Account Types |
Previous Top Next |
Menu Navigation
Lists ... General Ledger ... Account Types
About Account Types
Account Types are used to define the classification and behavior of general ledger accounts. You may define your own account types which serve as a high level grouping on financial statements. General ledger accounts are assigned an account type upon creation. This account type can only be changed to another account type of the same kind once the account is in use.
In this Topic
Field by Field Help - Account Type screen
Related Topics
2.7 How to Use Lists
14.1 Chart of Accounts
Field by Field Help - Account Type screen
Account Type
Enter a name for the new account type here. This value will appear on financial statements.
Account Kind
Select a valid account kind from the list. This value establishes the behavior and financial statement location for each account.
| Cash | Balance Sheet account; current asset section. Operating Cash Flow account. |
| Receivables | Balance Sheet account; current asset section. Operating Cash Flow account. |
| Inventory | Balance Sheet account; current asset section. Operating Cash Flow account. |
| Other Current Assets | Balance Sheet account; current asset section. Operating Cash Flow account. |
| Fixed Assets | Balance Sheet account; long term asset section. Investing Cash Flow account. |
| Other Assets | Balance Sheet account; long term asset section. Operating Cash Flow account. |
| Accounts Payable | Balance Sheet account; current liability section. Operating Cash Flow account. |
| Credit Card | Balance Sheet account; current liability section. Operating Cash Flow account. |
| Other Current Liability | Balance Sheet account; current liability section. Operating Cash Flow account. |
| Long Term Liability | Balance Sheet account; long term liability section. Financing Cash Flow account. |
| Equity | Balance Sheet account; equity section. Financing Cash Flow account. |
| Income | Income Statement account; gross profit section. |
| Cost of Goods Sold | Income Statement account; gross profit section. |
| Expenses | Income Statement account; operating income section. |
| Other Income | Income Statement account; net income section. |
| Other Expenses | Income Statement account; net income section. |
Typical Balance
Displays whether the selected account kind carries a typical balance of a debit or credit. If the account has a balance which is not the typical value, it may appear as a negative value.
Posting Type
Displays the posting type for the selected account kind.
Cash Flow Type
Displays the posting type for the selected account kind.
| Q01. | I don't see my question here. Where else can I get information? |
| A01. | Visit our website's Technical Support section. |
|
|
|
| © 2015 - Intellisoft Solutions, Inc. All rights reserved. | |
| Other Related Links | |
| Business Software | Cellular Software | Pager Software | Business Management Software |