Posted on 2014-08-16
I am new to QuickBooks, and although most of it is self-explanatory, I want to make sure the details are accurate. I am the treasurer for a condo Association. We have three Bank accounts, one of which is an Assessment Account which brings me to what I am sure will be my first of many questions. The Condo Association has had two different assessments since my taking office. I have downloaded all the data from the bank. Going through the transaction list for the Assessment account, I see that there are deposits from two different assessments. I want to create separate sub- accounts for each different assessment. So My question to anyone that can tell me - is: Is this sub- account which I will call "Roof Assessment" is this considered Revenue, Income, or what would the account type be "Bank"? if so - would there be a tax-line mapping? Any help is greatly welcomed and appreciated.