After I looked at the Chart of Account, the Multistep Income Statement, and the Classified balance sheet of a template I am creating for a friend to use to manage the accounts of a school, I realised the need for sub accounts. With sub accounts reports will show similar expenses, assets, liabilities, revenues consolidated into a primary account, you may drill down by clicking on the consolidated figure to see the component of that primary account on display in the report.
The Multistep Income statement and the Classified balance are good but sub accounts are still very necessary for every accounting software. I really hope it wouldnt be too hard to implement it. An account may be made to behave like a ‘Sub Account’, or ‘Primary’ which will enable it to consolidate linked sub accounts.
All the best Team