Chart of Accounts (Wheel of Rants)
Veronica Wasek joins Alicia for "wheel of rants" to dive into QuickBooks Online's chart of accounts transformation. They explore how Intuit's changes to expand the chart have created both opportunities and challenges for accountants and small business owners alike. The hosts discuss common account types including opening balance equity, undeposited funds, and reconciliation discrepancies, while offering insights on modernizing traditional categories to better reflect today's digital business environment..
Send your Questions/Comments (we could read/answer them on air) unofficialquickbookspodcast@gmail.com
Alicia’s classes:
- (00:00) - Welcome to the Show
- (00:35) - QuickBooks Online's Chart of Accounts Evolution
- (02:18) - Reactions to the New Chart of Accounts
- (04:01) - Renaming Classic Categories
- (07:33) - GAAP and Custom Chart of Accounts
- (12:14) - Detail Types and Tax Preparation
- (17:33) - Managing Opening Balance Equity
- (21:51) - Undeposited Funds Workflow
- (25:20) - Reconciliation Discrepancy
- (27:47) - QuickBooks Online Adjustments
- (30:32) - The Importance of Numbering Systems
- (33:59) - Reclassify Tool and Modern Categories
- (37:21) - Meals and Entertainment Changes
- (38:52) - Merchant Services and Modern Expenses
- (43:47) - Final Thoughts and Upcoming Classes
Send your Questions/Comments (we could read/answer them on air) unofficialquickbookspodcast@gmail.com
Alicia’s classes:
Chart of Accounts in QBO: http://royl.ws/QBOCOA
Reconciling in QBO, Including troubleshooting: http://royl.ws/Reconciling-In-QBO
Credit Cards in QBO, April 1, 2025: http://royl.ws/QBO-credit-cards
Veronica’s class:
QBO Paid Diagnostic Review System: http://bit.ly/5mb_diagnostic
Creators and Guests
Host
Alicia Katz Pollock, MAT
Alicia Katz Pollock, MAT is the CEO at Royalwise Solutions, Inc.. As a Top 50 Women in Accounting, Top 10 ProAdvisor, and member of the Intuit Trainer/Writer Network, Alicia is a popular speaker at QuickBooks Connect and Scaling New Heights. She has a Master of Arts in Teaching, with several QuickBooks books on Amazon. Her Royalwise OWLS (On-Demand Web-based Learning Solutions) at learn.royalwise.com is a NASBA CPE-approved QBO and Apple training portal for accounting firms, bookkeepers, and business owners.
