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What Account Types Are Available in the Chart of Accounts

Accounts fall under five top-level categories - Assets, Equity, Expenses, Income, and Liabilities - and within "Add account" the Account Type dropdown breaks…

Steps

  1. The five category tabs on the Chart of Accounts page are: Assets, Equity, Expenses, Income, and Liabilities.
  2. Opening "Add account" shows a more detailed Account Type list, including sub-groups such as Cash and Bank, Depreciation and Amortization, Expected Payments from Customers, Inventory, Money in Transit, and Other Long-Term Asset.
  3. Choosing a specific sub-group (rather than just the top-level category) determines which group an account appears under when "Groups" view is turned on.

Related Articles

  • How Do I Add a New Account?
  • How Do I See Asset Sub-Categories Like Cash and Bank?
  • Why Are Accounts Divided Into Categories?

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