Setting Up Chart of Accounts in QuickBooks Online | For Online Sellers

Great financial statements are built on solid, well-designed chart of accounts.

Setting up a chart of accounts in QuickBooks Online can be frustrating and confusing but doing it right can make all the difference in having neat, easy-to-read financial statements. In this tutorial, Brittany explains everything you need to know to set it up properly and efficiently.

By the end of the video, you’ll know:
👉 What a Chart of Accounts is
👉 How to set one up correctly
👉 What your setup options are
👉 What you need to think through
👉 Tips & tricks to make it great

At the end of the video, Britt will show you how to upload an Excel file we’ve created to make setting up your Chart of Accounts for small businesses SO MUCH EASIER.

👉 Here’s the link to that file
https://ledgergurus.com/portfolio/you...

Timestamps:
0:00 What this video will teach you
0:47 Why you need to know about a Chart of Accounts
1:22 What is a Chart of Accounts?
1:56 Five types of accounts that financial activities flow into
2:57 Problems in Chart of Accounts design
5:52 Setting up a preliminary Chart of Accounts in QuickBooks
6:23 How to get to your Chart of Accounts
7:52 How sub-accounts & parent accounts work
8:21 How to edit your Chart of Accounts
9:45 Detail types of expenses
11:16 The longer your Chart of Accounts, the easier it is to make a mess of it
11:59 How to record the details of transactions
13:10 Pro Tips – Keep your COA minimalistic
13:26 How to merge accounts
14:34 How to keep QuickBooks costs down
15:10 Class tracking
16:15 How to get a downloadable Chart of Accounts
16:46 How to download the sample Chart of Accounts into QuickBooks

◾◾◾◾◾◾◾

🔥 If you need help with your ECOMMERCE ACCOUNTING, you can view our services here:
https://ledgergurus.com/ecommerce-acc...

◾◾◾◾◾◾

⬇️ MORE STUFF YOU SHOULD CHECK OUT ⬇️

** DOWNLOAD our “Five Signs of Bookkeeping Trouble with an eCommerce Business **
https://ledgergurus.com/portfolio/fiv...

** OTHER RELATED CONTENT **

** BLOG: 5 Common Shopify Accounting Mistakes **
https://ledgergurus.com/5-common-shop...

** BLOG: 3 Accounting Basics for Shopify Sellers **
https://ledgergurus.com/3-accounting-...

** Amazon Seller Bookkeeping Basics (FOR ACCURATE FINANCIALS) **
   • Amazon seller bookkeeping basics (FOR...  

** If you're interested in our ECOMMERCE ACCOUNTING SERVICES, click here to contact us: **
https://ledgergurus.com/ecommerce-acc...

◾◾◾◾◾◾◾

🧑‍💻 EMPLOYMENT OPPORTUNITIES:

We are always looking for awesome CPAs, accountants, and bookkeepers to join our team. If you're interested in working for LedgerGurus, check out our careers page:
https://ledgergurus.breezy.hr/?utm_so...

◾◾◾◾◾◾

👋 SAY HI ON SOCIAL:

Website: https://ledgergurus.com/?utm_source=y...
Facebook:   / ledgergurus  
LinkedIn:   / ledgergurus  
Instagram:   / ledgergurus  

   • Setting Up Chart of Accounts in Quick...  

#ecommercechartofaccounts​​ #ecommerceaccounting​​ #ledgergurus​​