Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

Set up a dummy account to make tax line assignments

To do this task

  1. Go to the File menu and click New Company.

  2. Enter a dummy name for your company. Click Next until you can select the type of business that most closely resembles your own.

  3. Click Next until you are prompted to save your new company.

  4. Enter a name for your company file, then click Save.

  5. Print the chart of accounts for the dummy company.

  6. Close the dummy company and reopen your company.

    • Go to the File menu and click Open or Restore Company:

    • Click Open a company file and then click Next.

    • Browse and select the company file and then click Open.

  7. Print the chart of accounts for your company.

  8. Compare the two charts of accounts:

    • On the chart of accounts for the dummy company, look for accounts that correspond to the accounts you use in your own business. The account names don't have to match—what's important is to find accounts that track the same type of income or expense. For example, an expense account named "Freight & Delivery" in the dummy company chart of accounts could correspond to an expense account named "Shipping Costs" in your own chart of accounts.

    • When an account on the dummy company chart of accounts corresponds to one of your income or expense accounts, note the income tax line that QuickBooks assigned to the account in the dummy chart of accounts.

  9. In your chart of accounts, assign the appropriate income tax lines.

See also

KB ID# H_DUMMY_ACCOUNT_FOR_TAX_SETUP
9/28/2016 1:30:22 PM
PPRDQSSWS406 9138 Pro 2017 a195bd