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December 30, 2022
Question

Setting up a chart of accounts on a second bank account

  • December 30, 2022
  • 1 reply
  • 0 views
i created a second chequing account to deposit funds that are more  just for holding i want to set up a GL account for this other bank account. can it be done

1 reply

December 30, 2022

Hi info1875,

 

Welcome to Community!  QuickBooks Online has the versatility you need to accomplish your bookkeeping goals seamlessly.  You can easily add new accounts and sub-accounts to your books for tracking and reporting with confidence.  I'd be glad to assist!

 

Here's how to add a new account to your chart of accounts;

 

1. Open your Settings ⚙ and select Chart of Accounts

2. Click on New to create a new account

3. Use the Account Type ▼ dropdown and choose an account type

4. In the Detail Type ▼ dropdown, select the detail type that best fits the transactions you want to track. Learn more about detail types.

5. Give your new account a Name

6. Add a Description

7. If this is a subaccount of an existing account, select Is sub-account and then enter the Parent account. Learn more about parent accounts and subaccounts.

8. To make sure the account in QuickBooks matches your real-life bank or credit card account, choose when you want to start tracking your finances

9. In the Balance field, enter the amount in the account, and determine the as of Date. Enter today's date if you want to start tracking immediately

10. When you're done, hit Save and Close.

In addition, you can add accounts when recording transactions directly from the form, by selecting the Category ▼ dropdown and then + Add new.

 

Here's a helpful guide with regards to adding or editing the Chart of Accounts in QuickBooks Online.

 

If you have any other questions, please don't hesitate to reach back out.  We'd be happy to help!