About system accounts

When you create a new company, Microsoft Office Accounting creates certain basic accounts, assigns them names, and designates them as system accounts.

Office Accounting creates the following system accounts:

Opening balances
Accounts receivable
Accounts payable
Sales tax payable
Cash discount given
Cash discount taken
Payroll liability
Undeposited funds
Bank charge
Retained earnings
Pending item receipts
Job resell account
Write off account
Employee expense
Default cash

You can do one of the following:

  • Edit these accounts.

  • Select other accounts to act as system accounts.

    1. To select another account to act as a system account, on the Company menu, click Preferences.

    2. In the Preferences dialog box, on the System Accounts tab, click the arrow next to the account that you want to change, and then select another account.

      If you want to create a new financial account, see Add an account.

Related topics

Add an account

Change preferences

Share Facebook Facebook Twitter Twitter Email Email

Was this information helpful?

Great! Any other feedback?

How can we improve it?

Thank you for your feedback!