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Sub-accounts set up / chart of accounts

QuetzalitoQuetzalito Member Posts: 6

How do you guys solve the inability to create sub-accounts? (Main account = Utilities; sub -accounts: Utilities-Electricity, Utilities-Gas, Utilities-Internet, etc)

in Accounting Technical Support

Comments

  • MikegMikeg Member Posts: 995 ✭✭✭

    Quetzalito,
    In your example from above you would just set up accounts under operating expense for
    Utilities - Electric
    Utilities - Gas
    Utilities - Internet
    Unless you are using for management purpose I would suggest keeping it simple, and just use Utilities.
    Mike G, CPA
    www.mgfinancial.net

  • QuetzalitoQuetzalito Member Posts: 6

    Thank you Mike, I understand. Those accounts were just an example. I have a Real Estate company and advertising is a big ticket item when it comes to expenses, I would like to know at any given time where my dollars are going. In other words, if I could have Advertising as the main account and radio, paper, Facebook, Craigslist, Zillow as sub-accounts that would be perfect. Do you see my dilemma? :)

  • MikegMikeg Member Posts: 995 ✭✭✭

    Quetzalito,
    As far as I know Wave cannot do sub-accounts, so the solution given above is the only viable one I'm aware of.
    Mike, G CPA
    www.mgfinancial.net

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