In QuickBooks Online, you can create sub-accounts to break down your expenses, income, and more into greater detail. For example, you can divide your utilities account into sub-accounts, so you can track different types of utility payments, like gas, telephone, water, and so on.
You can create sub-accounts of any main (or “parent”) account. Use them to keep your chart of accounts organized and make more detailed report.
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Thank you. I am setting up a not for profit chart of accounts and am trying to figure out the best way to setup the expense side of the COA that relates to each of the funding streams so that I can report P&L's by individual funding streams. Trying to avoid, if possible, setting setting up individual expense accounts (same accounts ie Office Expenses Funding 1, Office Expenses Funding 2, etc) for each funding stream. Can I use sub-accounts or track categories, or some other means to accomplish this?