Does Zola Suite Have Sub Accounts?

Does Zola Suite Have Sub Accounts?

Zola Suite allows you to relate accounts within your Chart of Accounts to "parent" accounts. These accounts will fall under the parent account, allowing you to view a total under that parent account, in addition to a breakdown of the individual account balances. These totals can the viewed on your Profit and Loss Report.

To begin using Sub Accounts, first got to the Main Accounting Section --> Reports --> Chart of Accounts.

If you are adding a new account that does not already exist, Click on the + on the green toolbar and select "New Account."

This will open a new account module and will ask for the following information:
  1. Account Type:
    1. Asset
    2. Liability
    3. Owner's Equity
    4. Revenue
    5. Expense
    6. Owner's Draw
    7. *Credit Card Account
    8. Fixed Assets
    9. Short Term Liability
    10. Retained Earnings
    11. Long Term Liability
    12. Capital
  2. Account Name
  3. Account Number
  4. Department (if applicable)
Check off "is sub account" and select the parent account this should fall under.


To turn an existing account into a sub account follow these steps:
1) Click on the edit icon to the right of the account you wish to assign to a parent account.



2) Click on the check box labeled "is sub account."



3) Then choose the "parent" account this should fall under.



4) Click "Save"

The account will now display on the chart of accounts as a sub account under the parent.



Note: You can create sub accounts for sub accounts!

Credit Card accounts added directly to the Chart of Accounts will only be able to be reviewed on the General Ledger. If you want it displayed with it's own register, it should be added from Banks and Registers.

Once your sub accounts are assigned to the correct parent accounts, you can view the totals from the Profit and Loss Report.

Parent accounts will have an arrow next to them allowing you to expand or collapse them.

When collapsed, the P&L will display the total of the parent account plus the sub accounts:


When expanded, the parent account will display the total specifically for that individual account, with the sub account totals displayed next to their accounts.



Since transactions can be assigned to the parent account, that account will maintain its own balance, in addition to including the sub accounts under it.

    • Related Articles

    • What is a "journal entry"?

      Journal entries can be used to reconcile your accounts or add manual entries. For instance, an expense like a checking account monthly fee could be added as a journal entry to ensure that your Zola Suite checking account balance matches the balance ...
    • How Do I Make a Time Entry for My Task?

      In Zola Suite you have the ability to easily create a Time Entry for any completed Task. Follow the below directions to learn how to create a time entry for a task: First navigate to the task section of Zola Suite. This can be done through your ...
    • How Do You Close/Zero Out Accounts at Year End?

      In this article, you will learn what journal entries are needed to close your books at year-end.   Please note that once you close your books for that fiscal year, no other entries are to be made for that period. Thus, before closing your books we ...
    • How Do You Make Journal Entries in Zola Suite?

      Journal entries are an essential part of accounting and bookkeeping. Follow the instructions below to manually add journal entries into the General Ledger Hover over the Accounting menu icon and select Banks and Registers Click the + on the top right ...
    • What Reports Does Zola Suite Offer?

      Are you looking to run reports based on the information you have entered into Zola Suite? If you go to the Accounting section you will notice that Zola Suite offers 4 different sections of reporting: Client Reports AR Aging Summary - The total amount ...

    Status

    Experiencing degraded performance in Zola Suite?