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
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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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.