Assets Account Classes

Related topics

Change an account class

The assets account group (numbered 1000 to 1099) refers to any item of value owned by the company. This can also include money that others owe you. Each account group in Sage 50 Accounting can be further divided into account classes. Unless your accountant specifies otherwise, use the default account group Asset.

The table below shows the account classes in the asset account group.

 

Account Class

Description
Asset Any item of value owned by a company. This can include money that others owe you. This class encompasses all asset classes and can represent any type of asset.
Cash Amount of cash on hand. You may add several cash accounts, one for petty cash and another for cash draws.
Bank Any bank with which you hold an account.
Credit Card Receivable Amount owed to you based on credit-card purchases from customers. You should set up a separate account for each type of credit card that you accept.