Professional Services QBO Setup Kit
A chart of accounts built for how service businesses actually earn and spend money.
$47 $23.50 50% Off
A chart of accounts built for how service businesses actually earn and spend money.
$47 $23.50 50% Off
When your revenue comes from your time and expertise, not from products on a shelf, the default QuickBooks chart of accounts does not fit. You end up with a bunch of categories designed for retail or manufacturing and no clean way to track the things that actually matter for your business: different revenue streams, project expenses, subcontractor costs, professional development, and the home office or co-working space you run it all from.
This kit gives you a chart of accounts designed specifically for service-based businesses. Whether you are a management consultant billing by the project, a coach selling packages, or a freelancer juggling multiple clients, the account structure is built to track how your money actually flows. Your revenue categories separate the types of work you do. Your expense categories capture the costs that are deductible and distinct to professional services. And your P&L report gives you a clear picture of profitability, not just a list of transactions.
The goal is not just clean books. It is a set of numbers that helps you decide whether to raise your rates, hire a subcontractor, invest in a certification, or cut an expense that is not pulling its weight.
One for each entity type: Sole Proprietor, S-Corp, and Partnership. Import directly into QuickBooks Online with 85-88 industry-specific accounts. The Setup Guide walks you through the process step by step.
Every account listed with its account type, detail type, and a plain-language description of what it is for. Use this as your ongoing reference when coding transactions. Especially helpful if someone else handles your bookkeeping and needs to understand your account structure.
Step-by-step instructions for importing the CSV, customizing accounts for your specific practice, handling the transition if you already have QBO data, and key bookkeeping concepts for service businesses. Includes guidance on tracking multiple revenue streams, recording retainer income, handling subcontractor payments, and capturing home office and travel expenses under current tax rules.
A printable reference listing the most common transactions for service businesses (client payments, software subscriptions, conference fees, subcontractor invoices, mileage, meals with clients) and which account to code each one to.
This kit is built for service-based professionals who use or are setting up QuickBooks Online.
Whether you are a solo practitioner or running a small firm with a few team members, the kit includes a CSV for your entity structure.
Free chart of accounts downloads lump everything into broad buckets. This kit separates your revenue by type of service, breaks out your operating expenses from your professional development and marketing costs, and gives you a clear cost structure for subcontractors vs. employees. Your P&L will show you which service lines are most profitable, not just your total revenue minus total expenses.
The One Big Beautiful Bill Act (signed July 4, 2025) made the 20% QBI deduction permanent for pass-through entities. If you are operating as a sole proprietor, S-Corp, or partnership, that deduction is no longer expiring after 2025. This kit is structured to help you and your tax preparer identify qualified business income clearly. The updated meals deductibility rules are reflected in how meal and entertainment expenses are categorized, keeping business meals (still 50% deductible) separate from other costs that are now handled differently.
A good Profit & Loss report for a service business should answer a few basic questions: What am I earning? What does it cost me to deliver that work? What am I spending on overhead? And what is left? This chart of accounts is structured to give you those answers without a finance degree.
$47 $23.50