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Chapter 7. Setting Up Accounts, Inventor... > Setting Up Expense Accounts

Setting Up Expense Accounts

The process for setting up expense accounts is nearly identical to that of setting up income accounts. The main difference is that you have an opportunity to designate whether an account is a parent or a subaccount for your expense accounts. Income accounts can have subaccounts as well, but there is no provision in the EasyStep interview to create subaccounts for income accounts. This must be done after the interview is completed.

A parent account is a major category of expense account. You can provide more details of the components of a parent account by creating subaccounts. The total value of all the subaccounts of one parent make up the total amount in the parent account.


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