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
