The Accounts App lets you create and modify transactional accounts and sub-accounts that sync with QuickBooks.
What is an Account?
An account is a way for your company to categorize its money: be it income, expense, equity, asset, or liability. Transactions and items are assigned to accounts. This helps your accountant organize the Chart of Accounts in QuickBooks and keep track of your day-to-day funds.
How to Create an Account
To create an account in Method:CRM, which will sync to QuickBooks, follow the below steps.
1. On your Method:CRM dashboard, click ⊕ New on your Accounts App, or click ⊕ New Account on your Accounts List screen.
2. This opens the New / Edit Account screen. Fill in the appropriate fields.
- Name* - Give your new account a unique, and descriptive name.
- Subaccount of (Not Available in QuickBooks Online) - If applicable, choose a parent account for this account. Sub accounts are typically used to categorize specific types of transactions. For example, if the parent account is "Travel Expenses" a sub account might be "Meals" or "Transportation". This helps your accountant more accurately keep track of funds.
- Active Account? - If checked, this account is available as an account choice.
- Account Type - Account types determine whether this account appears on the Balance Sheet or Income Statement in QuickBooks. If this is a sub account, it must be the same type as the parent account.
- Description - Provide a description for your account.
- Account No. - The account number appears ahead of the name when synced with QuickBooks, in the chart of accounts, and accounting reports.
8. Click Save & Back. You are returned to your Accounts List.
And you're done! You've successfully created a new account.