You can then enter the account balance as it is today.Ĭhoosing Beginning of this Year will automatically set the date to January 1 st of the current year. If you want to enter the balance now, then where QuickBooks Online asks When do you want to start tracking your finances from this account in QuickBooks, you can choose between Beginning of this Year, Beginning of this Month, Today, or Other.Ĭhoosing Today will start tracking from today. If you don't want to enter an opening balance, you can skip it and enter it later. Next you can enter the date that you want to start tracking your account from and the balance on that date. You may want to do this in order to break down your expenses and income into more detail later, but we will skip that for now. You will then be asked if this account is a sub-account of another. Optionally, you can also fill out the Description section. You can change that name to be more specific. The options here include Cash on Hand, Checking, Money Market, Rents Held in Trust, Savings, and Trust Account.Ĭhoose Checking for Detail Type and you will notice that the Name field is automatically changed to represent your choice. We are making a bank account, so you should select Bank from the dropdown menu.ĭepending on your selection in the Account Type option, you will see different options in the Detail Type section. The options here include Accounts Receivable (A/R), Other Current Assests, Bank, Fixed Assets, Other Assets, Accounts Payable (A/P), Credit Card, Other Current Liabilities, Long Term Liabilities, Equity, Income, Other Income, Cost of Goods Sold, Expenses, and Other Expenses. The first option asks you what type of account to make. You will then see an Account panel pop up. At the Chart of Accounts page, click the New button. Alternatively, you can get to the Chart of Accounts page from the Accounting section in the left-side Navigation Pane. ![]() To set up a new bank account, start by clicking the gear-shaped Settings icon in the Header and then choosing Chart of Accounts. Now that you've seen where bank accounts show up on the dashboard, let's see how we can make a new account. ![]() It not only saves here, but also saves the new order on the Banking page. If you click on the pencil icon in this panel, you will be able to edit the order of each account by dragging and dropping them in any order that you like.Ĭlick Save to save the order of the accounts. They usually appear on the right-most column, although it depends on how wide your screen is.įrom this window, you are able to directly do a few tasks. You can quickly see your bank accounts right from the dashboard. Let's start by seeing how you see an overview of your accounts. In this article, we will see how you can quickly view your accounts in the dashboard, how you can make and edit accounts, how you can enter starting balances through journal entries, how you can reconcile an account, and how you can delete, then later restore, an account. In this lesson, we'll take a look at how you can manage bank accounts and credit cards. However, we will cover linking your accounts to financial institutions in a later lesson. Linking your accounts can be a great time-saver and allow you to see all your up-to-date accounts in one place. With QuickBooks Online, you can create your accounts and then link to them to your financial institutions. QuickBooks Online lets you create all sort of accounts that you can monitor within the app. One of the most important things you need to manage are your bank accounts and credit cards.
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