Assigning Income Or Expense To New Accounts In QuickBooks

ExpenseHave you ever wanted to assign income or expense to an account, but you didn’t see one that fits?  There are a couple of ways to set up new accounts.  One way is to click on the “Chart of Accounts” icon from the home page.  Another is to choose “New Account” in the drop down box of accounts while entering a transaction.  Both ways bring you to the chart of accounts list.  From there, right click and choose “New Account”.  On the next screen select the type of account it will be and click “Continue”.  Give the account a name.  If you want this account to be a sub account of another, click the box and choose the account in the drop down.  Sub accounts are common for things like utilities where you want the gas, electric, sewer bills reported separately, but all in one area.  Once that is done, click “Save and Close” and your new account is ready to use!

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