts in QuickBooks Desktop. 

 

QB Desktop is a versatile program which allows you to seamlessly manage your accounts. It's vital you're able to see your "other income" accounts on your income statement. First, it's important to make sure your accounts are created correctly. I also recommend making there are transactions associated with those two accounts so you can see them on your statement. Here's how to add an account: 

  1. Go to Lists at the top menu, then select Chart of Accounts.
  2. Select the Account drop-down at the bottom, then choose New to create a new account.
  3. Select an account type, then Continue.
  4. Enter the account details.
    1. Select the Subaccount of checkbox if it's a child account.
    2. From the drop-down, choose the parent account.
  5. Select Save & Close.

If you need to edit the existing accounts, here's how: 

  1. Go to Lists at the top menu, then select Chart of Accounts.
  2. Right-click the account that you want to edit.
  3. Select Edit Account, then make the necessary changes.
  4. Select Save & Close.

I encourage you to check out this helpful resource with more info on: Understanding the chart of accounts in QuickBooks.

 

Give this a try and if you have questions, please contact our support team using this link. Let me know if you have other questions by leaving a comment below. I'll be on standby.