Creating an Asset Account

An asset is something that you own that has a dollar value. Asset accounts include cash, accounts receivable, and inventory accounts.

To create an asset account

1. On the General Ledger menu, select Chart of Accounts. The Chart of Account screen appears.

2. Click Add. The GL Account Edit screen appears.

3. Type the major account number and primary description for the new account.

4. Type the minor account number and secondary description for the new account.

Note: If the minor account number is 0, leave the description blank.

5. In the Type area, select Asset.

6. If the new account is for inventoriable items, select the Inventory Items check box. Otherwise, leave it blank. For more information, see Adding Items to the Inventory.

7. Make sure the Active check box is selected.

8. Click OK.