are you frustrated because you're trying to figure out the new chart of account
interface and quickbooks online well then you should watch this emergency update
because there has just been a change to the chart of account interface in quickbooks online
if you have any questions about this topic you can leave them in the comments section below
and i'll do my best to help you and of course if you feel the video helped you i hope you will
click like and don't forget to subscribe to get updates on new videos that come out all the time
don't be intimidated don't be fooled everything in the following video about chart of accounts
is still there you see the old interface that just changed was there for many years and when
you click to open a new account window you would first get the choice of account type
and based on that choice you would get a different pull down list for the detail type which was like
the subtype and only after choosing both of those types were you able to put in your account name
everything now is the same it just looks different so don't be fooled the new interface has the same
thing when you click the green button in the top right instead of that window you saw a moment ago
you instead see a side panel open up with these little circles and these little circles are
now what we call the new general category which means all you have to do differently from before
is first choose one of the general categories of the account that you're about to add
then everything else will appear one by one
for example if you choose to click the circle of assets what you will see is the account type
assets or the account types that are under that general category and when you click the pull down
those are the same account types that you had the choice of in the previous interface they're simply
listed under the category of assets and when they say listed under it means the chart of accounts
lists them inside that category and keeps all the accounts in the same category together so the only
difference is you would first choose one of the circles on top then you would choose your account
type of course if you choose a different circle then a different set of account type choices
will appear under the first pull down and the account type list will change if you choose
a different general category but don't worry those are the same account types under that category
now the detail type will change based on the account type that you chose just like it did
a moment ago when you saw the old interface and those are the same detail types under that account
type category just like it would be in the old interface so the old enter new account window
used to look like this and we're going to try right now to see if i can actually enter
this exact account in the new interface bank type of account detail is cash on hand and the name
is cash and bank and we'll see what it looks like on the list when i use the new interface
so here in quickbooks online i click accounting chart of accounts then i click new
now when i click new i get these choices of circles on the top right and these are the general
categories that my account will fall under this is the only new piece of information that i have
to choose when putting in a new account but it should be apparent what category the account is in
for example based on our name i'm sure that it's a bank type of account and once i choose that circle
when i click the pull down i get bank type of accounts and these are the existing accounts
that were already on the list before i initiated this video so if i click bank type of accounts
that's the account type under here if i clicked another general category i would certainly get
more choices under that general category but under the bank category there's only one bank type of
accounts and these are the ones i already have so i know that the general type is bank account
and where it says tax form selection that simply means detail type because it might help you
when placing the account numbers on a tax form so in the prior example the detail type was
cash on hand and the account name was cash and bank a bit silly but this that's our example
okay so we have the general category and then remember these are the ones that are already these
are the accounts that are on the list already this is the name of the account type that you put
and then of course detail type means tax form selection it's the same thing as before
and when you click save now you see what they mean by category under because you can see cash in bank
is this detail type and that's how it's listed in the chart of accounts
in closing i would like to make a solemn promise
to all my students that soon i will have an updated video that shows your new interface
in your course for the video that shows the chart of accounts
until then please use the video that follows this one and just remember how the interface now works
so that you can quickly and easily and smoothly put in your chart of accounts and if you don't
yet know what the chart of accounts is just watch the following video but put everything in
in the way i showed you here thank you so much for your patience and the new videos are coming soon