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Want an expert to help you set up your QuickBooks Online? Find out how: Click here

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SophiaAnnL
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The terms in QBO may vary depending on your country, mhp.

 

For US QuickBooks Online accounts, the term Bank is used in the Chart of Accounts. On the other hand, Cash and Cash equivalents is the Account Type for non-US accounts.

 

You can choose Cash and Cash equivalents under the Detail Type when setting up a new account. This type represents your checking account.

 

Here's how:

  1. Click Accounting in the left panel.
  2. Select Chart of Accounts.
  3. Click the New button in the upper right-hand corner.
  4. Under Account Type select Cash and Cash Equivalents.
  5. Under Detail Type, select Cash and Cash equivalents.
  6. Enter the Name, Description, and Balance.
  7. Click Save and Close.

I'll be around if you have any further questions. Thanks.