Create and Build Your Chart of Accounts in QuickBooks Online

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Index
0:45 Instead of upgrading accounts in QBO, best bet to consolidate
1:20 Example of article, about overly detailed chart of accounts
2:30 Consolidate, you only need one liability account
3:00 Payroll liabilities should zero out
3:22 Another example, so many subaccounts
4:03 Drill in one account, let the payee names inside the details to tell you subcategories
4:57 Creating accounts in chart of accounts beginning
5:15 Establish account type, take your time browsing
7:10 As you create the accounts you are structuring Profit & Loss and Balance Sheet
7:43 Profit and loss you will find more opportunities to consolidate
8:00 Consolidate by merging accounts
8:21 Google Chrome vs Safari preference
8:35 Merge all to interest expense example
9:44 Now left with one surviving account, interest expense
10:13 Keep loan fees in separate account example
11:00 Summary of what was done in the video
12:06 Tips on creating dashboards to help in comparison analysis
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[@ramonaltamirano1549]

Thank you Seth! I run 3 owned companies and QB wanted to up my membership 3x. This helps me cut back on Chart of Account.