About parent and subaccounts
WorkingPoint comes with a predefined set of accounts, including a few parent accounts with subaccounts. Parent and subaccounts can be used to group related accounts. The parent account represents a broad account category; subaccounts break down the broad category into smaller accounts. By using subaccounts, you can track, for example, related income or expenses in separate accounts, but still group them under one larger account. This lets you see your financial activity in greater detail.
For example, we have set up "Revenue" as a parent account, with "Discounts", "Sales", and "Shipping" as subaccounts (like the example below when viewing the list in Name sort order):
When you sort the Accounts List by Balance Sheet Order, the parent accounts are listed in alphabetical order and indented below the parent account are the subaccounts (like the example below:
With a parent and subaccount relationship, you can see subtotals for each type of revenue source (such as Sales and Shipping) and the total of all revenue sources. When you open the parent account, you will see the activity for the parent account and all the entries in the subaccounts.