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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.

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

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.

Advance Preparation 

None. "I wish I had taken this class before diving into qbo on my own. I made a lot of mistakes and now I am tasked with cleaning them up. The pace is very nice."





    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.



    Learners rave: Find out why people love this course!

    Discover the overwhelming praise as past learners share their experiences with this course. See all the reviews by clicking the 'Reviews' tab near the top of this page.


    Evergreen Content

    You'll have lifetime access to the on-demand course including all handouts and class material, including future updates. You'll also be able to ask questions in the Q&A forum and get answers, even years later. You can pause, rewind, speed up, and watch again later as you apply what you learn to each situation as it crops up.


    Want this course for FREE? Unlock this course & more for no extra cost with an OWLS Membership!

    Get instant access to ALL of Alicia's QuickBooks courses for FREE when you become a silver member - it's the perfect way to maximize your learning!

    "OWLfred says, "Silver membership pays for itself in just two courses per month!"

    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: April 2024
    Course Page Updated: April 2024

    Here is the course outline:

    1. Download the Handout (Required for CPE Credit)

    Click the links below for instructions. You must download these in order to receive CPE credit.

    Handout: Chart of Accounts Slides
    Handout: Chart of Accounts Detail Types
    Intuit's sample COAs
    Glossary of Terms

    2. Watch the videos: Chart of Accounts 2024

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

    What is a Chart of Accounts?
    Review 1: Chart of Accounts
    Cost of Goods
    Other Income and Other Expenses
    Detail Type and Tax Form Section
    Reports based on the Chart of Accounts
    Modifying Your Chart of Accounts
    Editing and Adding Categories
    Inactivating and Deleting Accounts
    Merging Accounts
    Reclassify Transactions
    Review 2: Parts of the Chart of Accounts

    3. 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
    What is the COA?
    How the COA Affects Reports
    Customizing Your COA
    Conclusion - What's Next?

    4. 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
    Course Evaluation Survey


    The following certificates are awarded when the course is completed:

    Royalwise CPE Certificate
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