Account Type Maintenance

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Account Type Maintenance

Account type is the basic structure for Chart of Accounts. Account types defaulted by the system are not allowed to delete. However, you may add new Account Types or rename the default description of a default Account Type.


Go to General Maintenance > Account Type Maintenance

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Adding New A/C Type


Add New A/C Type

Go to General Maintenance > Account Type Maintenance

Click on New,

Key in the Code and Description, select either Balance Sheet type or Profit and Loss type, then OK.


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Add New Accounts

Go to G/L > Account Maintenance, add new accounts under new A/C Types.


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Setting at Profit & Loss Account

Go to G/L > Profit & Loss Statement,


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Setting At Balance Sheet

Go to G/L > Balance Sheet Statement,


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Display As Positive: means the nature of the account type, you choose 'Debit' if the account type carries debit balance, and vice versa. If you are still not sure, follow the following rule:


Account Type Display As Positive
Fixed Assets, Current Assets, Intangible Assets, all types of Assets Debit
Long Term Liability, Current Liability, all types of Liabilities Credit
Income, Sales, Purchase Return, Gains .... Credit
Expenses, Purchases, Sales Return, Losses... Debit
Capital, Retained Earning, Reserves, Share Capitals, Loans Credit


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