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:
Sales tax payable
Cash discount given
Cash discount taken
Pending item receipts
Job resell account
Write off account
You can do one of the following:
Select other accounts to act as system accounts.
To select another account to act as a system account, on the Company menu, click Preferences.
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.