Boy are you correct. You just need a simple chart of accounts. I hate the new long chart of accounts intuit is rolling out for new users. I'm the one has to fix the extra 100 accounts because no one wants all those accounts and making them inactive only leaves them for clients to mess up down the road.
7 utility accounts. Really? Are you kidding me? Could you possibly be more more out of touch with your customer base? Forget your customer base, what about big corporations? Does anyone at Intuit read the INTUIT financial reports? Whoever did this knows nothing about the world of business & finance.
Small businesses may need 1 utility account named, "utility". They may need zero utility accounts. Does any business want both a water and a sewer account under Utility? Does anyone want gas & electric too under Utility (or is that new 2 new accounts?).
I'm an expert. I've setup and fixed chart of accounts thousands of times (yes, thousands). I've written a book on this subject titled, "radically simple accounting". I've been using QB Online since day one and am as fast as anyone can be. It takes me 3 (THREE) hours to clean up this mess. And I have to do it for every new user. Nightmare.
One can't just delete an account, it just makes it inactive, and there is a chance it will be posted to again. So I rename every single one of the now 100 EXTRA accounts. My naming system is "AAA Inactive 1" ---> "AAA Inactive 100". So for 100 accounts I have to keep my #'s straight. Otherwise it merges them and leaves that old account there and inactive. This system of renaming accounts signals that those accounts are available to reuse in the future for any Intuit doesn't include that are needed. This is different from when one has to delete an account with transactions inside of it (like a closed loan). I rename that account to include the word "closed" before making it inactive. Those account names cannot be reused in the future.
I hope Intuit fixes this mess. Only give new users the accounts that QB Online requires and no more. Let us add in the few accounts we need beyond that. NOW. PLEASE.
