welcome to our fourth video in the QuickBooks personal home finance course putting in your
accounts you need only the names of each bank account in each credit card account you do not
have to put the account number there would be no reason as long as you can identify which
one it is after we opened the chart of accounts we will remove the accounts that QuickBooks put
there if we cannot delete the account one of the accounts that QuickBooks put we will simply make
it inactive let's take a look at how we would do this from the main menu click list chart of
accounts some of these accounts you will be able to delete because they are ones that QuickBooks
puts whether you like it or not the ones that you can't delete you can make inactive I happen
to know the two associated with payroll you will not be able to delete so let's delete the others
right now click on opening balance equity then in the bottom left click account delete and click ok
and it will disappear click on retained earnings and then click account delete and it will let you
when you click OK if you try to delete one of the other two accounts account delete you will
get a message that you're not allowed to so instead click account make account inactive
that will hide it until you tell QuickBooks to show you all the accounts active or not do the
same thing with this one account make inactive now you have a nice fresh chart of accounts if
you ever want to see all of the accounts whether they're inactive or not you can click this button
down here and you will see that the two that we made inactive show up but they have the check the
X next to them and if we remove the checkmark you will not see them here are the names and account
types of the two bank account and the two credit card accounts that Joe Schmoe has let's take a
look at how to put them on the list in the bottom left so let's say the first one is Chase Bank and
M&T Bank so in the bottom left click account new the add new account window opens up and in this
window all you do is choose the type of account in this case Bank and QuickBooks will explain a
little bit about that account type when you click continue you get to the most important window the
add new account window notice bank type of account was selected from the previous window and all you
have to do is type in the name Chase who may make it capitals to make it look nice Chase Bank and
that's the name of one bank account notice when you click Save and new that account has been
added to the list don't worry about this one this one is QuickBooks needs to add but don't worry
it will have no effect on all your other accounts leave Bank as the account type chosen and type in
the name of your other account M and T bank then when you click Save and new you notice M&T bank
has been added as a bank account to your list the other two accounts are credit card accounts city
bank card and Capital One so all you have to do is change account type from bank to credit card
which is down here so now let's type city bank card and then click Save and new and then type
Capital One when you're finished you don't have to click Save and new you can click Save and close
and it will save it and close the window ok this is just an advertisement to ask you for a service
that QuickBooks wants to sell you so we will just click no now you have both bank accounts and both
credit card accounts in the chart of accounts now before we leave this window to add the chart of
accounts to the icon bar so you'll never have to struggle to remember where it is if you need to
open it up again click view add chart of accounts to the icon bar and then when you click OK notice
here it is so if I close this window and I click on the shortcut here we are right back in the
chart of accounts each account you have that is to say each bank or each credit card account should
have a separate register window in the icon bar let's take a look what you have to do is go to
the main menu and click banking use register and then choose one of the accounts that you put on
the list if you choose Chase Bank and click OK a window opens up that looks just like the account
register that your parents used to keep track of every transaction in their bank account notice
there are two lines for every one transaction and you would put the check number here the person
you paid would be here you would choose which expense or income here you would type a little
memo for yourself and if this were a check that decreased your account you would put it in this
column however if this transaction were a deposit you would put it in that column personally I like
to view the register in an easier format I like to click the one line box so that each transaction
goes across one line in my opinion it's much easier to see and understand and much easier
to find what you're looking for now that it looks the way we need it to look we can add it to the
icon bar click view add view add Chase Bank to the icon bar and then after we click OK here's
a shortcut to the register for Chase Bank click the shortcut and then the register specifically
for this account will open up there's another way you can open the register window let's try
it for the next bank account you can click to open the chart of accounts and instead of going
to banking and opening it up that way you can double click directly on the account and the
chart of accounts and it will automatically open in a register window and again I suggest you
click the one line button so that this is easy to see the title bar will tell you which particular
bank account you are recording checks or deposits into and again it's a good idea to have a shortcut
in the icon bar click view add M&T bank to the icon bar then just click OK now when you close
out all windows you'll notice if I click here I get the register with all my MT transactions if
I click here I get the Chase Bank window with all my Chase Bank transactions let's do it for
the credit cards same thing banking use register and let's choose Capital One when we click OK it
opens in this format where there would be two lines or the information for each transaction
is spread across two lines I prefer clicking the checkmark and having every transaction
across one line so it's easier to see to add it to the icon bar we click view at Capital One to
the icon bar and click OK close it out remember the other way to open an account in a register
window is to click the chart of accounts double click directly on the account in the chart of
accounts and that would accomplish the same thing you're opening the account in a register window
again I strongly suggest you click the one line box because in my opinion it's easy to see each
transaction on one line rather than two at the moment the Citibank card register window is the
active window in front that's the moment you can click view add Citibank card to the icon bar then
click OK now you'll notice whichever one you click as a shortcut that particular register window will
open up for you to record transaction in that account every individual should have one bank
type of account for your cash on hand which is also the cash in your wallet if you tend to use
a wallet but it should be an account in the chart of accounts so you can keep track of your personal
cash as it comes into your pocket and leaves your pocket or wallet and it should be a bank type
of account because money goes in and out of your pocket and your wallet we will put it on the list
the same exact way close these out open the chart of accounts from the bottom left click account new
make sure you choose bank type of account because QuickBooks is showing you for petty cash which is
your cash on hand or in your wallet bank type of account is appropriate click continue make sure
that bank is still chosen and then put I would either say cash on hand or cash and wallet cash
on hand and you could say wallet if you want to be more specific click Save and close click no
for the advertisement now again you should have the wallet register in your icon bar double click
click the one line as I suggest then click view add cash on hand to the icon bar and click OK you
should use this specific register the cash on hand with wallet register every time you withdraw cash
and put it in your pocket or every single time you pay money for a cash expense and each of these
lines that you record a transaction in should be matched to a receipt that somebody gives you