Account Types can be used to create categories for Expenses and Income statements.
Account Types are similar to basic bookkeeping general ledger classifications. Use them to help categorize your transactions. Here are examples of CB types.
- Assets (Cash, Accounts Receivable, Land, Equipment)
- Liabilities (Loans Payable, Accounts Payable, Bonds Payable)
- Operating revenues (Sales, Service Fees)
- Operating expenses (Salaries Expense, Rent Expense, Depreciation Expense)
Create Account Type
- From Settings --> Account Types
Click on +New
Enter the name of the Account Type