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 Type | Type | Sub Type | Debit/Credit | Report Cash Flow |
|---|---|---|---|---|
| Bank Account | Asset | Current Asset | Debit | Yes |
| Prepaid Card | Asset | Current Asset | Debit | Yes |
| Payments | Asset | Current Asset | Debit | Yes |
| Payroll | Asset | Current Asset | Debit | Yes |
| Accounts Receivable | Asset | Current Asset | Debit | No |
| Accounts Payable | Liability | Current Liabilities | Credit | No |
| Loan | Liability | Current Liabilities | Credit | No |
| Credit Card | Liability | Current Liabilities | Credit | Yes |