Account types
Every account has a type that determines where it appears in financial reports. Asset, liability, and equity categories appear on the balance sheet. Income and expense categories appear on the income statement. Account types themselves cannot be created or changed.
| Account type | Account subtype | Category |
|---|---|---|
| Cash and cash equivalents | Bank accounts | Asset |
| Cash and cash equivalents | Undeposited funds | Asset |
| Accounts receivable | Asset | |
| Fixed assets | Asset | |
| Non-current assets | Asset | |
| Other current assets | Deferred expense | Asset |
| Other current assets | Inventory | Asset |
| Accounts payable | Liability | |
| Other current liabilities | Credit cards | Liability |
| Other current liabilities | Deferred revenue | Liability |
| Non-current liabilities | Liability | |
| Equity | Equity | |
| Revenue | Income | |
| Non-operating income | Income | |
| Cost of goods sold | Expense | |
| Expense | Expense | |
| Non-operating expense | Expense |
Select a non-posting account type when the account must not post to the general ledger.