Apple Mac2014 - Adding or Editing Accounts

QuickBooks for Mac 2014 User’s Guide 47
names of a given account type will appear together. For example, you can drag an expense account to a
different place within the list of expense accounts, but not to the middle of your income accounts.
• To change the view. By default, QuickBooks lists accounts in a hierarchy. Click the arrow beside an account
name to view its subaccounts. You can also choose Flat View from the Action menu () that lists each entry as
the account name plus any subaccount name. You can change the view by selecting Hierarchical View or Flat
View from the Action menu.
Adding or editing accounts
When you set up your company file, QuickBooks sets up certain accounts for you automatically. As your business
grows or changes, you can add new accounts to your Chart of Accounts to better organize your finances. For
example you might want to create expense accounts to track office supply purchases separately from advertising
costs.
To add or edit a new account:
1 Choose Lists > Chart of Accounts.
2 To add an account, click + at the bottom of the Chart of Accounts.
To edit an account, select the account name and click Edit at the bottom of the Chart of Accounts.
3 Use the options below to set up your account. You’ll see some subset of these options, depending on
what type of account you’re creating. For example, you’ll only see the Bank No option when you’re
creating a Bank account.
o
Type—The type of account you are creating.
o
Number—The account number you want to give the account. (If you don't see the number field,
choose QuickBooks > Preferences and then click Transactions. Select the “Use account numbers”
checkbox.)
o
Name—The name you want to give the account.
o
Description—A description for the account and/or bank or credit card number.
o
Bank No—The number of the bank account associated with this account, such as your checking
account number.
o
Subaccount of—Makes the account the subaccount of an existing account. From the list, select
the account that will be the higher-level account for this subaccount.
o
Tax Line—Do you want to report this type of income or expense on your income tax forms?
!
If you do: Choose a tax line to associate with this account from the Tax Line list. The type of
tax form you chose in the New Company Setup Assistant interview or Company Information
window determines the income tax lines that QuickBooks displays in the pop-up menu. For
example, if you specified that you file the Form 1040, you could associate an automobile
expense account with the Schedule C: Car and truck expenses tax line.
!
If you don't: Choose <Not tax-related> from the Tax Line list.
Check with your accountant if you need more information about which tax forms to use and
which tax lines to map to each account.