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Documentation Index

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Creating Financial Account Ledgers

Several parameters are optional when creating a financial account ledger. The following table outlines the default parameters for each account type based on standard accounting practices. Any of the parameters can be overridden when creating a financial account ledger.

Default Account Type Parameters

Financial Account TypeTypeSub TypeDebit/CreditReport Cash Flow
Bank AccountAssetCurrent AssetDebitYes
Prepaid CardAssetCurrent AssetDebitYes
PaymentsAssetCurrent AssetDebitYes
PayrollAssetCurrent AssetDebitYes
Accounts ReceivableAssetCurrent AssetDebitNo
Accounts PayableLiabilityCurrent LiabilitiesCreditNo
LoanLiabilityCurrent LiabilitiesCreditNo
Credit CardLiabilityCurrent LiabilitiesCreditYes