In newQBO, you will need to create new accounts setup in Chart of Accounts:
- Cash Account (Bank Type)
- Rental Payment (Income Type)
- Security Deposit (Other Current Liabilities Type)
(From Company Gear, top upper corner > select Chart of Accounts under Settings header)
Also, if you are creating Sales Receipt, you will need to Product/Service Item for these two:
- Rental Payment (Income account linked to Rental Payment)
- Secuirty Deposit (Income account linked to Security Deposit account)
- (From Company Gear, top upper corner > select Products and Services under Lists header)
For creating Sales Receipt (From create “+: plus sign, top middle > select Sales Receipt under Customers)
In newQBO, you will have to constantly deal with Three Amigos.
- Create “+” sign = enter all transactions
- Gear = settings/preferences
- Left navigation bar = history, reports, banking, customers/vendors center