Charts of Accounts: Getting Familiar With The Backbone of Your Accounting System

Are you ready to feel completely at home using the chart of accounts in QuickBooks Desktop?

It’s essential to get comfortable with the chart of accounts — it’s no less than the backbone of your accounting system. 

Chart of accounts is a complete list of categories for tracking your financial information. QuickBooks uses this list to organize your transactions on your reports and tax forms. 

Your chart of accounts also organizes your transactions so you know how much money you have and owe in each account. And as a contractor, you’ll return to it again and again.

In the video below, I’ll show you around the chart of accounts — and make sure you’re empowered to make it word for you.

Discover more when you watch this 6-minute video:

Charts of Accounts: Getting Familiar With The Backbone of Your Accounting System

Follow along as I share exactly how to:

  • Access the chart of accounts (there are several ways!)
  • Set up new accounts
  • Edit your accounts 
  • Learn more about each type of account — and get super-clear on how to use them in your accounting system
  • Understand why subaccounts are more helpful than you might think (hint: they organize your accounts and allow you to view your financial reports in two levels of detail)
  • Make accounts inactive — and what happens when you do
  • Change the view to include the specific information you need in the moment
  • And more…

Remember, if you’re feeling frustrated or confused by QuickBooks, it’s not you — and I can help. 

QuickBooks can be totally confusing at first. Once you know your way around, though, it’s easy, effective, and profitable! way to run your business.

In my on-demand QuickBooks Desktop training, I’ll walk you through workarounds and shortcuts to stop wasting your time and energy. 

You’ll discover how to access the reports and numbers you need to make critical decisions every day — with just a few confident clicks.

Get all the details about the QuickBooks Desktop training here, or check out how we can work together one-on-one.