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QBO Video Courses

Chart of Accounts in QBO

For someone else
Alicia Katz Pollock
For someone else
Purchase for $74 or enter access code

Learn to set up your QuickBooks Chart of Accounts according to accounting principles: bookkeeping terms, general ledger, Balance Sheet, and P&L statements.

Preview this course:

Get a sneak peek of what's inside this value-packed training. Watch the brief video below to explore the topics we'll cover and see the quality of content you can expect. Your journey to mastering the material starts here!

(Click the video above to watch the course spotlight video - 2 mins)


QuickBooks Chart of Accounts Course Description

Your Chart of Accounts (COA) is the backbone of your business and the foundation of your QuickBooks® file. It has two functions: outlining what the IRS wants to see for taxes, and generating your P&L and Balance Sheet reports to understand and analyze your business.

We’ll start with the fundamental accounting equation, Assets = Liabilities + Equity. During the conversation, you’ll learn bookkeeping terms including assets, liabilities, equity, income, and expenses. Then, we’ll make your COA your own! It’s impossible to use QuickBooks without customizing QBO’s default Chart of Accounts. We’ll discuss industry-standard accounts, create additional categories that reflect your unique operations, and inactivate accounts that aren’t relevant to you. 

By the end of this course, you’ll know how to read a Balance Sheet and a Profit and Loss statement, as well as how to structure your Chart of Accounts so it represents your own business’s workflow.



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You’ll learn about

  • The function of the Chart of Accounts
  • Creating new accounts and editing existing accounts
  • Equity accounts
  • Liability accounts
  • Asset accounts
  • Bank accounts
  • Credit card accounts
  • Income accounts
  • Cost of Goods accounts
  • Expense accounts
  • Other Income accounts
  • Other Expense accounts
  • Accounts Receivable
  • Accounts Payable
  • Undeposited Funds
  • Understanding a Profit and Loss Statement 
  • Understanding a Balance Sheet

After completing this course, you will be able to: 

  • Identify the main Chart of Accounts types
  • Recall the steps to modify the default Chart of Accounts
  • Recognize how the Chart of Accounts populates your Profit & Loss and Balance Sheet reports



Instructional Level


Course Length

2 hours

Course Credits

2 CPE, Certificate of Completion

Field of Study

Computer Software & Applications

Delivery Method

Group Internet Based or QAS Self-Study

Who should take this class?

  • Business owners and employees who want to understand the “business behind business”
  • Students and job-seekers will boost their employment marketability
  • Entrepreneurs and new business owners who are just getting started, and want to make sure they have solid business knowledge so that they can succeed
  • Bookkeepers and Accountants who wish to brush up on their skills.

Advanced Preparation: 

  • None


    Other learners purchased these courses after completing this class:  

    Explore new topics & join the hundreds of other business owners & accounting professionals who have enrolled in these courses after completing this Chart of Accounts class!



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    Refunds & Cancellations

    Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.


    Royalwise Solutions Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:






    Course Credits: 2 CPE, Certificate of Completion. Must be awarded within one year of enrollment.

    Course Updated: July 2022
    Course Page Updated: September 2023

    Here is the course outline:

    1. Download the Handout

    Click the links below for instructions.

    Download the handout here
    Glossary of Terms

    2. Watch the Videos: QBO Chart of Accounts 2022

    This is the recording of the class you attended. Watch and rewatch it until it all makes sense!

    Intro to COA (Chart of Accounts) and Agenda
    Biz View vs Accountant View
    What is the COA?
    Review 1: Parts of the Chart of Accounts
    How the COA Affects Reports
    Customizing Your COA
    Conclusion - What's Next?
    Review 2: Chart of Accounts

    3. Take the Quiz

    Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!

    Quiz: The Chart of Accounts
    Evaluation & Participation Survey


    The following certificates are awarded when the course is completed:

    Royalwise CPE Certificate
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