Is it possible to create a sub-account such as this-- I’m a musician. So I hire musicians. Can I have one account that says Musicians and then put individual names of musicians under this so that they all show in a report summary together, under Musicians?
Are you talking about the P&L Statement, if yes, then you would create a Group called Musicians and then create individual accounts under that heading. This is done under Settings - Chart of Accounts
To get the groups to list in the right order then give them a code: Income would be code 1 then its your choice.
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Have you looked into treating the musicians you hire as employees? I assume they are not actual company employees, but rather subcontractors. Depending on tax reporting requirements, etc., you should be able to get the information you need.
Also, coming soon is custom control accounts, a feature that will allow you to create subaccounts exactly as you asked.
I think you will find that the proposed custom control accounts only relates to modifying the behaviour of existing control account subsidiary ledgers, not non-control accounts: e.g. Credit cards to BS Liabilities, Sub-grouping of Fixed Assets, Sub-grouping of Inventory Sales etc
Or to quote the road map - Custom control accounts will allow (the user) to specify how subsidiary ledgers should be presented in general ledger
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There has been discussion of being able to create new control accounts with their own subsidiary ledgers. I do not know whether this will actually be the case, though. The description in the roadmap is obviously not extensive. I guess we will see when this feature rolls out.
To imply that there could be “user” created control accounts with subsidiary ledgers sounds incredulous.
What possible control account could be added to the already extensive customise section. Just imagine the creativity that could be springing forth from budding bookkeepers as they attempt to re-shape their financials in to pieces of artistry. That could be a whole forum in itself.