Learn how to edit the Chart of Accounts directly from Excel for a single client or multiple clients in a group.
This article covers the following:
- Getting Started
- Columns Explained
- Using the Chart of Accounts Template
- Scenarios When This Template Could be Used
We recommend familiarising yourself with the following articles:
Important notes to be aware of when using this template:
Each row in the template represents an account. Only those marked with a Yes will be uploaded to QuickBooks.
This is a Post and Edit template, it can be used to create a new chart of accounts for a new client or to edit an existing chart of accounts. If you are not familiar with this process please go through the article below. How do I push & edit data into the accounting software?
This template does not support opening balances. If opening balances are required users should use the Journals Entries template to input figures.
Mandatory fields must be filled in to successfully push a row to the accounting software - these are also marked with a white star in the template. The other columns are optional and can be used depending on what information needs to be posted/imported.
|Post?||Change to ‘Yes’ if you want to post the row details to your accounting software. ‘No’ can be used when editing. Leave lines as ‘No’ to ensure they will not be edited. Users can set rows to 'Delete’ if they wish to delete any accounts from the chart of accounts.|
|Organization||Users can choose the Client that this account will be uploaded to from the drop down list. If you chose to link the template to a group of clients then the dropdown will include all the clients in the group. If users are using the template for only one client , the drop down will only show that one client’s name.|
|Number||This optional value is the Account Number. Users can input any account number. Keep in mind that the account number can not be the same as another account number although it can be left blank. This means that the account number is a unique field.|
|Name of Account||In this field a user can type in the account name desired. This is limited to a maximum of 100 characters.|
|Account Type||This is a QuickBooks field and the dropdown will be populated directly from the accounting software.|
|Detail Type||Another QuickBooks field, however this is dependent on the ‘Account Type’, a data validation check ensures that the correct ‘Detail type’ in relation to ‘Account Type’ is selected.|
|Description||This is where the user can input the account description. This is limited to a maximum of 100 characters.|
|Currency||Choose the currency you would like to associate to the account from the dropdown.|
|Is sub-account?||The sub-account field is a drop down which is built from the “Name of Account” field. To assign this relevant line as a sub account, simply select the account name you would like this line to be the sub-account of.|
|Default Tax Code||Choose the tax rate that needs to be applied to this account (these are downloaded from the selected QuickBooks client).|
DO NOT EDIT the QBO Account ID column in any way.
Using the Chart of Accounts TemplateOnce you have created a new client in QuickBooks, a default chart of account will be created for this client.
- The first steps in using the template would be to select your client or group and click the Get Data to Edit button.
- Edit the chart of accounts as desired. Having access to all excel functionality, users can choose to copy and paste the information from other sources to quickly populate the chart of account.
- Users can also delete accounts that are not necessary. To do this simply select ‘Delete’ from the drop down list under ‘Post?’.
- Once you are happy with all your amendments and have set the relevant “Post?” options, users can upload the entire sheet in one go by clicking “Post Online”.
Scenarios When This Template Could be Used
Uploading similar chart of accounts for different clients.
In many cases users tend to have more than one client with a similarly structured chart of accounts. Putting these clients into a group and loading their chart of accounts into one spreadsheet makes editing them in bulk, quick and easy.
Updating sub-accounts and default tax rates
Using the ‘Is sub-account’ column, users can assign many sub-accounts in one go, together as updating various Tax rates.