Account types

Accounts Overview > Account types

Every account in the MYOB Accounting Plus system must be assigned a type before it can be used to track your company's financial activity. You can choose from eight different account types: Asset, Liability, Income, Expense, Capital, Cost of Sales, Other Income and Other Expense. Each type serves a specific purpose.

If you're unsure about which type you should assign to a new account, you probably should consult your accountant, or an MYOB Certified Consultant. For more information about the Accounting Plus Certified Consultant program see http://www.myob.co.uk/service/consultants/index.htm.

Click below for the step-by-step procedure:

Creating accounts