QuickBooks Tip of the Month: Streamline Your Chart of Accounts!
Is your Chart of Accounts (COA) helping you make sense of your financials? Optimize it in QuickBooks Online for better clarity and insights.
Run your Profit & Loss (P&L) report as a percentage of income and sort it in descending order to see your accounts from largest to smallest. Look for accounts representing less than 1% of revenue—these could be grouped into broader categories.
Need to track something specific? Break it out into its own category to ensure your financial reports give you the insights you need. Use the “Edit” function in your COA to merge, reorganize, or create new accounts for a cleaner setup.
Simplify your reporting and focus on what matters! Got QuickBooks questions? Schedule a meeting today!
