Account
Types (Maintain Chart of Accounts)
Account types define how the account will be grouped in reports and financial statements. They also control what happens during fiscal year-end.
General Ledger accounts are assigned types on the General tab of the Maintain Chart of Accounts window. Choose one of the following account types from the drop-down list:
Warning! Although Sage 50 will allow you to change the Account Type of an existing account with balances and transactions on which it is applied, we HIGHLY recommend that you do not change it. This WILL change your financial statements!
What do you want to do next?
- Set up a chart of accounts for the first time
- Add an account to an established chart of accounts
- Enter G/L beginning balances
- Perform other Sage 50 General Ledger procedures
- Change your company's basic information
- Perform other company tasks
- Design financial statements
- Read the chart of accounts overview
- Read the getting started overview
- Read an overview of Retainage