Ask the Accountant: Navigating the 'Chart of Accounts'

By Harriet Gatter

Ask the Accountant…

Question: Can I use the QuickBooks Online Plus Chart of Accounts that is included in the program?

Answer: Yes, but it is a poor format for our industry.

QuickBooks is a wonderful product and is the No. 1 accounting software for a small-to-medium-sized businesses. It is used by a wide range of businesses, but it is not specific to our industry. As such, their default Chart of Accounts is poorly designed for Ad Specialty Distributors, and I find it inadequate and confusing.

I provide and load a Chart of Accounts designed specifically for our industry when setting up my clients in QuickBooks, and especially when using QBO.

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Harriet Gatter Author's page

Harriet Gatter is an independent accounting and order management consultant serving only ad specialty distributors. Her specialty is QuickBooks Desktop and QuickBooks Online: getting started; migrating from QB Desktop to Online; converting from other order management; and accounting systems, including manual spreadsheets, restarting QuickBooks files that have gone rogue, and training distributors to use their new system. (She was also a distributor for 23 years.)