Once Chart of Accounts window is opened, then:
1. Click Account bar > New (or Ctrl + N) to open “Add New Account: Choose Account Type” window below:
2. Select type of account you want to create from Profit & Loss accounts (income or Expense) or from Balance Sheet accounts (Fixed Asset, Bank, Loan, Credit Card, Equity, or Other Account Types).
When you choose Other Account Types, you must select again from its drop down menu. Once selected, click Continue to open Add New Account window:
3. Enter account number in the Number box.
4. Enter your account name in the Account Name box.
5. If you create a subaccount, then check mark the Subaccount of box, then select the appropriate parent account.
6. You will only see the Currency box if you activate multiple currency. Select the appropriate currency.
7. Optional fields:
• Description to enter account description.
• Bank Acct.No. for your actual bank account number.
• Tax-Line Mapping for mapping to Turbo Tax program.
• Do not enter opening balance in the Enter Opening Balance bar.
8. Unless you want QuickBooks to remind you in ordering checks, leave the “Remind me to order checks when I reach check number” box blank.
9. Click Save & Close.