Adding Account Numbers to your Chart of Accounts.
Note: This next section is only required if you do not already have the "Account Numbering" feature enabled in QuickBooks Online.
Adding Account numbers to your chart of accounts will not affect the functions of reporting, it can in some circumstance help in the financial entry of transactions, by allowing users to type the account code, rather than the text (both will work).
Common Account Number Ranges
In principal ranges can be defined for any purpose, it is however recommended that the accounts are ranged to help in the grouping and reporting. The following represents a common table of accounting number ranges. The ordinal ranges can be arranged with or without the dash, in hundreds (100) or thousands (1000), it is really up to you and your accountant to work out the best CoA that fits the needs of the business.
|Account Range (Commencing Ordinal)||Financial Reporting Purpose|
|4-0000||Income / Revenue|
|5-0000||Cost of Goods Sold|
Step 1: Navigate to your Chart of Accounts in QuickBooks Online.
- Click on the Settings icon in the top navigation panel.
Select Chart of Accounts from the list under settings.
Step 2: Assign Account Numbers to Chart of Accounts
- Select the Show Account Numbers check box
- Click on the Assign Account Numbers button
Step 3: Review and Assign Account Number
Tip: If you have sub accounts, try use groupings of number ranges to help with the allocation and reporting. Enter the Numbering for each of the sub accounts, keeping the number ranges consistent.
Press Save when you are finished
Note: Make sure you press save frequently to ensure that your session does not expire, as you will loose all of your work.