Account numbers are extremely useful for QuickBooks and are considered a good accounting practice. Here is a rule of thumb to assign numbers to account names, although it is not necessary to use numbers in QuickBooks:

• 1000-1999 Assets
• 2000-2999 Liabilities
• 3000-3999 Capital, Equity
• 4000-4999 Income, Revenue
• 5000-6999 Expenses
• 7000-7999 Other Income
• 8000-8999 Other Expenses

When setting up your QuickBooks file, add the account numbers given by your accountant. You may choose to show or hide the account numbers in Accounting Company Preferences.

What if I Need More QuickBooks Help?

If you need more help on how to use QuickBooks, browse our blog posts. You should be sure that you know how to do the following:

• Create a New Company File
• Understand a Chart of Accounts
• Create an Industry Specific Chart of Accounts
• Manage Your Preferences
• Add Items
• Get the Most Out of your Reports

If you need more specific help with QuickBooks, please contact Fast Trac Consulting for customized advice from the experts.