This is part of our Getting Started with QuickBooks Online series (Chapter 1 of the QuickBooks tutorial hub):

• Lesson 1: Choosing the Right QuickBooks Online Plan
• Lesson 2: Setting Up Your QuickBooks Company File
• Lesson 3: Building Your Chart of Accounts in QuickBooks
• Lesson 4: Navigating the QuickBooks Dashboard and Mobile App
• Lesson 5: Adding Customers and Products in QuickBooks

Your chart of accounts is what every transaction gets sorted into, and getting it right makes your reports genuinely useful.

1. Start with the default chart of accounts

QuickBooks comes with a standard chart of accounts that covers most small businesses reasonably well.

2. Adding accounts specific to your trade

For a trade or service business, adding specific expense accounts for materials, subcontractors and vehicle costs gives you far more useful reporting.

3. Using classes or locations for extra detail

If you want more granular reporting without adding new accounts, classes or locations let you tag transactions instead.

4. Not overcomplicating it

Too many accounts makes entering transactions slower and reports harder to read.

QuickBooks Australia’s YouTube channel covers customising your chart of accounts: watch the official QuickBooks tutorial. Our tradie bookkeeping team can review your setup as part of onboarding.