As a small business owner, you know that maintaining accurate financial records is essential to keeping your business afloat. But maintaining accurate financial records can be a daunting task, especially if you have to track different accounts in different software programs.
That’s where sub accounts come in handy. Sub accounts are simply separate accounts within a single software program that track different aspects of your business. This way, you can keep your financial records accurate and organized without having to switch between different programs.
If you’re interested in setting up sub accounts in your QuickBooks account, read on for tips on how to do it.
Creating Sub-Accounts in QuickBooks Desktop
[ytvideo]Sub Accounts in QuickBooks: How to Set Them Up
When you create a sub account in QuickBooks, you get the added benefits of having your data organized in a way that makes it easy to see at a glance. Plus, sub accounts let you manage your finances separately from your primary account, which can save you time and money.
To set up a sub account in QuickBooks:
1. Open QuickBooks.
2. Click the Accounts tab.
3. Click the subaccount you want to set up.
4. Click the Edit button.
5. Change the account type to a professional, witty, or clever option.
6. Fill in the information you need.
7. Click the Save button.
8. Enjoy the benefits of having a sub account!
Sub Accounts in QuickBooks: What They Are and How They Work
If you have ever used QuickBooks, you know that it has a blog section that you can use to post articles and ideas about accounting, bookkeeping and small business management.
And if you have ever tried to figure out how to add a sub account, you know that it can be a bit confusing and frustrating.
So let’s take a minute to explain what a sub account is and how it works in QuickBooks.
First, a sub account is a financial account that you can use to track different aspects of your business. For example, you might use a sub account to track your income and expenses separately.
Second, you can use sub accounts to manage your finances more effectively. For example, if you have a lot of money that you spend regularly on different expenses, you can set up a sub account to track that money. Then, you can see exactly how much money you are spending and where it is going.
Third, sub accounts can help you keep better records of your finances. For example, if you are audited, having accurate records of your finances will help you defend yourself against any accusations.
So if you are ever struggling to add a sub account in QuickBooks, don’t worry. We have got you covered. In this article, we will explain everything you need to know about sub accounts in QuickBooks.
First, let’s take a look at what a sub account is and what it is not.
Sub Accounts in QuickBooks: The Benefits of Using Them
Sub Accounts are an extremely useful tool in QuickBooks. They allow you to divide your finances and business operations into separate, easily managed accounts. This can help you keep track of your finances, stay organized, and make more informed business decisions. Here are a few benefits of using sub accounts in your business:
1. Sub Accounts Can Help You Keep Track of Your Finances
One of the main benefits of using sub accounts is that they can help you keep track of your finances. This is because you can create separate accounts for each aspect of your business, such as your income, expenses, and cash flow. This can help you stay organized and make more informed business decisions.
2. Sub Accounts Can Help You Stay Organized
Another benefit of using sub accounts is that they can help you stay organized. This is because they can help you keep all of your financial information in one place. This can make it easier for you to track your business finances and make informed decisions.
3. Sub Accounts Can Help You Make More informed Business Decisions
One of the main benefits of using sub accounts is that they can help you make more informed business decisions. This is because they can help you track your finances and your business performance in one place. This can help you make better decisions about your business future.
Sub Accounts in QuickBooks: How to Use Them to Track Expenses
There are a few different ways to use sub accounts in QuickBooks to track expenses.
The first way to use sub accounts is to simply create them and then start tracking expenses in the appropriate sub account.
For example, if you run a blog, you might want to create a sub account to track web hosting and domain fees.
If you’re a contractor, you might want to create a sub account to track expenses for your services, like materials costs and taxes.
The second way to use sub accounts is to use them as filters.
For example, if you’re tracking expenses for your blog, you might want to use the sub account for “web hosting” as a filter to only show expenses for hosting your blog on a web host.
The third way to use sub accounts is to use them as a way to categorize expenses.
For example, you might use the sub account for “blogging” as a filter to only show expenses for your blog.
The fourth way to use sub accounts is to use them as a way to track expenses over time.
For example, you might use the sub account for “blogging” as a filter to only show expenses from January 1 to December 31.
The fifth way to use sub accounts is to use them as a way to track expenses by category.
For example, you might use the
Sub Accounts in QuickBooks: How to Use Them to Track Income
Let’s say that you have a contracting business with multiple subcontractors. You may want to create subaccounts to track income, expenses, and contracts. This will make it easy to see who is making what, when, and where the money is going. Here’s how to do it.
1. In the QuickBooks Home Page, click on the Accounts button.
2. In the Accounts List, click on the Subaccounts button.
3. Click on the New Subaccount button.
4. Type a name for your subaccount in the Name text box.
5. In the Subcontractor List, click on the name of the subcontractor you want to add to your subaccount.
6. In the Account Type field, click on the type of account your subcontractor is using.
7. In the Category field, click on the category of business your subcontractor is in.
8. In the Income field, type the amount of money your subcontractor has earned so far this year.
9. In the Expenses field, type the amount of money your subcontractor has spent so far this year.
10. In the Contractor field, type the name of the contract your subcontractor is working on.
11. Click on the Save button.
12. In the Subaccount Summary Summary box, scroll down to see a list of your subaccounts.
Conclusion
Subaccounts are a great way to keep track of different parts of your business in QuickBooks. They can help you track income and expenses, keep track of your cash flow, and more. And, they’re easy to set up – just create a sub account in QuickBooks, and you’re ready to go!
