Hi -
I am new to QB and am in the process of setting up a chart of Accounts. I would like to do the following, but not sure if QB can do it.. and if so how?
EXAMPLE: For Expenses - Let's say I want the main category to be AUTO EXPENSES -
I would like to assign the main account (Auto Expenses) with an account - let's say: 5000 I then would have several accounts below this account - but linked to it i.e.,
5010 - Gas expenses
5020 - Auto Insurance
5030 - Auto Payment
5040 - Maintenance
5050 - Repairs
Each expense would go in one of the sub accounts; however, all the expenses would roll up up to the main 5000 account. This way, when I print an income statement, expense statement, etc. I would have the option of just printing the Main 5000 Account which would have the totals of all the sub-accounts. If more detail is needed - I could then expand the "tree" and have each Sub- Account print out.
I would think this can be done - but I'm not sure how to link the Sub Accounts to the Main Account so their expenses would all roll up.
Thanks so much in advance...
NC