Thanks for joining this thread, @Christopher Moreno. 

Yes, this process is also available in QBO. You'll first need to add a parent customer before adding sub-customers. This way, you can keep track of each income, expense and balance for your company and each department. 

Here's how: 

1. Go to Sales from the left menu.
2. Select the Customers tab. 
3. Choose New Customer.
4. Enter all the details in the Customer Information window.
5. Click Save.
    

Here's how to create a sub-customer: 

1. Go to Sales from the left menu.
2. Select the Customers tab. 
3. Select New Customer.
4. Enter all the details in the Customer Information window.
5. Check the Is sub customer box. 
6. Choose the Parent customer from the Parent drop-down menu.
7. Select whether you want to have it Bill with parent or Bill this customer.
8. Click Save.

For more information, you can check out this helpful article: Add A Customer and Sub-Customer. 

Once you create invoices, you can add billable time to the your sub-customers. For more details, here's a great article you can refer to: Track Income, Costs, and Profitability By Project 

If you haven't turned on the project feature in the program, you can perform the steps through this article: Set Up and Use the Projects Feature. After that, QuickBooks will automatically calculate your project income and costs.

The steps and resources will help achieve your goal, @Christopher Moreno. 

I'll be around to help if you need further assistance. Have a great day.