Making it Easy: QuickBooks Preset Chart of Accounts

QuickBooks (QB) provides multiple sets of preset Charts of Accounts. Each set is designed for a specific industry. In this article, we'll review how to use and customize these when you're setting up your company data file for the first time.

The list of industries for which QB provides a preset Chart of Accounts is extensive. You choose which one you want to use during the EasyStep Interview. You can choose Other/None from this list to use your own custom Chart of Accounts.

If you're using a preset Chart of Accounts, proceed through the interview until you get to the Review Income and Expense Accounts screen. Scroll through the list to select each account you want QB to use in your company data file. We should point out that some accounts, such as A/R, A/P, and Undeposited Funds, are not created until you use these features in your company file.

To create a custom Chart of Accounts, you'll need to setup each account yourself in the Chart of Accounts window.