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GL Account Classes
GL Account Classes
Define the top-level account classifications. These determine how accounts appear on the Balance Sheet and Income Statement.
Default Classes
- Assets - Resources owned (Balance Sheet)
- Liabilities - Amounts owed (Balance Sheet)
- Equity - Owner equity (Balance Sheet)
- Income - Revenue (Income Statement)
- Cost of Goods Sold - Direct costs (Income Statement)
- Expenses - Operating expenses (Income Statement)
Fields
- Class ID - Numeric identifier
- Class Name - Display name
- Class Type - Balance Sheet or Income Statement