Chart of accounts - Add support for subaccounts
Xero should have the ability (similar to QuickBooks) to have sub accounts in Chart of Accounts.
-
Dennis Adams commented
I used to use Xero. I'm fairly certain I could create subaccounts. What happened? How does the chart of accounts even function without this ability? I'm assuming there is an alternative, but I don't know what it is.
-
Deborah Sugarman commented
I just did a search and found other comparable accounting programs that DO have sub accounts. I really need that feature. I'm wondering if I'm doing the right thing converting to Xero without it.
-
Collis Marrett commented
Agree with all the comments here. A simple basic function that is standard on your competitors equivalent products, and a reason to choose them over Xero. Sub accounts is hardly reinventing the wheel, should not be an issue to implement.
-
Clover Melville commented
Xero have never enabled or set up SUB Accounts. It is a feature MOST needed by many clients.
Please provide a workaround. You make the option of 'Categories' available as a quasi tool. ( I know about grouping also)
HOWEVER it is a tricky business trying to categorise every transaction and not miss this step. Especially by other users.OPTION for Better Use of CATEGORIES
When setting up an Account in the 'Chart of Accounts' Could Xero enable a feature to set a Category option here - so no matter who is working on the file - The Account used could be set up to include a set category option pulling through to the account code at invoicing, billing, Spend Money etc.
This would enable a sure fire better option to have a closer more doable reporting system for splitting the account income and expenses for those who trully need it.
Then The user can rely on the choosing of the account code, and this will be linked to the correct categories of various income and expenses which could be created linked by categories from conception. This would work much better.
-
Suzanne Vermeulen commented
Yes, can hardly comprehend that this isn't a standard feature, that creates a sub-total for all chicken accounts (and all hen accounts cannot be posted to).
-
David Engel commented
100% absolutely. This is essential. I can't believe Xero doesn't support this.
-
Bruno Ferreira commented
Agreed. For lab fees account, we could assign which dentists they belong to.
-
Vikas Deshwal commented
This will help in generating good reports and classifying the revenue and cost further. For example expences could be divided into Material, labour and overheads.
-
Trevor Courtney commented
It's really important to us.
-
Corrine Coombe commented
Sub codes would be great
-
Vikas Deshwal commented
Agree, We should have another sub account heads or classification. Also the names of account heads should be editable. For example expences could be devided in Material, labour and overheads.
-
Trevor Courtney commented
Agree with all of these comments. Tracking is a poor substitute for subaccounts.
-
Diana Worthen commented
Yes, this is so important! I need to be able to see, for example, the total spent on conferences, but then also be able to input conference registration fees and conference travel costs. Tagging ability would additionally be so helpful!! But the subaccounts is critical. And limiting the tracking to 2 is weird and very limiting.
-
Anne Norman commented
Coming from Reckon, I find this very annoying. Open source packages such as GnuCash have this basic functionality, why cant an expensive paid for package? Yes, you can add in things like 433 / 433.1 / 433.2 etc etc, but they are separate accounts, not a parent / child relationship.
-
Sunshine Craig commented
We run several events that we need to be able to track the costs specifically for each event. We need the functionality of sub accounts. I have attached a document showing what we need to be able to budget.
-
Thayamie Navaratne commented
At present there is no functionality in Xero to add sub accounts in the Chart of Account (like in QB where you can assign the main account to the sub account within chart of accounts)
-
Caren Reid commented
Sub Accounts in the Chart of Accounts - When entering sub accounts one needs to be able to add a sub account as 200.001
-
TRACEY ARNERICH commented
The chart of accounts - the base chart is too sparse. Having worked with MYOB and we all know that this is too much information but the one thing I would have to say is that there has never really been a time that I have had to create an account really - they are all available and have been thought of. Whats more in Xero after creation you have to manipulate the advisor reports to fit it in. Simple things like an asset sale - no default accounts? Silly. Why not make this global. It leads to consistency in approach throughout practices but also throughout the wider community as jobs pass on