> ## Documentation Index
> Fetch the complete documentation index at: https://docs.teal.dev/llms.txt
> Use this file to discover all available pages before exploring further.

# Financial Account Types

> Default parameters for different financial account types

# Creating Financial Account Ledgers

Several parameters are optional when [creating a financial account ledger](/api-reference/ledgers/create-a-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              |