![]() ![]() QuickBooks Online makes it easy to set up a chart of accounts in just a few simple steps. Thankfully, with QuickBooks Online and other small business accounting software programs, you don’t need to know how to set up a chart of accounts. How do you set up a chart of accounts in QuickBooks Online? Setting up the Chart of Accounts correctly is an essential part of setting up your company in QBO. What is the chart of accounts and why do I need to use it? The Chart of Accounts is simply a list of accounts you will use to classify transactions in QBO. In this blog post, I’ll show you how to set up the Chart of Accounts in QuickBooks Online. No need to worry, because you don’t have to learn accounting to understand the Chart of Accounts. Because they didn’t have any training in accounting, Jill and Bob were afraid that one small error would spiral into such a huge mess that their books would get totally messed up. They didn’t know what a Chart of Accounts was, and they had no idea how it worked. Jill and Bob had a terrible feeling of dread. Then they had to contend with the “Chart of Accounts” ….dun dun dun… ![]() As they started setting up QBO, many things seemed simple. Because of this, Jill and Bob purchased QuickBooks Online. Nevertheless, Jill and Bob understood that they needed to do some bookkeeping, especially for filing a tax return. All they knew how to do was run their business. Jill and Bob were neither bookkeepers nor accountants. ![]()
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