VARC Solutions Bookkeeping Academy: Chart of Accounts Part 2

Angie Willis leads a session on organizing and using the chart of accounts in QuickBooks. She explains how to create sub-accounts in both QuickBooks Desktop and QuickBooks Online (QBO), emphasizing the importance of ensuring account types match. Angie demonstrates merging accounts, noting that while merging is straightforward, unmerging is complex. She also discusses inactivating accounts to hide them from future transactions while retaining historical data. Additionally, she highlights differences between Desktop and QBO, such as the inability to have multiple AR and AP accounts in QBO and the necessity of including names in journal entries for certain accounts. The session concludes with a Q&A, addressing common issues and strategies for effective chart management. #quickbooksbookkeeping #quickbooksexperts #quickbooks #bookkeeping