MY CARTHow to Add New Accounts in QuickBooks Online
How to Add New Accounts in QuickBooks Online: Video
This video lesson, titled “How to Add New Accounts in QuickBooks Online,” shows you how to add new accounts in QuickBooks Online. This video lesson is from our complete QuickBooks Online tutorial, titled “Mastering QuickBooks Online Made Easy.”
Overview:
To add new accounts in QuickBooks Online, click the “Settings” button and then click the “Chart of accounts” link under the “Your company” heading in the drop-down menu to open the “Chart of accounts” page. To add a new account, click the “New account” button in the upper-right corner of the “Chart of accounts” page to open a “New account” pane at the right side of the window.
Enter the account’s name into the “Account name” field. If you enabled account numbering, you can enter an account number into the “Account number” field. To select the account type, select a choice from the “Account type” drop-down. If needed, then select the specific account detail type from the “Detail type” drop-down.
If needed, to make the account a subaccount, check the “Make this a subaccount” checkbox and then select the account’s parent account from the “Parent account” drop-down that then appears.
To enter opening balances and starting dates for most balance sheet accounts (assets, liabilities, and equity), enter the opening balance into the “Opening balance” field and select the date of the opening balance amount from the “As of” field. Opening balances ensure you have correct account balances for financial reports. If desired, to learn more about opening balances, click the “More info on opening balances” link.
Optionally, to enter an account description, type it into the “Description” field. The “New Account Preview” section of the pane shows how the account will appear within its financial report, based on the information you entered.
To finish creating the account, click the “Save” button in the lower-right corner of the “New account” pane. Alternatively, to save the account and then create another new account, click the drop-down to the right of this button and choose the “Save and new” command, instead. Alternatively, to cancel creating the account, click the “Cancel” button at the bottom of the pane.
