There are many important things in Setting up a chart of accounts in QuickBooks.Right from the very first step you pick; there are different things. You will have to make sure that all the things are kept in place. 

Let’s take a quick look at some of the things. Which will help you in understanding and getting the account charts ready.

• You have different chart accounts for different types. There are usually 4 general ledgers or accounts. First is the asset, then liability, then income, and then comes your expense accounts.

• You will have to understand these categories and make sure you know them better.

• Understand the niche of all these accounts so that you get things right.