Mandatory system accounts
Mandatory system accounts are accounts that QuickStart generates for built-in accounting purposes such as retained earnings and net income. They appear in Menu > Accounting > Chart of accounts but cannot be created, deleted, or deactivated by users.
You can edit only Number, Name, Description, and Parent account on mandatory system accounts.
The following mandatory system accounts appear on your Chart of accounts page:
| Mandatory System Account | Description |
|---|---|
| Purchase orders | This is a non-posting account used for purchase orders. |
| Retained earnings | This is a posting account used to track the cumulative net income or loss over time when the income statement is generated. |
| Return authorizations | This is a non-posting account used for return authorizations. |
| Sales orders | This is a non-posting account used for sales orders. |
| Transfer orders | This is a non-posting account used for transfer orders. |
| Unapproved customer payments | This is a non-posting account used when payments are in a pending state. |
| Vendor return authorizations | This is a non-posting account used for vendor return authorizations. |