How to configure your Chart of Account in QuickBooks 2017, 2016, 2015

QuickBooks Chart of Account setup can be configured in a number of ways. However, please be aware of the following restrictions in QuickBooks with regards to the COA in the General Ledger.

• The Account number is ALPHA-NUMERIC but cannot exceed 7 characters
• The Account TYPES are hard coded and the types cannot be changed
• Account Number are optional and the Account description cannot be the same for ANY of the account in the COA
• Account Numbers tracking is turned on in the PREFERENCE section of the QuickBooks company configuration

The account types must be ONE of the following per account:

• Bank
• Accounts Receivable
• Fixed Assets
• Other Current Asset
• Other Asset
• Loan
• Credit Card
• Accounts Payable
• Other Current Liability
• Other Liability
• Equity
• Income
• Other Income
• Cost of Goods Sold
• Expense
• Other Expense

For more info, please call our Consulting Team at Tel. (855) 227-0700 or visit our websiteCBR Technology