Account Types

Each account in NetSuite must have a Type assigned. Each of these account types belongs to a broader category in the general accounting equation: Assets + Expenses = Equity + Liabilities + Income.

Each account type has a normal balance type of debit or credit. NetSuite uses positive notation for debit accounts and negative notation for credit accounts. For information about creating accounts, see Creating Accounts.

The relationship between type, category, balance type, and notation in NetSuite is shown in the following table:

Account Type	Category	Balance Type	Notation
Accounts Receivable	Asset	Debit	+
Bank	Asset	Debit	+
Deferred Expense	Asset	Debit	+
Fixed Asset	Asset	Debit	+
Other Asset	Asset	Debit	+
Other Current Asset	Asset	Debit	+
Unbilled Receivable	Asset	Debit	+
Equity	Equity	Credit	-
Cost of Goods Sold	Expense	Debit	+
Expense	Expense	Debit	+
Other Expense	Expense	Debit	+
Income	Income	Credit	-
Other Income	Income	Credit	-
Accounts Payable	Liability	Credit	-
Credit Card	Liability	Credit	-
Deferred Revenue	Liability	Credit	-
Long Term Liability	Liability	Credit	-
Other Current Liability	Liability	Credit	-

Note:

You cannot create new or modify existing account types.

NetSuite also includes a non-monetary account type called Statistical. For more information, see Using Statistical Accounts.

Accounts that belong to the asset, liability, and equity categories are included in the balance sheet. Income and expense accounts are in the income statement.

Related Topics:

• Feature-Specific, System-Generated Accounts
• Chart of Account Numbering
• Available Account Registers
• Entering Opening Balances
• Setting Up Historical Balances in OneWorld
• Viewing the Chart of Accounts
• Making Changes to Accounts
• Chart of Accounts Management

General Notices