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Quickbooks to the Rescue: Turning Your Chart of Accounts into a Sales Tool by Terrell A Turner, CPA

Updated: Feb 21

Let’s imagine that you just landed an amazing new client, and they are willing to pay a really good price for your services. This is exciting because your firm is on its way to being even more profitable. But there are a couple of hurdles that you first must get over.


Your first hurdle is that you need to make a really good impression on the new client, and the faster you do it, the better. 


In my experience, one of the fastest ways for an accounting firm to make a good impression is found in the “Chart of Accounts''. This may seem like a stretch, but I will explain why the “Chart of Accounts” is a phenomenal opportunity, and QuickBooks new “Chart of Accounts Template’ Process” just made it even easier.


To understand why QuickBooks’ new feature is such a big positive, we should first explore why the chart of accounts matters to your client. 


When it comes to your clients, they don’t really care about the words “chart of accounts”, but they do care about understanding “what is happening to their money.” As accountants and bookkeepers, we know that a well-organized “chart of accounts” is the key to making sure that the financials can clearly answer your clients’ most important questions about “what is happening to their money.”


With that being said, we can see that a well-organized chart of accounts is the key to addressing one of your clients’ most pressing concerns. But when are you going to find the time to actually get this done? 


The second hurdle that you must get over is finding the time to reorganize the chart of accounts so it will answer the clients' most pressing questions. Traditionally, if you wanted to make a change to the chart of accounts, you would have to follow a process like this:

  1. Navigate to the Chart of Accounts screen.

  2. Search for the account that you want to change.

  3. Make the necessary changes and then save them.

  4.  Repeat this process about 30 times and hope you don’t make a mistake, or else you are going to be re-working the whole process.


Historically, reorganizing the chart of accounts required dedicating several hours of additional work or spending extra money to hire someone to fix it for you. 


Now, here is the exciting news: the new QuickBooks Chart of Accounts Template process allows you to reorganize the chart of accounts and deliver great value to your clients in a matter of moments. This new process allows you to transform the entire chart of accounts all at once with these easy-to-follow steps:

  1. Download the Excel template file.

  2. Make all of your account changes at once.

  3. Upload your edited file into QuickBooks.

  4. Enjoy seeing the smile on your new client’s face when the financial statements are structured to answer their most important question(s).


So, let’s reimage your situation one more time. You just sign up a new client, and you have access to the new QuickBooks Chart of Account Template process. In a matter of moments, you can quickly make a really good first impression by turning the financial statements into a useful tool that answers your clients' most important question. Now that you have figured this out for one client you can save the template and use it for other existing clients and new clients in the future.


Also, don’t forget about the “referral effect”. When you make a really good first impression with a client, they are more likely to tell others, which could mean more profitable clients are headed your way, and the QuickBooks Chart of Accounts Template just makes that a lot easier.


If you are interested in finding out more about how the QuickBooks Chart of Accounts Template process works, click on this link to get started today.


This is a paid partnership with Intuit.

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