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You are here: Home / KnowledgeBase / GL & Journal Entries / What General Ledger Account Types Does QuickBooks Support?

What General Ledger Account Types Does QuickBooks Support?

Chief Mechanic · September 7, 2010 ·

QuickBooks supports 16 total general ledger account types in its Chart of Accounts.  Each account is assigned a single account type, which can be changed, subject to certain restrictions.

5 Income/Expense Account Types for the Profit & Loss (P & L) Statement

  • Income
  • Expense
  • Cost of Goods Sold
  • Other Income
  • Other Expense

11 Asset/Liability/Equity Account Types for the Balance Sheet

  • Fixed Asset
  • Bank
  • Loan
  • Credit Card
  • Equity
  • Accounts Receivable
  • Other Current Asset
  • Other Asset
  • Accounts Payable
  • Other Current Liability
  • Long Term Liability
QuickBooks Premier 2009 GL Account Types

The Chart of Accounts can be accessed by one of several menu selections, Company->Chart of Accounts and Lists->Chart of Accounts, or by clicking Ctrl + A.

If account numbers are used, the numbers should follow certain broad account types.  See our article on assigning general ledger account numbers based on the account type.

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GL & Journal Entries, KnowledgeBase A/P, A/R, bank account, COGS, credit card account, equity account, expense account, fixed asset account, income account, loan account, long-term liability account, other asset account, other current asset account, other current liability account, other expense account, other income account

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Comments

  1. wayne Lambert says

    November 5, 2015 at 2:18 pm

    How can I limit access within the chart of account to certain account types. I have certain users that I only want to see Cost of Goods Sold accounts when setting up items.

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