How to add a new Expense Account?

simplyhum

Hello,

I am under the Purchases -->> Products and Services -->> Add a Product or Service -->> Expense Account. Here I am given an option of choosing an existing type of account, but what if the same doesn't exist and I want to add a new one, is it possible? If YES, how?

Thanks

TylerK

Hey @simplyhum! You will first need to click into one of the folders shown (either Cost of Goods or Expense). You'll immediately be met with some preloaded options but you can select one to rename it however you'd like. You can also create Income and Expense accounts through ACCOUNTING > Chart of Accounts. You can learn more about this process here: https://support.waveapps.com/hc/en-us/articles/208622046-How-to-add-accounts-and-customize-categories