Make the quick changes and move on to uploading our Chart of Accounts.

We have a google sheets document here that’ll help you change the accounts. Since you can have a limited number of accounts before you can upgrade, you’ll want to modify some of the existing accounts that you won’t use. When you first set up your QuickBooks Online file, you’ll be assigned a generic chart of accounts. Step 1: Modify the Existing Chart of Accounts In our case, we’ve grouped the accounts into six main categories: Cost of Goods, Direct Costs, General Administrative Costs, Payroll Costs, Professional Fees, and Occupancy Costs. A solid chart of accounts is reserved for around 100 - 125 accounts.Īnd finally, many COAs aren’t grouped, making it hard to compare one business to another. Point-of-sale subscriptions, delivery software, productivity apps, and other software are significant costs to restaurant owners and need to be tracked separately.Īdditionally, there are many COAs out there that are designed for restaurant groups and contain hundreds of accounts that you’ll probably never use. Outdated chart of accounts don’t consider things like software cost and its increasing role in the restaurant industry. There are many chart of accounts out there, but many of them are outdated or overly complicated. However, it is not well suited for the complexities of a restaurant. QuickBooks often comes with a default chart of accounts. One of the most important aspects of setting up your restaurant’s QuickBooks file is using a proper restaurant chart of accounts (or COA, for short).

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