Chart of Accounts and Items

Discussion in 'Business Operations' started by CL73Inc, Jan 5, 2002.

  1. CL73Inc

    CL73Inc LawnSite Member
    Posts: 2

    Setting up quickbooks pro 2001 and was interested in what other people find most useful. Some questions:

    1. Does any one have a sample chart of accounts? I think I may have gone over board with too many expense accts and would love to see what other people use. Same for income accts...I think I use too many.

    2. Items. Should they be general such as maint, const, and sanding or it is better to more specific and break out individual functions such as weeding, pruning, tree work, snow shoveling, etc.

    I have an accounting degree but quickbooks is new to me and any feedback on ways you get the most out of it would be greatly appreciated. Thanks guys. Get ready for the snow in Boston.
     
  2. GroundKprs

    GroundKprs LawnSite Bronze Member
    Posts: 1,969

    You are better off to start off with too many categories. At a later date you can combine them if you feel that you have it too detailed. There is a function in QB to combine categories, basically you are just renaming one category to another existing category.

    But later if you want to break one category down into more detail, you will have to go back and edit every entry in the new categories or sub-categories if you want them to be accurate.

    So set up as many as you want for detail; and later you will probably find that you even want more. LOL.
     
  3. I agree, more is better. I think it can be confusing sometimes though. I am in the process of refining my chart of accounts as well as splitting my 'WAGES' account up so that I can post different guys to different 'COST OF SALES' areas. i.e. sometimes the install crew will do repairs, and now I can post their repair hours to another wages account thereby not diluting their actual costs of sales in construction.

    I am about to load QB Pro 2001 myself, been using Peachtree but I think my accountant is tired of using the courier so much to send backups and restores back and forth!!!
     
  4. bruces

    bruces LawnSite Senior Member
    Posts: 648

    It really depends on what you want. If you want a lot of detail, fine, if you don't think you need it, that is ok also.

    Do what it takes to give you the info you need, personally, the simpler the better, but that is just me.
     
  5. HBFOXJr

    HBFOXJr LawnSite Bronze Member
    Posts: 1,712

    This is my new chart of accounts for my new QB2001 Pro. It resembles my old chart in my other software. What is different is the lack of sub accounts here. I'm now using "classes" to further break down expenses and income. Classes I'm using for irrigation are new installation, service, alterations/additions, winterizations. For lawn care it's mowing/maintenance and applications. Subclasses under applications are aeration/seeding, regular applications and specialty applications.
     

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